New Zealand Dollar/NZD
Nickname : Kiwi
NZD= R10.85 to the south African Rand
New Zealand Dollar is a commodity currency.
NZD trades in high volumes during Asian session.
Central Bank Interest Rates: 2.50% (recently changed from 2.75%)
New Zealand (NZD) has the highest interest rates.
When you are holding a BUY position of NZD/JPY your account gets credited with a swap instead of being debited, because the interest rates in New Zealand (NZD) is higher than the interest rates in Japan (JPY), interest rate in Japan is <0.10%.
I have fallen in love with NZD, ok I am not a loyal “lover” when it comes to currencies I admit, so next time you might just hear me saying I am crazy in love with EUR, don’t be surprised, when currencies treat me well, I “fall in love” easily and when they misbehave, I move on just like that, at this time of writing this post, my “relationship” with Kiwi is very solid. If you are like me and you love trading NZD, you might as well get to know it better, this post is all about economic news affecting New Zealand Dollar.
Consumer Price Index (CPI)
This economic event is the change in price of goods and services purchased by consumers, consumer prices account for a majority of overall inflation and it is released quarterly.
Interest Rates/ Official Cash Rates
This economic event measures the interest rates at which banks lend balances held at the Reserve Bank Of New Zealand (RBNZ) to other banks overnight, we (traders) care because the short-term interest rates are the important factor of currency evaluation, this is released 8 times a year.
This economic event measures the total value of the inflation-adjusted sales at the retail level and it is a primary gauge of consumer spending which account for the majority of overall economic activity and it is also released quarterly.
Gross Domestic Products (GDP)
This economic event measures a country’s total activity, goods and services produced within a country. GDP is an economic indicator to gauge the health of the country’s economy.
The events listed above are not the only economic news you’d find on economic calendar, there are some that I did not mention here, but as they happen, I do trade them depending on many factors. That’s it for today, thank you for stopping by, kindly share this post and stay tuned for more. For private lessons email firstname.lastname@example.org.