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NZ dollar NZD forecasts for 2020

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Forecasts for the New Zealand dollar change all the time, affected by news events and relative sentiment towards the New Zealand economy. This continually updated article reviews the latest forecasts from banks and FX experts as well as news and recent movements of NZD in the currency markets.

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NZD in the markets

NZD/USD – 6 month chart
ALERT: 14-DAY LOWS 🔔 |
NZD/USD at 0.6594 is trading 1.5% above the 90-day average 0.6498 with a range 0.6291 to 0.6732. ALERT: NZD/USD has dropped to 14-DAY LOWS.
21-Jan-2020 16:NY 21:LON 08:SYD+1d

The threat of proxy war between the US and Iran in Iraq has pared back some of the gains the Kiwi had made coming into the New Year.

In December the New Zealand dollar has climbed back to US$0.66 it's highest value since July.

Against the Australian dollar, jumped to A$0.96 after being as low as A$0.92 in early November before starting a strong recovery upto current levels above A$0.95.

Robbing New Zealand's currency of better gains in 2019 have been reduced risk appetite spurred on by an escalation in the US-China trade standoff, and high correlations with other weak currencies, including the Australian dollar and yuan.

For more details read the full article NZ dollar news and forecasts.

NZD forecasts

Citigroup analysts said in June that the RBNZ will likely be a policy follower (if other central banks cut or threaten to cut rates, they will too) with the intent of keeping kiwi exchange rates at competitive levels for NZ businesses.

In 3 months’ time, Citi expects NZD/AUD, NZD/USD and NZD/EUR at A$0.955, $0.66 and €0.59 respectively.

Risks to the above forecasts come in the form of US-China trade tensions (New Zealand has very strong trade links with China) and any subsequent depreciation of the Chinese yuan because of NZD’s high correlations with Asian currencies.

You can also read our full Foreign Exchange Guide to New Zealand.

NZD/USD – Historical Rates

PeriodChange*NZD/USDDate
1 Day-0.2%0.660720 Jan 2020
7 Day-0.2%0.660714 Jan 2020
30 Day-0.2%0.660822 Dec 2019
3 Month+2.7%0.642123 Oct 2019
1 Year-2%0.672721 Jan 2019
5 Year-12%0.749822 Jan 2015
10 Year-7.2%0.710623 Jan 2010

*For period to 21-Jan 21UTC when NZD/USD was 0.6595

 

NZD/AUD – Historical Rates

PeriodChange*NZD/AUDDate
1 Day+0.3%0.961020 Jan 2020
7 Day+0.6%0.958214 Jan 2020
30 Day+0.7%0.956822 Dec 2019
3 Month+2.8%0.937323 Oct 2019
1 Year+2.5%0.939721 Jan 2019
5 Year+3%0.935322 Jan 2015
10 Year+22.4%0.787023 Jan 2010

*For period to 21-Jan 21UTC when NZD/AUD was 0.9636

 

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