Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZ dollar edges up in quiet trading leading into Christmas

NZ dollar edges up in quiet trading leading into Christmas holiday season

By Tina Morrison

Dec. 24 (BusinessDesk) – The New Zealand dollar advanced in subdued trading heading into the quiet Christmas holiday period.

The kiwi edged up to 82.06 US cents at 8am in Wellington, from 81.93 cents at 5pm yesterday even after reports showing US consumer spending and consumer sentiment at five month highs. The trade-weighted index strengthened to 77.50 from 77.43 yesterday.

The New Zealand dollar was little changed against most of the major currencies overnight as traders vacate their desks for the Christmas holiday break. The kiwi traded in a narrow range of just 29 basis points against the greenback overnight and is unlikely to be any more active today with no major news or data scheduled.

”NZD was very quiet,” Mark Smith, senior economist at ANZ Bank New Zealand, said in a note. “We suspect markets will trade sideways today.

“Despite the Richmond Fed December survey, new home sales and durable goods orders (due in the US) tonight we do not expect much market reaction.”

ANZ’s Smith said the kiwi will probably trade between 81.80 US cents and 82.40 cents today.

The New Zealand dollar was little changed at 91.85 Australian cents from 91.81 yesterday after advancing 15 percent this year as a strengthening local economy contrasts with a slowdown in Australia, boosting the lure of local assets.

The kiwi was little changed at 59.92 euro cents from 59.90 cents yesterday and at 50.19 British pence from 50.13 pence. The local currency advanced to 85.37 yen from 85.25 yen yesterday ahead of the Bank of Japan’s monthly report tonight.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Dairy And Travel Still Our Largest Export Earners

New Zealand earned $2.3 billion more from exports than we spent on imports during the year ended June 2015... total exports of goods and services were $67.5 billion, while total imports were $65.1 billion. More>>

ALSO:

Approval: Air New Zealand And Air China Launch New Alliance Route

Air New Zealand and Air China have today launched joint sales for a new daily direct service between Auckland and Beijing after receiving approval from New Zealand Minister of Transport Hon Simon Bridges to form a strategic alliance. More>>

ALSO:

Money Trading: FX Trader Jin Yuan Finance Warned Over Lack Of Monitoring

Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. More>>

ALSO:

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news