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New Zealand

NZD 1.00 = USD Inter-Bank Mid-Market Rate    Invert Rate
Here at BER we are dedicated to helping you find the best possible currency exchange rates for New Zealand Dollar Wire Transfers and Travel Money plus market research and information on both banks and non-bank currency providers. Select
NZD Mid-Rates & Charts (30 days & 3 years) :

Wednesday, 30 July 2014 - Market Commentary
Daily currency news provided by OzForex

The Australian dollar moved back below 0.94 ahead of Key US data events this evening. Stronger US Consumer Confidence helped bolster recent Greenback strength and sent the Aussie lower as we again slip into a tight trading range bouncing between 0.9378 and 0.9410.  With little domestic data on the docket today direction will be driven by the Federal Reserve’s Open Market Committee Statement and crucial second quarter GDP numbers ahead of Friday’s Non-Farm Payroll data. The glut of key US risk events will govern market focus with strong readings likely to solidify recent US Dollar gains.  
We expect a range today between 0.9310 - 0.9470
Sterling remains below the critical 1.70 barrier despite an upswing in mortgage approvals yesterday. Stronger US consumer confidence and overall bullish sentiment toward the USD has solidified recent greenback gains amid uncertainty the pace of recovery in the UK can be maintained. The Bank of England and its Monetary Policy Committee seem to have dialled back the hawkish rhetoric reducing market expectations of an early hike in interest rates and subsequently triggering a Cable sell off. Strong US data will drive direction into the rest of the week with little headline news available domestically.
We expect a range today between 1.8000 – 1.8100 
The New Zealand Dollars decline continued yesterday dipping below 0.85 and touching intraday lows of 0.8493. Last week’s loses were compounded yesterday when the Fonterra Cooperative Group downgraded its forecast of Milk Prices from $7 - $6 per kilogram for the 2014-2015 season. With the economy so heavily reliant on dairy exports the dip in forecasts signals a possible reduction of 1.9% in overall Gross Domestic Product and a worsening Terms of Trade index. Focus now turns to Key US data events with GDP and the FOMC’s statement the primary drivers of direction through trading Wednesday.
We expect a range today between 0.8410 – 0.8610
Greenback strength continued yesterday as the world’s base currency touched eight month highs against its European counterpart while advancing for an eighth consecutive day against the Yen and Swiss Franc. Improvements in Consumer Confidence helped bolster expectations for positive growth and labour market data and paved the way for an upbeat and hawkish Federal reserve. Analysts expect the Fed to reduce is current bond buying program by a further $10billion when meetings conclude in the US today thus market focus will be keenly driven toward interest rate guidance while second quarter GDP numbers are key in determining the strength of the overall US recovery. Strong data readings and an upbeat Fed should reinforce recent gains ahead of non-farm payroll numbers Friday.
The Euro slid to a session and eight month low of 1.3402 yesterday as fresh US and EU sanctions were levelled against Russia. The EU is much reliant on Russian oil and trade ties sparking concerns the sanctions will lead to flatter Eurozone growth.
Data releases
No Data
NZD: Building Consents m/m
Prelim Industrial Production m/m

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