FX News

NZD/EUR Update 04/03

The New Zealand Dollar (NZD) continues to plough forth against a battle heavy Euro (EUR) over the week, the cross touching 0.6145 (1.6270) in early Friday trading, it’s quite staggering seeing the weakness in the Euro currency of late. The NZD climbing all over the Euro 11 from the last 12 days. The Euro suffering massive downside pressures in the Russian-Ukraine crisis. Growth prospects this week have been compromised as well with the ECB forced to hold off answering to inflation risks. The latest data shows more records falling with Euro inflation rising to 5.8% y/y from January’s 5.1% with the energy sector contributing the biggest chunk. Heavy resistance at 0.6210 (1.6100) should hold on the chart the August 2017 high. We await headline news as Russian and Ukraine negotiators meet again to hold their third round of talks.

Exchange Rates:
The current interbank midrate is: NZDEUR 0.6142 EURNZD 1.6281
The interbank range this week has been: NZDEUR 0.5980- 0.6146 EURNZD 1.6270- 1.6720

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