NZD/USD, THE “KIWI”
The NZD/USD pair, also called the “Kiwi”, tells the trader how many US dollars (the quote currency) are needed to purchase one New Zealand dollar (the base currency). This currency pair is also known as the “Kiwi”. Together with the Australian Dollar and the Canadian Dollar, the NZD is a commodity currency, that is a currency whose country’s exports are largely comprised of raw materials (precious metals, oil, agriculture, etc.).
Along with the Australian Dollar, the NZD has been for many years a traditional vehicle for carry traders, which has made this currency also very sensitive to changes in interest rates.
FORECAST FOR 2017
FXStreet’s contributors, surveyed at the end of December 2016, expected the NZD/USD Forecast to accelerate down in the second semester and be at 0,6400 by the end of 2017. See full forecast
Also take into account that New Zealand general election is scheduled to be held on Saturday 23 September 2017.
HISTORIC HIGHS AND LOWS FOR NZD/USD
- All-time records: Max : 1.49 on 5/11/1973 – Min: 0.3962 on 16/10/2000
- Last 12 months (March 2016-March 2017): Max: 0.74854 on 07/09/2016 – Min: 0.63478 on 20/01/2016
- Last 5 years (March 2011-March 2016): Max: 0.88360 on 10/07/2014 – Min: 0.65794 on 20/08/2015
ORGANIZATIONS, PEOPLE AND ECONOMIC DATA THAT INFLUENCE NZD/USD
The organizations and people that affect the most the moves of the NZD/USD pair are:
- Reserve Bank of New Zealand (RBNZ) that issues statements and decides on the interest rates of the country. Its Governor is Graeme Wheeler.
- New Zealand Government (whose Prime Minister is Bill English) and its Ministry of Business, Innovation and Employment (MBIE) (led by Simon Bridges) that implement policies that affect the economy of the country.