FX News

NZD/EUR Transfer:

The New Zealand Dollar (NZD) reached a new low Friday, touching 0.5705 (1.7530) a November 2020 against the Euro (EUR). Markets exciting the kiwi after Russia captured 4 Ukraine regions. Monday’s prices improved as risk conditions turned- equity markets all closing higher on the day with talk of Russia no longer having control of these captured provinces as Ukraine troops advanced. On the calendar this week we have the RBNZ rate announcement and policy statement. With the central bank predicted to raise a further 50 points to 3.5% the fifth straight 50-point hike. Analysts are predicting the bank may need to hike to 4.5% well into 2023 to combat rising inflation.

Current Level: 0.5816 (1.7193)
Resistance: 0.5935 (1.7530)
Support: 0.5705 (1.6850)
Last Weeks Range: 0.5706-0.5969 (1.6751-1.7525)

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