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Whats happened with the NZD against the EURO this week?

Written by Sam Coxhead on December 16th, 2011.      0 comments

4:30 PM (NZT) This pair has been reasonably well contained this week, staying mostly with its recently established .5750-.5850 (EURNZD 1.7100-1.7400) range. Next week the NZ GDP data will likely be the key if we see a break from this range. It seems a little unlikely that we will see materially game changing news from Europe ahead of year end now, so any sentiment changes will see the NZD and EUR move in unison, within reason. Current levels represent reasonably fair levels, and are close to where we started the year.
 
The current interbank midrate is:                                                            NZDEUR .5805                                          EURNZD 1.7226
                                                               
The interbank range so far this week to date has been:                 NZDEUR .5744 - .5835                            EURNZD 1.7138 – 1.7409
 

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