The NZD/USD is the quote for the New Zealand Dollar, the base currency, quoted against the US Dollar, the quote currency.
NZD is the national currency of New Zealand and the legal tender of the Cook Islands, Niue, the Ross Dependency, Tokelau, and the British territory of the Pitcairn Islands. The New Zealand Dollar became the national currency of New Zealand in 1967, when it replaced the New Zealand Pound and its complex pounds, shillings, and pence system, or £sd, stemming from the Latin librae, solidi, and denarii.
July 10th, 1967, is Decimal Currency Day in New Zealand, the day the NZD and its decimal system replaced the New Zealand Pound at a rate of 2:1. The Reserve Bank of New Zealand printed approximately 27 million new banknotes and 165 million new coins for the changeover.
The New Zealand Dollar belongs to commodity currencies, referring to national currencies that move with commodity prices. Soft commodity prices can impact the New Zealand Dollar due to its exports of meat, dairy, fisheries, and wine, the top four exports, followed by forestry. New Zealand ranks among the most globalized economies, dependent on trade with China, Australia, the EU, the US, and Japan.
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The New Zealand dollar continues to plummet against the US dollar as the bond market in America is essentially going straight up in the air as far as yields are concerned.
The NZD/USD fell to values not seen since the first week of August as financial institutions remain absolutely locked within cautious trading modes.
In my daily analysis of the NZD/USD pair, we have seen the New Zealand dollar drop below the crucial 0.60 level, only to turn around and show signs of life.
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In my daily analysis of the NZD/USD pair, the first thing I notice is the strong support near the crucial 0.60 level.
My daily analysis of the NZD/USD pair on Wednesday, the first thing I notice is that we are reaching the 0.60 level underneath, which is a large, round, psychologically significant figure.
Day traders continue to be offered an opportunity in the NZD/USD via technical perceptions, but cautious trading has kept the currency pair within lows and choppy trading is still ahead.
The NZD/USD attained new short and near-term lows early this morning, but technical traders who are wagering on downside should remain attentive to shifting sentiment.
In my daily analysis of the NZD/USD currency pair, the first thing I see is that we are going back and forth during the Monday session, as we are trying to figure out what we are going to do.
The New Zealand dollar has plunged during trading on Wednesday.
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I’ve noticed that the New Zealand dollar has fallen pretty significantly during the trading session on Friday.
The New Zealand dollar broke down a bit during the course of the trading session on Thursday, as it looks like we are going to reach towards the 0.62 level.
The New Zealand dollar initially did try to rally during the trading session on Wednesday but then turned around to show signs of exhaustion.
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The New Zealand dollar initially pulled back a bit during the Friday session, only to turn around and show signs of life again.
The NZD/USD exchange rate has seen another dose of strong buying and earlier this morning propelled to heights last seen in December 2023.