DirectFX-phone-number-and-phone-image3.gif

p_7_top.jpg

Get a free Quote

Name
Email
Phone
From CCY
To CCY
Amount
Message
please type the characters you see:
(spam filter)
spam control image
 
p_1_top.gif

Apply now

Obligation free account and currency commentary btn_apply_for.gif
p_1_bottom.gif
Browse By Topic
Archive

FX News

Most recent FX News:

Read more

What is going on with the rate for NZD EUR?

Written by Sam Coxhead on September 23rd, 2011.      0 comments

11:25 AM (NZT)
The first half of the week saw a stable and well contained range for the NZD/EUR. However following the downbeat assessment from the Federal Reserve at their monetary policy announcement, all growth assets like the NZ dollar have come under significant pressure. Adding to the NZ dollars’ woes was the worse than expected 2nd quarter GDP number. The price weakness has continued in offshore markets overnight. The equity markets around the globe are 3-5% lower and all risk appetite has been dramatically reduced. This pair has bounced from the crucial support level at .5750 for the time being. If the equity markets continue to sell off, this support level will become vulnerable. In terms of NZD appreciation, it should be limited in the short term, any gains will probably be made on news that European authorities have taken some action to curb the debt crisis.
 
The current Interbank price NZD/EUR : .5810
 
The Interbank range so far this week NZD/EUR : .5758/.6055
 

Comments