New Zealand Dollar in September

Here is a great graphic from the BNZ showing how the NZ dollar performed in September. You could say that it strengthened on the back of notably QE3 from the US Fed and the improving global growth sentiment. Furthermore the NZ economy has performed well under trying circumstances.

June quarter GDP accounts revealed the NZ economy finished Q2 1.6% bigger than where it began the year. That is solid economic growth under ordinary circumstances. But given the ongoing challenging and uncertain global economic environment we should not under sell this achievement. It is the strongest six month expansion we have seen in the past five years. Source: BNZ

1 thought on “New Zealand Dollar in September

  1. Simon

    You can find a suitable news bite for any given chart move. It all boils down to foreign currency owners wanting more NZ dollars than NZ dollar owners wanting foreign currencies. Why? The comment above the chart is sufficient in and of itself. To see how sustainable the currency strength is a carefully examination of New Zealand’s balance sheet is required. This would be a useful exercise.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *