THE Kiwi Dollar is still maintaining its current form on the markets gaining almost 7% on the Greenback since the end of August this year, still due to the US Federal Reserve’s pull back on its quantitative easing program.
The New Zealand Dollar opened this week slightly better from last week’s news with dairy Exporter, Fonterra’s reporting of weaker second half earnings, causing a bit of a headache for the export sector. The current form is being pushed along by accelerated economic growth, the prospect for higher interest rates and the current booming housing market. New Zealand’s budget deficit is also on track to return to a surplus nearing June 2015 ensuring that the Kiwi should remain strong for the foreseeable future. The issues still on the horizon are negotiations around the US debt ceiling and whether the 16.7 trillion borrowing limit will be raised as Washington goes into talks later this month.
AUD/NZD is currently trading at highs of 0.8775 and lows of 0.8822. The Kiwi seems to have lost a bit of ground on the Pound this week from the 0.5184 NZD/GBP on Friday, hovering around the 0.5165 mark this morning.
News releases that will look to direct the Kiwi’s price movements are namely, Australian Employment statistics, US Payroll data and USD Consumer Confidence.
Composed by Chris Davis
Exchange rates as of 10:55 (GMT), 08 October 2013
GBP / NZD: 1.934
EUR / NZD: 1.634
USD / NZD: 1.204
AUD / NZD: 1.137
Note: The above exchange rates are based on “interbank” rates. If you want to transfer money to New Zealand then please register/login or call us for a live dealing rate. Make use of a Rate Notifier to send you alerts when the New Zealand exchange rate reaches levels you are looking for.
