NZD/USD Exchange rate

Editors’ Picks

EUR/USD eases to near 1.1650, eyes US PCE for fresh impetus

EUR/USD turns south to test 1.1650 in European trading on Friday, facing rejection once again near seven-week highs. The pair, however, continues to draw support from persistent US Dollar selling bias, despite a cautious market mood. Traders now await the US September PCE inflation and UoM Consumer Sentiment data.

GBP/USD holds gains near 1.3350 ahead of US data

GBP/USD sticks to a positive bias near 1.3350 in the European session on Friday. Traders prefer to wait on the sidelines ahead of the key US inflation and sentiment data due later in the day. In the meantime, broad-based US Dollar weakness helps the pair stay afloat.

Gold remains below $4,250 barrier as traders await US PCE data for directional impetus

Gold gains some positive traction on Friday, though it remains confined in the weekly range. Dovish Fed expectations continue to undermine the USD and lend support to the commodity. Bulls, however, might opt to wait for the US PCE Price Index before placing aggressive bets.

Pi Network: Bearish streak nears critical support trendline

Pi Network edges lower on Friday for the third consecutive day, approaching a local support trendline. The on-chain data suggests an increase in supply pressure as Centralized Exchanges experience a surge in inflows. Technically, the pullback in PI risks further losses, as the Moving Average Convergence Divergence indicator is flashing a sell signal.

Canada Unemployment Rate expected to edge higher in November ahead of BoC rate decision

Statistics Canada will release its Labour Force Survey on Friday, and markets are bracing for a weak print. The Unemployment Rate is expected to tick higher to 7% in November, while the Employment Change is forecast to come in flat after a nice gain in October.

Majors

Cryptocurrencies

Signatures

ABOUT NZD/USD

The NZD/USD pair indicates how many US Dollars (USD) are required to purchase one New Zealand Dollar (NZD). Often seen as a minor currency, its relevance stems from New Zealand’s strong commercial ties with its neighbor, Australia, and China. The New Zealand Dollar is commonly referred to as the Kiwi, named after the bird that symbolizes New Zealand.

The New Zealand Dollar, along with the Australian Dollar (AUD) and the Canadian Dollar (CAD), is considered a commodity currency, meaning its value is closely tied to the export of raw materials such as precious metals, Oil, and agricultural products .

For many years, the NZD (like the Australian Dollar) has been one of the preferred choices for carry traders, making it very sensitive to changes in interest rates.

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 5 years: Max: 0.7465 on 19/02/2021 – Min: 0.5469 on 13/03/2020

* Data as of December 2024

ASSETS THAT INFLUENCE NZD/USD THE MOST

Currencies: The Australian Dollar (AUD), the Chinese Yuan (CNY), and the Japanese Yen (JPY), as Australia, China, and Japan are the main economic regional partners of New Zealand. This group also includes the following currency pairs: EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CHF, USD/CAD, GBP/JPY and EUR/JPY.
Commodities: First and foremost, coal. New Zealand has extensive coal resources, contributing approximately 10% to the country’s energy supply (excluding transport fuels). Other key commodities are Silver and Iron Ore.
Bonds: GNZGB10 (New Zealand 10-Year Government Bond Yield), AGB (debt securities issued by the Australian Government), and T-NOTE 10Y (10-year United States Treasury note).
Indices: NZX (New Zealand Exchange), ASX (Australian Securities Exchange), and Nikkei 225 (a stock market index for the Tokyo Stock Exchange).

INFLUENTIAL ORGANIZATIONS, PEOPLE AND ECONOMIC DATA FOR NZD/USD

The organizations and people that affect the most the moves of the NZD/USD pair are:

The Reserve Bank of New Zealand (RBNZ). It is New Zealand's central bank. Its primary role is to “give people, communities and businesses the confidence to spend, borrow and save money” by maintaining a sound and efficient monetary and financial system. The RBNZ achieves this by managing inflation to keep prices stable, regulating banks and finance companies, producing New Zealand’s banknotes and coins and operating effective wholesale payment and settlement systems. The current governor is Anna Breman.
The New Zealand Government – whose Prime Minister is Christopher Luxon – and its Ministry of Business, Innovation, and Employment (MBIE), which implements policies that affect the economy of the country.
Asia-Pacific Economic Cooperation (APEC), a forum for 21 Pacific Rim member economies that promotes free trade throughout the Asia-Pacific region.
The US Government and its President Donald Trump. Administration statements, new laws and regulations, or fiscal policy decisions can influence the value of the US Dollar and its trading pairs, including the New Zealand Dollar.
The Federal Reserve of the United States (Fed), whose chairman is Jerome Powell . It is the central bank of the US and it has two main targets: to maintain the unemployment rate at its lowest possible levels and to keep inflation around 2%. The Federal Reserve System's structure is composed of the presidentially appointed Board of Governors and the partially appointed Federal Open Market Committee (FOMC). The FOMC organizes eight scheduled meetings in a year to review economic and financial conditions. It also determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth.

Economic data to watch for NZD/USD traders:

GDP (Gross Domestic Product): The total market value of all final goods and services produced in a country. It serves as a gross measure of economic activity, indicating whether a country's economy is expanding or contracting. A high or a better - than-expected reading is generally positive for the NZD, while a low reading tends to be negative.
Inflation indicators: Key measures such as the Consumer Price Index (CPI) and the Producer Price Index (PPI) reflect changes in prices.