The NZD/USD is the quote for the New Zealand Dollar, the base currency, quoted against the US Dollar, the quote currency.
NZD is the national currency of New Zealand and the legal tender of the Cook Islands, Niue, the Ross Dependency, Tokelau, and the British territory of the Pitcairn Islands. The New Zealand Dollar became the national currency of New Zealand in 1967, when it replaced the New Zealand Pound and its complex pounds, shillings, and pence system, or £sd, stemming from the Latin librae, solidi, and denarii.
July 10th, 1967, is Decimal Currency Day in New Zealand, the day the NZD and its decimal system replaced the New Zealand Pound at a rate of 2:1. The Reserve Bank of New Zealand printed approximately 27 million new banknotes and 165 million new coins for the changeover.
The New Zealand Dollar belongs to commodity currencies, referring to national currencies that move with commodity prices. Soft commodity prices can impact the New Zealand Dollar due to its exports of meat, dairy, fisheries, and wine, the top four exports, followed by forestry. New Zealand ranks among the most globalized economies, dependent on trade with China, Australia, the EU, the US, and Japan.
Most Recent
The NZD/USD pair has rallied quite significantly to reach towards the 0.63 level, an area that has been a major resistance barrier more than once.
The U.S Fed interest rate cut of 0.50% on Wednesday caused an immediate jump higher in the NZD/USD.
It’s obvious that we are struggling a bit to find some type of directionality
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The first thing I see is that this asset has rallied quite nicely, but it is still very much in a range that is somewhat well-defined.
The NZD/USD is around the 0.61435 price as of this writing with typical fast changes been seen.
The New Zealand dollar try to rally in the very early hours of Monday, but then fell apart, as we have seen risk appetite take a bit of a hit in multiple markets.
The bullish parade higher in the NZD/USD currency pair touched a price value of nearly 0.63030 on Thursday of last week.
The NZD/USD pair looks very week, as we had stretched far too high in the air, and now it looks like we are starting to drift a bit lower.
The first thing I see is that we see a little indecisive at the moment.
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After the overreaction and fall of the NZD/USD in the immediate wake caused by the interest rate cut in New Zealand, financial institutions began to show a bullish outlook.
The New Zealand dollar is very positive at the moment.
The New Zealand dollar has shot straight up in the air during the course of the Friday session breaking above the 0.62 level by doing so.
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Sign up to get the latest market updates and free signals directly to your inbox.The New Zealand dollar has gone back and forth during the course of the trading session here on Wednesday as we wait for the FOMC meeting minutes.
It’s easy to see that the US dollar continues to struggle overall.
The Kiwi dollar in the early hours on Thursday has fallen a bit, but it looks like we're hanging on to this 0.60 level for some type of bounce.