The NZD/USD pair surged above 0.5650 after China announced measures to stimulate private consumption. Investors anticipate China's December PMI data for clues on economic activity. The RBNZ is projected to cut interest rates by 50 bps in February, while the US Dollar weakens ahead of New Year festivities.
NZD/USD jumps above 0.5650 after China vowed to boost private consumption. Investors await China ’s official business activity data for December. The RBNZ is expected to cut interest rates by 50 bps in February. The NZD/USD pair climbs to near 0.5660 in Monday’s European session. The Kiwi pair gains sharply after the Chinese government announced measures to boost private consumption.
Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency.
NZD/USD China Consumption RBNZ Interest Rates
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