The NZD continues to recover, from lows, post-RBNZ rate cut decision. The lows of 0.5880 at the end of July was triggered by the RBNZ dovish commentary and then the rate cut. Since then, the KIWI has had a steady recovery, supported by a surge in global economic confidence and Global Central Bank rate cuts. The interest rate differential remains the same, while positive economic data is increasing risk sentiment. This week has seen a surge in NZ Business Confidence, while next week, markets will focus on NZ Trade and the US labour markets. The NZD has regained ground, to trade 0.6250, with some limited upside, if the global economic scene continues to improve.
The current interbank midrate is: NZDUSD .6270
The interbank range this week has been: NZDUSD .6200-.6250