The New Zealand Dollar rose Tuesday after official data revealed a stronger than antipicated pickup in inflation during the recent quarter, which has left the consumer price index close to the midpoint of the Reserve Bank of New Zealand (RBNZ) target.
The New Zealand Dollar fell Wednesday due to a combination of adverse factors, taking its 2018 loss near to the double-digits in percentage terms, but the currency is still overvalued according to one analyst.
The New Zealand Dollar fell to new lows Tuesday despite official data casting the government's financial books in a more favourable light than previously thought, emphasising the extent to which the Kiwi is being driven by an unsupportive global environment.
New Zealand's Dollar continued its retreat from recent highs Tuesday after another survey showed business confidence collapsing to its lowest level since the financial crisis, prompting analysts to warn of ebbing momentum in the economy and a possible rate cut from the Reserve Bank of New Zealand (RBNZ).
The New Zealand Dollar shifted into reverse and slipped lower Thursday after the Reserve Bank of New Zealand (RBNZ) made clear it needs to see a pickup in economic growth over coming months if an interest rate cut is to be avoided.
The New Zealand Dollar advanced against rivals Wednesday after the latest Australia & New Zealand Banking Group (ANZ) survey showed business confidence snapping a six-month decline in September, ending a period of deterioration that had stoked concern for the Kiwi economic outlook.