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Euro to NZD – 1 NZD to EUR

When converting New Zealand dollars, NZD to EUR or EUR to NZD, by exchanging via Direct FX, you will save a significant amount of money. Our wholesale currency exchange rates for money transfers are significantly more competitive than bank foreign exchange rates. Being Australasian based, we specialise in knowing what drives NZD/EUR currency conversion rates.

NZD to EUR Overview: The NZD is regarded as a “growth currency”, and will therefore generally appreciate when the global economic outlook is positive. Whilst he EURO encompasses is a melting pot of countries, its overall performance is heavily driven by the economic fortunes of Germany, and its manufacturing base. Whilst the economies of New Zealand and the Euro zone individually have little in common, the NZD to EUR exchange rate remains a relatively stable one, when compared to others. The EURO will be interesting to watch as it challenges the USD as the global reserve currency.

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Historical Ranges: 1 year 5 years 10 years
NZD/EUR .6217 – .6880 .5216 – .7206 .3875 – .7206
EUR/NZD 1.4533 – 1.6086 1.3878 – 1.9172 1.3878 – 2.5820

Current Official Cash Rates:
Reserve Bank of New Zealand (RBNZ): 1.75%         European Central Bank (ECB): -0.30%

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The New Zealand Dollar (NZD) has been the best performing currency this week. Against the Euro (EUR) however we have seen downward pressure develop on the cross with it coming off its high of 0.6130 (1.6320) midweek to soften to 0.6040 (1.6560) Risk off moves have dominated over the last couple of days with equities dropping over 3% overnight and Crude Oil down 3.40%. We still favour price action to the topside with the Italian Budget concerns expected to weigh on the EUR with the game of chicken still not over between Rome and the EU. Rumours suggest Rome should eventually give in the EU budget requests which could in turn strengthen the EUR. Next week the ECB will announce their cash rate as unchanged from the 0.0% and reiterate concerns of a slowdown in the Eurozone.

Exchange Rates

The current interbank midrate is:NZDEUR 0.6045   EURNZD 1.6540
The interbank range this week has been:NZDEUR 0.6035- 0.6127   EURNZD 1.6320- 1.6570

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The New Zealand Dollar (NZD has outperformed the Euro (EUR) and looks to retest the 0.6160 (1.6230) resistance level of August 2017. Currently trading around the 0.6105 (1.6380) mark the Euro lost early ground on Monday’s open after risk sentiment improved over the weekend stemming from positive news out of the G20 meeting in Argentina. The Italian Budget seems to be making progress with the concrete 2019 budget of 2.4 Billion now looking like to could shift to 2.0- 2.2 Billion with the EU putting pressure on them to lower it. If this doesn’t happen and the Italians remain defiant in retaining their budget at or around 2.4B the EU could step in as early as December 20th to instigate disciplinary action for breaking the EU fiscal rules. ECB’s Draghi speaks on Wednesday.

Exchange Rates
Current Level: 0.6106 (1.6372)
Resistance: 0.6157 (1.6800)
Support: 0.5950 (1.6240)
Last Weeks Range: 0.5982-0.6119 (1.6342-1.6717)

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The New Zealand Dollar (NZD) broke below early October levels this week against the Euro (EUR) to 1.6510 on the back of less hawkish talk from the Federal Reserve. The Italian Budget seems to be making progress with the concrete 2019 budget of 2.4 Billion now looking like to could shift to 2.0- 2.2 Billion with the EU putting pressure on them to lower it. If this doesn’t happen and the Italians remain defiant in retaining their budget at or around 2.4B the EU could step in as early as December 20th to instigate disciplinary action for breaking the EU fiscal rules. The NZD will meet resistance around 0.6150 (1.6250) if topside momentum continues.

Exchange Rates

The current interbank midrate is:NZDEUR 0.6023   EURNZD 1.6603
The interbank range this week has been:NZDEUR 0.5962- 0.6055   EURNZD 1.6516- 1.6773

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The New Zealand Dollar (NZD) has continued its sideways theme against the Euro (EUR) Monday after three weeks of range bound action. Trading around the 0.5990 (1.6700) area Tuesday the NZD recovered after opening Monday slipping to 0.5960 (1.6780) on worse than expected NZ Retail Sales figures. The Italian Budget seems to be making progress with the concrete 2019 budget of 2.4 Billion now looking like to could shift to 2.0- 2.2 Billion with the EU putting pressure on them to lower it. An agreement should see the Euro improve and retest the high of 15 November at 0.6045 (1.6550)

Exchange Rates
Current Level: 0.5968 (1.6755)
Resistance: 0.6040 (1.7150)
Support: 0.5830 (1.6550)
Last Weeks Range: 0.5955-0.6025 (1.6600-1.6790)

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As we suspected price action has travelled back under the physiological level of 0.6000 (1.6660) Friday in the New Zealand (NZD) Euro (EUR) pair, down to 0.5975 (1.6740) as risk conditions improved in the Eurozone and with Brexit. Its early days yet but a break outside the long term bullish channel held since 8 October from 0.5580 (1.7920) could be in play suggesting a retest of 0.5850 (1.7100). Certainly, if Italy can resolve their 2019 budget forecast differences with the EU we may see further EUR support through to Christmas develop.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5964   EURNZD 1.6767
The interbank range this week has been:NZDEUR 0.5960- 0.6028    EURNZD 1.6590- 1.6790

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Risk off market sentiment has bought back selling of risk associated products such as the New Zealand Dollar (NZD). The kiwi reached a high last week of 0.6040 (1.6722) against the Euro (EUR) but Monday’s mood change has seen the Euro recover back to 0.5980 (1.6760) support. US equity markets took a hammering we suspect the fallout between the unsettling dialogue between Xi Jinping and Mike Pence. Analysts are suggesting the US are adopting a tougher tone in dealings with China. Certainly, Mike Pence behaved inappropriately given the magnitude of the situation with the ongoing trade tariff disputes. If risk off sentiment continues we could see the kiwi break below 0.6000 (1.6660) and retest 0.5880 (1.7000)

Exchange Rates
Current Level: 0.5972 (1.6744)
Resistance: 0.6040 (1.6760)
Support: 0.5965 (1.6550)
Last Week’s Range: 0.5964-0.6039 (1.6559-1.6767)

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The New Zealand Dollar (NZD) grew another leg against the struggling Euro (EUR) this week as markets digested a plethora of headlines. The pair has reached 1.6550 hovering around the yearly low of 0.6055 (1.6515) with Brexit the main event. In what has been an extraordinary turn of events (literally) from late September when the cross was trading at 0.5586 (1.7900) the Euro has depreciated six weeks straight. With Rome rejecting the EU demands to revise their 2.4% deficit we may see the pair break through 0.6055 (1.6515) and retest 0.6160 (1.6230), September 2017 resistance in the coming days.

Exchange Rates

The current interbank midrate is:NZDEUR 0.6025   EURNZD 1.6597
The interbank range this week has been:NZDEUR 0.5945- 0.6038  EURNZD 1.6560- 1.6820

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The Euro (EUR) consolidated around the 0.5945 (1.6820) area against the New Zealand Dollar (NZD) late last week but has drifted lower Monday on Italian Budget issues. Italy have until the end of today to present the EU with their revised budget proposal after the first draft was rejected by the EU on grounds it didn’t meet rules on debt. The first copy suggested a deficit of 2.4% for 2019 well outside the EU’s target. Buyers of EUR will be happy with the massive reversal from the low of 0.5585 (1.7910) early October to current levels. Long term resistance of 0.6000 (1.6660) and 0.6030 (1.6580) sits perilously close. This week’s economic docket is light with Draghi speaking on Friday.

Exchange Rates
Current Level: 0.5981 (1.6720)
Resistance: 0.6035(1.6840)
Support: 0.5940 (1.6570)
Last Week’s Range: 0.5829-0.5995 (1.680-1.7157)

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The Euro (EUR) consolidated around the 0.5945 (1.6820) area against the New Zealand Dollar (NZD) late last week but has drifted lower Monday on Italian Budget issues. Italy have until the end of today to present the EU with their revised budget proposal after the first draft was rejected by the EU on grounds it didn’t meet rules on debt. The first copy suggested a deficit of 2.4% for 2019 well outside the EU’s target. Buyers of EUR will be happy with the massive reversal from the low of 0.5585 (1.7910) early October to current levels. Long term resistance of 0.6000 (1.6660) and 0.6030 (1.6580) sits perilously close. This week’s economic docket is light with Draghi speaking on Friday.

Exchange Rates
Current Level: 0.5981 (1.6720)
Resistance: 0.6035(1.6840)
Support: 0.5940 (1.6570)
Last Week’s Range: 0.5829-0.5995 (1.680-1.7157)

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The Euro (EUR) offered no contest against the New Zealand Dollar (NZD) this week with the Euro dropping to levels not seen since June this year trading at 0.5945 (1.6820). With NZ employment numbers printing so well the kiwi has been the standout this week across the board. The RBNZ kept rates unchanged as expected Adrian Orr reiterating that we would see no change to policy until well into 2019-2020 with the bias slightly skewed to hawkish with projected growth forecasts. We suspect the NZD should run out of puff soonish so we expect a reversal in price towards 0.5850 (1.7100) next week.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5948   EURNZD 1.6815
The interbank range this week has been:NZDEUR 0.5818- 0.5918   EURNZD 1.6805- 1.7187

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The Euro (EUR) continued its decline last week against the New Zealand Dollar (NZD) dropping to 0.5840 (1.7130). We see further declines in the Euro likely through to Thursday’s RBNZ announcement where the cash rate is expected to remain unchanged at 1.75%. A retest of 0.5880 (1.7000) is the next target with a with a lack of Eurozone data to publish. The bullish channel from 0.5585 (1.7910) is still in play, we don’t see this being broken in the medium term.

Exchange Rates
Current Level: 0.5837 (1.7130)
Resistance: 0.5865 (1.7350)
Support: 0.5765 (1.7050)
Last Week’s Range: 0.5736-0.5861 (1.7063-1.7435)

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The New Zealand Dollar (NZD) has been to strong for the struggling Euro (EUR) this week posting a fresh high of 0.5840 (1.7130). Even with renewed optimism with Brexit headlines the Euro should be trading higher as it has against the big dollar. A combination of Chinese data along with US equities up over 1% overnight saw risk return. Australian Trade Balance printed Thursday well above expectations saw the kiwi go along for the ride pushing to a two month high. We see further declines in the Euro likely through to next week’s RBNZ announcement where the cash rate is expected to remain unchanged at 1.75%. We think a retest of 0.5880 (1.7000) could be targeted next week with a lack of Eurozone data to publish.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5843   EURNZD 1.7114
The interbank range this week has been:NZDEUR 0.5686 – 0.5845   EURNZD 1.7107 – 1.7587

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Choppy conditions in the New Zealand (NZD), Euro (EUR) pair saw price action reach 0.5690 (1.7580) late in the Friday sessions before risk conditions improved sending the Euro lower Monday to 0.5760 (1.7360). It’s a light data calendar this week for the pair with German and Spanish GDP to publish tomorrow and NZ ANZ Business confidence Friday. French and Italy are on holiday Thursday, we are not expecting price to vary far from current levels around 0.5740 (1.7430)

Exchange Rates
Current Level:  0.5740 (1.7422)
Resistance: 0.5765 (1.7590)
Support: 0.5685 (1.7350)
Last Week’s Range: 0.5686-0.5756 (1.7374-1.7587)

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The New Zealand Dollar (NZD) has been choppy this week against the Euro (EUR) pivoting around the 0.5730 (1.7460) area as markets waited for the ECB meeting. Mario Draghi left the benchmark rate on hold as widely anticipated highlighting he would do away with the quantitative easing program at the end of 2018. The Euro slid to 0.5740 (1.7410) after the announcement but has since regained losses to trade back at 1.7440 late NZ morning. Earlier in the week German and French manufacturing published down on market expectations with German manufacturing growing at the slowest pace in over 3 years. The kiwi has confirmed the breakaway this week from the low of 0.5580 (1.7920) earlier in October and looks to 0.5780 (1.7300) as the next resistance level.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5731   EURNZD 1.7449
The interbank range this week has been:NZDEUR 0.5705 – 0.5762   EURNZD 1.7357 – 1.7529

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The New Zealand dollar (NZD) has been putting in a solid recovery against the Euro (EUR) over the past week and there is definitely potential for this to extend further yet. Stronger than forecast NZ inflation data on Tuesday helped the Kiwi dollar and saw the NZDEUR break above initial resistance around the 0.5690 area. This opens the way from a much broader recovery toward 0.5845, although there is the small hurdle of minor resistance around 0.5720 which the market look like it will test today. Assuming that barrier is overcome, I would look for further gains over the coming week.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5705   EURNZD 1.7529
The interbank range this week has been:NZDEUR 0.5616 – 0.5716   EURNZD 1.7496 – 1.7807

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New Zealand (NZD) quarterly CPI figures Tuesday printed up on market expectation sending the kiwi to 0.5700 (1.7560) vs the Euro (EUR). Risk sentiment is tough to gauge at the moment, with US equities coming off over 5% in the last week, as we would usually see the NZD – a risk related currency – go much lower than it has done against the Euro. Midday Tuesday we have seen the NZD retrace lower back to 0.5670 (1.7630). The 12 June bearish decline from 0.6025 (1.6600) is still on the board with further declines in the kiwi likely.

Exchange Rates
Current Level: 0.5674 (1.7625)
Resistance: 0.5700 (1.7920)
Support: 0.5580 (1.7550)
Last Week’s Range: 0.5595-0.5694 (1.7563-1.7875)

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After the New Zealand dollar (NZD) rebounded off the low of 0.5575 (1.7940) earlier in the week against the Euro (EUR) the pair travelled to a high of 0.5645 (1.7720) on Italian Budget headlines. Investors are perceiving the Italian budget and debt levels to be far too risky as Italy try to resolve the problem of increasing growth without raising debt levels. Risk sentiment is hard to gauge at the moment, with US equities coming off over 5% in the past two days we would usually see the NZD – a risk related currency – go much lower than it has done against the Euro and other crosses. Resistance around the 0.5650 (1.7700) area seems to be holding well but for how long is the question, next week Brexit headlines and NZ CPI will be key.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5629   EURNZD 1.7764
The interbank range this week has been:NZDEUR 0.5578 – 0.5643   EURNZD 1.7721 – 1.7928

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The New Zealand Dollar (NZD) has made back losses early this week against the Euro (EUR) bouncing from the low of 0.5575 (1.7940) to trade back to 0.5610 (1.7820). Softer German industrial production and Italian budget headlines have put the Euro on the back foot. Investors are perceiving the Italian budget and debt levels to be far too risky as Italy try to resolve the problem of increasing growth without raising debt levels. August 2015 level around 0.5550 (1.8000) looks to close for comfort, further NZD weakness could see a retest of this level.

Exchange Rates
Current Level: 0.5611 (1.7822)
Resistance: 0.5715 (1.7920)
Support: 0.5580 (1.7500)
Last Week’s Range: 0.5578-0.5720 (1.7482-1.7928)

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The New Zealand Dollar (NZD) has retraced lower to 0.5625 (1.7780) this week against the Euro (EUR) after trading at 0.5720 (1.7480) Monday. NZ based data this week has put further pressure on the kiwi with Business sentiment and Dairy prices worse than expected. Broad range US strength has also seen risk currencies go lower, US ADP employment printed well up on expectations with Non-Farm Payroll to come tonight. The September 10 Low of 0.5610 (1.7820) from September 2015 looks be close to breaching, certainly sellers of EUR can’t go wrong.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5626   EURNZD 1.7774
The interbank range this week has been:NZDEUR 0.5624- 0.5720   EURNZD 1.7482- 1.7782

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Concerns in the Eurozone’s Italy linger and have made for a choppy New Zealand Dollar (NZD), Euro (EUR). With Italy’s budget issues making markets nervous the pair has traded to a high of 0.5720 (1.7480) from early week lows of 0.5680 (1.7600) with direction at this point tough to pick. Initially German Retail Sales shocked the Euro sending it lower along with Tuesday’s NZIER business confidence falling short of expectations. Wednesday sees a German bank holiday, if nothing changes with Italy’s situation we could see weekly lows retested.

Exchange Rates
Current Level:   0.5705 (1.7528)
Resistance: 0.5730 (1.7700)
Support: 0.5650 (1.7460)
Last Week’s Range: 0.5642-0.5720 (1.7482-1.7725)

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The Euro (EUR) started the week out positively continuing its previous week’s bullish move against the New Zealand Dollar (NZD) but ran into stiff support at 0.5640 (1.7730) retracing back to the weekly open of 0.55685 (1.7590) after the RBNZ left rates unchanged Thursday, surprising markets with a less than dovish monetary policy statement. The RBNZ governor Orr said the next change in the cash rate could be up or down but said any shift would not come before 2019 more likely 2020. These comments alone can only increase the chances of a broader weaker NZD, we remain bearish on the NZD with the pair to possibly challenge support at 0.5550 (1.8030) in the near future.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5680   EURNZD 1.7605
The interbank range this week has been:NZDEUR 0.5642- 0.5708   EURNZD 1.7519- 1.7725

View NZDEUR charts

0.5693 to 0.5655 where it is currently trading. It should trade around current levels ahead of the RBNZ result on Thursday. Longer term we favour NZD downside.

Exchange Rates
Current Level: 0.5652 (1.7693)
Resistance: 0.5720 (1.7857)
Support: 0.5600 (1.7153)
Last Week’s Range: 0.5623-0.5697 (1.7553-1.7783)

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Patchy European data, concerns around Italian politics and a better GDP figure have pushed this cross higher over the last few days from 0.5624 to 0.5703. Now at 0.5675 we expect current levels to hold heading into next week ahead of the Fed decision on Wednesday.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5675   EURNZD 1.7622
The interbank range this week has been:NZDEUR 0.5622 – 0.5697   EURNZD 1.7553 – 1.7787

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The New Zealand Dollar (NZD) continues to trade at extreme levels against the Euro (EUR) creating lower highs and lower lows in the long-term trend which has held since February 2017. Trading at 0.5630 (1.7760) Tuesday the Euro now eyes 0.5555 (1.8000) the August 2015 low. ECB’s Draghi speaks twice this week in Paris and in Berlin on matters relating to monetary policy, locally second quarter NZ GDP is the main even on the docket with markets expecting a significant rise to first quarter results. Sellers of Euro should be extremely happy with more downside expected.

Exchange Rates
Current Level: 0.5629 (1.7765)
Resistance: 0.5650 (1.7820)
Support: 0.5610 (1.7710)
Last Week’s Range: 0.5610 – 0.5659 (1.7670 – 1.7824)

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It’s an understatement to say the New Zealand Dollar (NZD) has been on the backfoot against the Euro (EUR). We have been breaking through all kinds of support lately, this week has been no different. With the pair trading currently at 0.5610 (1.7820) the kiwi has registered fresh lows every week except two since 12 June 2018 with no end in sight. The ECB announced their benchmark cash rate overnight leaving it unchanged taking the pair off a short period of NZD strength back to 0.5610 (1.7800) Next week we have German Manufacturing and NZ quarterly GDP.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5626   EURNZD 1.7774
The interbank range this week has been:NZDEUR 0.5610 – 0.5669   EURNZD 1.7639 – 1.7824

View NZDEUR charts

The New Zealand Dollar (NZD) has started the week lower again against the Euro (EUR) in its 5th straight week on declines from the low of 0.5800 (1.7230) in mid August. Its currently trading at 0.5625 (1.7780), a September 2015 low. With current market conditions affecting risk currencies we see further weakness likely for the NZD with intl trade uncertainties still very much affecting the way markets behave. Trading at these extreme levels makes for tough times gauging price action with a trend reversal likely at some point but perhaps not in the short term. Long range support is seen at 0.5550 (1.8000)

Exchange Rates
Current level: 0.5630 (1.7762)
Resistance: 0.5680 (1.8000)
Support: 0.5555 (1.7600)
Last Week’s Range: 0.5622 – 0.5691 (1.7572 – 1.7788)

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The New Zealand dollar (NZD) has been in a significant downtrend against the Euro (Euro) since mid-August. That downward momentum drove the pair to a fresh cycle low of 0.5639 this week. That’s also the lowest levels since June 2015. At this stage there are no signals that the negative trend has run its course, and as such for the time being the risks remain skewed to further NZDEUR weakness. That being said, the overall move is starting to look a little long in the tooth, and we are very alert to any potential signs that downside momentum may be fading. A move back above initial resistance around 0.5685 would be one such signal. Until we actually see some signs however, we have to respect the current trend.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5669   EURNZD 1.7641
The interbank range this week has been:NZDEUR 0.5639 – 0.5710   EURNZD 1.7513 – 1.7734

View NZDEUR charts

The Euro (EUR) has completely outperformed the New Zealand dollar (NZD) over the past week in a continuation of the move that started from around 0.5800 in mid-August. The pair currently trades at 0.5680, having broken below the December 2017 low of 0.5722 (1.7477), and for the time being the risks remain to the downside as the NZD suffers a nasty hangover from declining business confidence. The next key support level is some way off at 0.5550, and that would make a great target for those looking to convert EUR back into NZD, assuming they have time on their side.

Exchange Rates
Current Level: 0.5684 (1.7592)
Resistance: 0.5800 (1.8019)
Support: 0.5550 (1.7241)
Last Week’s Range: 0.5680 – 0.5752 (1.7386 – 1.7386)

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The Euro continues to make gains over the New Zealand Dollar (NZD) the third straight week the kiwi has posted declines. Positive Brexit news and German Manufacturing helped boost the EUR to fresh lows versus the kiwi. Breaking past the support line of 0.5750 (1.7400) midweek we have seen the pair reach 0.5700 (1.7550) – September 2015 levels. From here we expect further declines in the kiwi but with a lack of any fundamental data to publish next week direction will be limited to risk factors.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5696  EURNZD 1.7556
The interbank range this week has been:NZDEUR 0.5683- 0.5761  EURNZD 1.7359- 1.7597

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The NZD continues to remain soft against the EUR now around the 0.5737 level as better German data overnight pushed the EUR higher…with little data due this week we expect current ranges to hold , but with better European data expected we look for the NZD to drop to test the 0.5725 support mark later this  week early next.

Exchange Rates
Current Level: 0.5728 (1.7427)
Resistance:0.5810 (1.7470)
Support:  0.5725 (1.7220)
Lsat Week’s Range: 0.5728 – 0.5803 (1.7233-1.7458)

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The New Zealand Dollar (NZD) has depreciated over the week continuing its poor performance from the previous week against the Euro (EUR). NZ Retail Sales created a small NZD recovery back to 0.5800 (1.7230) but it then slid lower on overall US strength and risk averse conditions with the kiwi retracing to 0.5740 (1.7430). German and French Manufacturing helped the EUR after figures reported a buoyant manufacturing sector with figures printing up on expectations. 0.5725 (1.7470) holds key support for the cross, the low of September 2015, a break through here could spell further declines for the kiwi.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5747   EURNZD 1.7400
The interbank range this week has been:NZDEUR 0.5739- 0.5806   EURNZD 1.7223- 1.7425

View NZDEUR charts

The Euro (EUR) has traded higher against the New Zealand Dollar (NZD) this week to 0.5790 (1.7280) breaking the 0.5800 (1.7240) physiological handle. The cross continues to consider the idea of breaking support at 0.5725 (1.7470), being the lowest level since September 2015, but recent buoyant Eurozone economic data has been overshadowed by risk support for the kiwi. The only first tier data to publish this week is NZ Retail Sales which is expected to be in line with expectations of 0.4% considerably higher than last month’s 0.1%. Also to watch is a slew of Euro manufacturing figures out in Germany and France.

Exchange Rates
Current Level: 0.5773 (1.7322)
Resistance: 0.5810 (1.7490)
Support: 0.5720 (1.7215)
Last Week’s Range: 0.8563 – 0.8681 (1.7222 -1.7326)

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The New Zealand Dollar (NZD) shifted to a multi year low of 0.5720 (1.7480) against the Euro (EUR) late last week with the kiwi underperforming. With the Turkish Lira plunging and putting a strain on the Eurozone the Euro has given back most of last week’s gains trading back at 0.5795 (1.7260) Friday. NZ Producer Index figures release today and should show an increase of 0.2% in line with previous months good numbers. Direction from here is anyone’s guess as the recent bouncy price action is not showing any form of obvious consolidation zone.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5795   EURNZD 1.7255
The interbank range this week has been:NZDEUR 0.5725 – 0.5802   EURNZD 1.7222 – 1.7468

View NZDEUR charts

The New Zealand Dollar (NZD) has traded to a multi year low versus the Euro (EUR) in a week where we saw a large shift in EUR buying interest but mostly NZD weakness. Last week’s range was significant with the pair starting out at 0.5840 (1.7130) and travelling to 0.5720 (1.7485) post RBNZ announcement and as markets turned risk averse. As we look over the chart its clear we are hovering just shy of the long term trend line of October 2015. Further NZD weakness particularly if German economic sentiment prints well could bring about a break lower.

Exchange Rates
Current Level: 0.5773 (1.7332)
Resistance: 0.5840 (1.7480)
Support: 0.5720 (1.7120)
Last Week’s Range: 0.5718 – 0.5829 (1.7155 – 1.7487)

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The New Zealand Dollar (NZD) sits close to breaking long-term support of 0.5740 (1.7430) against the Euro (EUR) Friday after yesterday’s RBNZ statement sent the kiwi into the abyss. Prior to the RBNZ release where the cash rate was left unchanged at 1.75% the pair was trading at a respectable 0.5813 (1.7200) comfortable in its long-term band. Adrian Orr certainly spooked market players with an overly dovish statement saying he could actually lower rates if growth didn’t meet future targets. The Cash rate is also expected to remain at 1.75% well into June 2020. From here we see further declines in the kiwi to come, currently trading at 0.5743 (1.7417)

Exchange Rates

The current interbank midrate is:NZDEUR 0.5723   EURNZD 1.7473
The interbank range this week has been:NZDEUR 0.5718- 0.5841   EURNZD 1.7122- 1.7487

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The New Zealand Dollar (NZD) Friday travelled to a low of 0.5805 (1.7225) against the Euro (EUR) before bouncing back to 0.5834 (1.7140) as risk currencies benefited. The pair is still operating within its 3 week range of 0.5840 (1.7120) and 0.5800 (1.7250). The main news of the week will be the RBNZ Official Cash Rate announcement on Thursday where the rate is widely expected to remain at 1.75% with a neutral bias expected. With no Euro data to come out this week we should see further choppy movement continue.

Exchange Rates
Current Level: 0.5822 (1.7176)
Resistance: 0.5850 (1.7370)
Support: 0.5757 (1.7088)
Last Week’s Range: 0.5805 – 0.5843 (1.7115 – 1.7227)

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The New Zealand (NZD), Euro (EUR) pair has continued on its early week directionless theme. A bunch of data has published over the week starting with ANZ Business confidence and ending with NZ Unemployment data has taken the pair on a journey from 0.5835 (1.7140) to 0.5810 (1.7220) and back. Actually, the EUR is trading slightly higher as I write this at 0.5820 (1.7180) just off the weekly open. Next week have RBNZ cash rate Thursday with no change expected at 1.75%

Exchange Rates

The current interbank midrate is:NZDEUR 0.5806   EURNZD 1.7222
The interbank range this week has been:NZDEUR 0.5805 – 0.5843   EURNZD 1.7115 – 1.7227

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The Euro (EUR) , New Zealand Dollar (NZD) has started the week lacking any sort of real direction, trading at 0.5830 (1.7150) – the weekly open. I think the pair is ready for a breakout through 0.5840 (1.7120) and with a heap of Spanish and German Manufacturing numbers to release as well as NZ Unemployment data we should see some action. With NZ consumer confidence falling in June we have seen deterioration in the kiwi as well of note.

Exchange Rates
Current Level: 0.5820 (1.7182)
Resistance: 0.5845 (1.7300 )
Support: 0.5780 (1.7117)
Last Week’s Range: 0.5798 – 0.5841 (1.7119 – 1.7248)

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The New Zealand Dollar (NZD) gained on the Euro slightly over the week trading 20 points stronger to 0.5830 (1.7160) midday Friday. Manufacturing data earlier in the week was benign shifting the EUR slightly to the downside with worse than expected French data.  Draghi delivered a confident assessment of the Eurozone expected recovery last night and left rates unchanged sticking to his plan laid out in June to phase out the asset purchasing program by the end of the year. As we know he reiterated there would be no lifting of rates until June 2019. Next week we have German Retail Sales and ANZ Business confidence along with NZ Unemployment numbers Wednesday. We expect the pair to stay within its band of 0.5825 (1.7170) and 0.5763 (1.7350) for several days.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5821   EURNZD 1.7179
The interbank range this week has been:NZDEUR 0.5781- 0.5837   EURNZD 1.7133- 1.7299

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Manufacturing data is high on the list of driving price action this week in the New Zealand (NZD), Euro (EUR) cross with ECB announcing their cash rate later in the week. A quiet week for kiwi data with only the Trade Balance to print markets will look to French and German Manufacturing figures for clarity on direction. Choppy since 28th of June the pair has been operating in a band of 0.5840 (1.7110) and 0.5770 (1.7330) Trading currently at 0.5800 (1.7230) it’s anyone’s guess as to direction from here.

Exchange Rates

Current Level:0.5804 (1.7229)

Resistance: 0.5850 (1.7330)

Support: 0.5770 (1.7100)

Last Week’s Range: 0.5781 – 0.5840 (1.7122 – 1.7299)

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Now around 0.5793, the New Zealand dollar (NZD) has weakened on this cross after a high for the week at 0.5842 yesterday after USD strength overnight weighed more on the NZD than EUR. The pair should hold at current levels to open next week but the NZD looks the weaker of the pair. A push back to 0.5800 level is likely early next week.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5783   EURNZD 1.7292
The interbank range this week has been:NZDEUR 0.5776 – 0.5840   EURNZD 1.7122 – 1.7313

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Currently sitting around 0.5790 on some short covering after the NZ CPI data this morning. Overall trend remains down for the NZD on this cross but direction remains dependent on equivalent USD strength and tariff moves on each of these cross pairs. Current range should hold over the next couple of days.

Exchange Rates
Current Level: 0.5791 (1.7268)
Resistance: 0.5830 (1.7421)
Support: 0.5740 (1.7153)
Last Week’s Range: 0.5776 – 0.5833 (1.7143 – 1.7313)

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Choppy week with a 0.5780-0.5834 range , although the trend looks to be for gradual NZD strength on this cross…now trading around 0.5807 helped by a slight return of risk appetite. Future direction will likely be driven my further news in the tariff row.

Exchange Rates
The current interbank midrate is:NZDEUR 0.5808   EURNZD 1.7217
The interbank range this week has been:NZDEUR 0.5781- 0.5833   EURNZD 1.7143- 1.7299

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After a low last week at 0.5755 the NZD is back around 0.5826 and with the ECB cautionary stance on rate hikes allied with a cautionary RBNZ this cross looks to be marking time over the short term…New Zealand data continues to remain soft , but then news from the Eurozone is not much better and the looming trade war scenario should cap any EUR rallies.
Look for trading to remain inside the 0.5795-0.5830 over the next day or so.

Exchange Rates
Current Level: 0.5827 (1.7161)
Resistance:  0.5830 (1.7421)
Support: 0.5740 (1.7153)
Last Week’s Range: 0.8832 – 0.8983 (1.7157 – 1.7378)

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The New Zealand Dollar (NZD) has continued its decline from the high of 0.6030 (1.6580) of 14th June against the Euro (EUR) slipping below 0.5900 (1.6950) to reach a low of 0.5760 (1.7370) Wednesday. The cross has traded in a tight band over the last couple of days with US Independence Day making sure volume has been light. New Zealand Business confidence and a weak GDT result (Global Dairy Auction) took the kiwi slightly lower but still operating in areas around 0.5820 (1.7200)

Exchange Rates

The current interbank midrate is:NZDEUR 0.5808   EURNZD 1.7217
The interbank range this week has been:NZDEUR 0.5754- 0.5833   EURNZD 1.7144- 1.7378

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The kiwi Dollar (NZD) has continued its decline from the high of 0.6030 (1.6580) of 14th June against the Euro (EUR) slipping below 0.5900 (1.6950) to reach a low of 0.5760 (1.7370) Wednesday. With German geopolitical worries at the forefront of EUR direction we have yet to see the NZD stabilise. New Zealand Business confidence and a weak GDT result (Global Dairy Auction) has not helping the kiwi. The cross trades just below support of 0.5820 (1.7200) and hangs in the balance with no additional data releasing over the week. We think a retest of 0.5725 (1.7470) could been in jeopardy over the coming days.

Exchange Rates
Current Level: 0.5795 (1.7256)
Resistance: 0.5825 (1.7400)
Support: 0.5750 (1.7170)
Last Week’s Range: 0.5754 – 0.5891 (1.6976 – 1.7378)

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The Euro (EUR) has gained on the New Zealand Dollar (NZD) for the third straight week easing lower to 0.5840 (1.7130). German CPI was benign overnight printing at 0.1% based on expectation the figure would be closer to 0.2%, year on year this represents a rise of 2.1% to June 2018. European leaders are meeting in Brussels for a two day summit with some dark days ahead. High on the agenda is the ongoing escalating trade war. The RBNZ cash rate announcement had no surprises with markets generally expecting a dovish statement with the rate remaining unchanged at 1.75%. Adrian Orr hinted the economy could be operating at slightly slower than anticipated at this stage of the year. He said while the May monetary policy remains intact the main drivers of the economy may not be as strong as first thought. If the kiwi weakens further we may see a retest of 0.5714 (1.7500) for now the pair is trading at the bottom of the yearly range of 0.5845 (1.7110)

Exchange Rates
The current interbank midrate is:NZDEUR 0.5821   EURNZD 1.7180
The interbank range this week has been:NZDEUR 0.5816 – 0.5944   EURNZD 1.6823 – 1.7195

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The New Zealand Dollar (NZD) continues to bank losses against the Euro (EUR) pushing to a low of 0.5882 (1.7000) and significantly lower than the physiological 0.6000 level which has offered solid resistance for a long time. German manufacturing figures and Purchasers Managers Index numbers published late last week were very positive, buyers of Euro bidding the EUR higher. We see thin air back to 0.5850 (1.7100) support but suspect on further EUR weakness over the next fortnight we could see a bounce back to 0.6000 (1.6660)

Exchange Rates
Current Level: 0.5890 (1.6978)
Resistance: 0.5950 (1.7060)
Support: 0.5860 (1.6800)
Last Week’s Range: 0.5886 – 0.5986 (1.6706-1.6990)

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The New Zealand Dollar (NZD) has suffered further weakness against the Euro (EUR) over the week as it extended the decline from last week high of 0.6035 (1.6570) trading to 0.5920 (1.6900) in a market still dominated by US and China trade discussions. NZ quarterly GDP was released yesterday at the widely expected 0.5% and had no real immediate influence on the pair until several hours past when broad-based NZD weakness entered the markets with investors selling the NZD. The EUR has also benefited from some bullish sentiment in the GBP with the Bank of England leaving the cash rate unchanged at 0.5%. German Manufacturing is tonight. We see further declines on the cards for the Euro back above the pivotal 0.6000 (1.6600) area.
The current interbank midrate is:NZDEUR 0.5924   EURNZD 1.6880
The interbank range this week has been:NZDEUR 0.5907- 0.6015   EURNZD 1.6624- 1.6928

Exchange Rates

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After the Euro (EUR) declined against the New Zealand Dollar (NZD) to 0.6035 (1.6570) late last week it retraced to close the week around 0.5980 (1.6725). The Euro has strengthened during the overnight sessions Tuesday to travel back below the pivotal figure of 0.6000 (1.6660) to 0.5970 (1.6750). The low of June at 0.5940 (1.6840) could now be retested if we see a lack of support in the kiwi. The Global Dairy Auction is Wednesday along with Eurozone Manufacturing figures later in the week.

Exchange Rates
Current Level: 0.5960 (1.6778)
Resistance: 0.6025 (1.6840)
Support: 0.5940 (1.6600)
Last Week’s Range: 0.5942-0.6037 (1.6556-1.6830)

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A hawkish statement by the ECB (European Central Bank) was expected but markets got this oh so wrong. The Euro (EUR) has traded in a tight range against the New Zealand Dollar (NZD) with a lack of local economic releases. Eurozone employment figures were up on the expected figure of 0.3% to 0.4% boosting the EUR to 0.5940 (1.6840) but this was short lived. With the ECB announcing they would not be hiking rates until well into 2019 this has sent the EUR into the abyss to 0.6035 (1.6570). This level above the physiological 0.6000 will send messages to markets, we expect further upside support through to 0.6150 (1.6250).

Exchange Rates
The current interbank midrate is:NZDEUR 0.6010   EURNZD 1.6638
The interbank range this week has been:NZDEUR 0.5942 – 0.6037   EURNZD 1.6564 – 1.6830

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We have seen renewed buying interest in the Euro (EUR) over the past week against the New Zealand Dollar (NZD), trading currently just off its low of 0.5950 (1.6810). This is mainly due to renewed enthusiasm the ECB will publish a hawkish statement this Friday. Although not guaranteed, the European Central Bank (ECB) will decide to tighten monetary policy later in 2018 leading to an interest rate hike. Positive developments in Italy have also buoyed the Euro contributing to take the pair off the recent highs. Markets will wait for the ECB for further direction in the pair with recent price action being very choppy.

Exchange Rates
Current Level: 0.5957 (1.6786)
Resistance: 0.6025 (1.6900)
Support: 0.5920 (1.6600)
Last Week’s Range: 0.5948 – 0.6023 (1.6603 -1.6813)

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The Euro (EUR) has found a little momentum this week against the New Zealand Dollar (NZD) rebounding off a high of 0.6025 (1.6600) to retrace back below the pivotal 0.6000 physiological level to 0.5950 (1.6800). The Euro has found renewed strength in the past few hours after hawkish comments were said around the inflation outlook boosting predictions for a positive ECB meeting next week. We still see uncertainty on the horizon in Spain and Italy and predict movement to retest 0.5850 (1.7100) The long term band (trading range) of 0.6000 (1.6650) and 0.5820 (1.7170) remains in place.

Exchange Rates
The current interbank midrate is:NZDEUR 0.5950   EURNZD 1.6806
The interbank range this week has been:NZDEUR 0.5948- 0.6023   EURNZD 1.6603- 1.6813

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The Euro (EUR) has continued to be sold off against the New Zealand Dollar (NZD) gaining momentum from last week’s low of 0.5785 (1.7280), pushing through to the magical -physiological level of 0.6000 (1.6670) where it currently trades. With further Eurozone pressures from Italy and Spain we expect a solid break through 0.6100 to develop as EUR weakens further. Next week sees a light calendar for the kiwi with only global dairy auctions.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5992   EURNZD 1.6690
The interbank range this week has been:NZDEUR 0.5931- 0.6019   EURNZD 1.6613- 1.6860

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The New Zealand Dollar (NZD) extended its gains on the EURO (EUR) after the pair spiked to 0.5990 (1.6700) on the weekly open. The would be coalition government formed in Italy has collapsed after President Sergio Mattarella rejected the nomination of Paolo Savona for Finance minister, as he said previously he wanted Italy to leave the eurozone. The EUR has battled since. With the pair trading just under large resistance of 0.6000 (1.66) it could be a good time to buy as we don’t see the NZD bouncing above this area.

Exchange Rates

Current Level: 0.5960 (1.6778)

Resistance: 0.6050 (1.7010)

Support: 0.5880 (1.6530)

Last Week’s Range: 0.5861 – 0.5985 (1.9142 – 1.9455)

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The EURO (EUR) has been sold off in large volume for the second week running, against a robust New Zealand Dollar (NZD). Reaching 0.5920 (1.6900) in a very choppy week with volatility showing a pronounced risk on/risk off tone with geopolitical tensions impacting. Personally I don’t expect the kiwi to push as high as 0.6000 the magical feel good level in the near term but a retrace back towards 0.5820 (1.7200) is more in line with Draghi suggesting recent temporary factors such as a harsh winter and a Strikes have contributed to weaker EURO sentiment.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5919   EURNZD 1.6894
The interbank range this week has been:NZDEUR 0.5831- 0.5923   EURNZD 1.6884- 1.7149

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The EURO (EUR) has continues to be a poor performer against the New Zealand Dollar (NZD) as the pair trades at the top of the current range of 0.5890 (1.6970) This range has been in place now for four weeks and until the cross breaks above 0.5900 (1.6930) we may see a retracement back down to 0.5800 (1.7250) this week. The New Zealand dollar lost ground early in the week when worse than expected Retail Sales released but has since looked like its balanced to make a charge higher. Eurozone manufacturing figures this week will be the test for the struggling EUR. ECB Monetary policy meeting is Thursday and should reflect the recent tone. With the new Italian government sorted perhaps we could see stability in the EUR price and a pull back to 0.5800 (1.7250)

Exchange Rates

Current Level: 0.5895 (1.6963)

Resistance:0.6000 (1.7280)

Support: 0.5790 (1.6660)

Last Week’s Range: 0.5782 – 0.5899 (1.6953 -1.7294)

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The New Zealand Dollar (NZD) found renewed support against the (EUR) following the New Zealand Budget announcement yesterday coming from 0.5803 (1.7230) to trade back at 0.5850 (1.7100). The pair has inched out of its recent sideways band this week between 0.5850 (1.7100) and 0.6000 (1.6700) which has held since early January suggesting a further slide lower to 0.5730 (1.7450) could be re tested.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5833   EURNZD 1.7145

The interbank range this week has been:NZDEUR 0.5782 – 0.5863   EURNZD 1.7055 – 1.7294

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The New Zealand Dollar (NZD) has broken through key support of 0.5835 (1.7140) against the Euro (EUR) to register a new low of 0.5790 (1.7270). Adrian Orr released his first monetary statement Thursday and was praised by markets for being specific with his delivery. The pair looks to be heading for a retest of 0.5740 (1.7420) The New Zealand Budget will be released Thursday at 2pm NZ time.

Exchange Rates

Current Level: 0.5788 (1.7277)

Resistance: 0.5900 (1.7430)

Support: 0.5740 (1.6960)

Last Week’s Range: 0.5788 – 0.5896 (1.6962-1.7277)

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The New Zealand Dollar (NZD) has lost ground against the Euro (EUR) this week. It gapped significantly lower over the RBNZ release Thursday to 0.5820 (1.7180). Adrian Orr released his first monetary statement and was praised by markets for being clear and concise with his comments. The kiwi drifted higher off the low during the overnight sessions to 0.5850 (1.7100). Long term we continue to see a real lack of direction in the pair trading around 0.5850 (1.7100) since October 2017. A break above 0.6000 (1.6620) for the cross seems elusive.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5840   EURNZD 1.7125

The interbank range this week has been:NZDEUR 0.5821 – 0.5896   EURNZD 1.6962 – 1.7179

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The EURO (EUR) and New Zealand Dollar (NZD) pair has recently broken from its range bound theme travelling to a low of 0.5800 (1.7250) where strong support saw a bounce back to 0.5880 (1.7000). Last week we saw the NZ unemployment rate hold 4.4% as expected in line with 4.5% recorded the quarter prior continuing the downward trend from November 4 2015 where figures peaked at 6.00%. Thursday we have the RBNZ official cash rate which is expected to remain unchanged at 1.75% with the normal sluggish growth rhetoric expected in the following monetary statement.

Exchange Rates

Current Level: 0.5886 (1.6990)

Resistance: 0.5913 (1.7170)

Support: 0.5825 (1.6911)

Last Week’s Range: 0.5824 – 0.5893 (1.6969-1.7171)

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The EURO (EUR) fell to a low of 0.5820 (1.7170) midweek against the New Zealand Dollar (NZD), but the kiwi has since recovered on EUR weakness travelling through to 0.5882 (1.7000). The EU economy slowed in the first quarter of 2018 with economic growth figures at 0.4% compared to 0.7% for the last quarter of 2017. Growth in the bloc reached 2.5% year on year. Yearly CPI figures released down on expectation of 1.3% coming in at 1.2% sending the EUR in to spin. Buyers of EUR should consider current levels above 0.5800

Exchange Rates

The current interbank midrate is:NZDEUR 0.5876   EURNZD 1.7017

The interbank range this week has been:NZDEUR 0.5821 – 0.5880   EURNZD 1.7006 – 1.7180

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The New Zealand Dollar (NZD) found some strength after weeks of declines against the EURO (EUR). Reversing off the low at 0.5800 (1.7250) it bounced sharply back above 0.5830 closing the week in positive territory at 0.5850 (1.7100). The Central Bank (ECB) left rates unchanged last week and Draghi hinted of a slow road to recovery for the Eurozone. German yearly CPI will be the key for the EUR to pair holding above 0.5800 (1.7250) in the coming days.

Exchange Rates

Current Level: 0.5825 (1.7167)

Resistance: 0.5850 (1.7250)

Support: 0.5800 (1.7100)

Last Week’s Range: 0.5795 – 0.5850 (1.7093 – 1.7256)

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After seeing relentless declines over much of the past 2 weeks, the NZDEUR has shown some strength overnight breaking above minor resistance around 0.5830. The move has come on the back of Euro (EUR) weakness in the wake of the ECB’s rate meeting last night. The Central bank left rates unchanged and acknowledged that data is pointing to a moderation in growth. That’s undermined some support for the EUR and it should continue to weigh on it mildly over the coming days. We may well now have seen the low for this move, which was made last night at 0.5795 (high of 1.7256), and a period of consolidation / correction looks likely to develop.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5831   EURNZD 1.7151

The interbank range this week has been:NZDEUR 0.5795 – 0.5889   EURNZD 1.6980 – 1.7256

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We have seen a relentless march lower for this cross rate as the New Zealand dollar (NZD) has underperformed the Euro (EURO) in the face of broad based USD strength. Initial support is now not far away, around 0.5830, and that may contain the pair in the very near term. Any break below there however would open the way for deeper declines toward the December 2017 low of 0.5722. The main focus for the week will be on the ECB’s interest rate decision on Thursday.

Exchange Rates

Current Level: 0.5858 (1.7071)

Resistance: 0.6000 (1.7153)

Support: 0.5830 (1.6667)

Last Week’s Range: 0.5853 – 0.5952 (1.6802 – 1.7084)

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The EURO (EUR) has rallied to 0.5876 (1.7016) against the New Zealand Dollar (NZD) reversing last week’s gains from the previous high of 0.6000 (1.6670). Clearly the pair is not ready to travel back into the 0.60’s and retest the high of January 2018- 0.6055 which is surprising. Earlier in the week the German Economic sentiment report dragged down the EUR for a short period after investor confidence dropped in the Eurozone. We see the solid support line of 0.5840 (1.7130) in jeopardy of being broken with developing EUR momentum.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5873   EURNZD 1.7028

The interbank range this week has been:NZDEUR 0.5868 – 0.5997   EURNZD 1.6675 – 1.7040

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The NZDEUR has reversed last week’s gains rebounding off the high of 0.6000 (1.6670) Friday to close at 0.5966 (1.6760). Monday saw further support for the Euro (EUR) as the cross retreated lower to 0.5930 (1.6860). Tonight we have German economic sentiment and another Global Dairy Auction (GDT) Wednesday. Given the bounce off key physiological resistance of 0.6000 we could see further weakness in the kiwi, levels here around 0.5950 offer good buying.

Exchange Rates

Current Level: 0.5940 (1.6835)

Resistance: 0.6000 (1.7155

Support:0.5830 (1.6680)

Last Week’s Range: 0.5931 – 0.5997 (1.6675 – 1.6860)

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The EURO (EUR) has continued to lose ground against the surging New Zealand Dollar (NZD), pushing to a new high of 0.5990 (1.6700) as markets increased their appetite for taking on risk currencies. Draghi dragged the EUR lower Thursday with his dovish comments around inflation targets as the pair traded through prior resistance at 0.5970 (1.6740) The next target is 0.6060 (1.6500) if next week’s quarterly NZ GDP figures are favourable.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5980   EURNZD 1.6722

The interbank range this week has been:NZDEUR 0.5914- 0.5990   EURNZD 1.6694- 1.691

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The EURO (EUR) has lost ground breaking from its sideways tone against the New Zealand Dollar (NZD) trading higher over the week to 0.5945 (1.6820) in risk averse market conditions. Earlier the German Retails Sales printed worse than expected offering further support for the kiwi with EURO CPI surprising to the downside with 1.4% headline inflation.  With the 9th January low of 0.6000 inching closer we may see further upside movement.

Exchange Rates

Current Level: 0.5950 (1.6806)

Resistance: 0.6045 (1.7160)

Support: 0.5827 (1.6540)

Last Week’s Range:0.6864-0.6962 (1.6773-1.0823)

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The EURO (EUR) has lost ground and  broken from its sideways tone against the New Zealand Dollar (NZD) trading higher over the week to 0.5945 (1.6820) in risk averse market conditions. Earlier the German Retails Sales printed worse than expected offering further support for the kiwi with EURO CPI surprising to the downside with 1.4% headline inflation.  With the 9th January low of 0.6000 inching closer we may see further upside movement.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5924   EURNZD 0.1.6880

The interbank range this week has been:NZDEUR 0.5851- 5962   EURNZD 1.6773- 1.7092

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The EURO (EUR) traded mainly sideways against the New Zealand Dollar (NZD) over the week but dropped to a low of 0.5835 (1.7135) in pre-Easter markets before pushing back to consolidate around the 0.5885 (1.7000) mark. The EUR has opened well, the NZD is on the back foot with equities falling away and dropping investor confidence with it. This week will be driven by offshore markets and US data with only a small amount of data to publish- German Retail Sales and EURO CPI. The bearish trend is still in place as we see a reasonable probability this week the pair may test 0.5820 (1.7200)

Exchange Rates

Current Level: 0.5858 (1.7070)

Resistance: 0.5883 (1.7160)

Support: 0.582 (1.7000)

Last Week’s Range:0.5836 – 0.5882 (1.7001 – 1.7140)

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The EURO (EUR) made small gains over the New Zealand Dollar (NZD). The pair was choppy in volatile markets with plenty of data shifting prices in the pair. Trading off its high of 0.6150 (1.69700), NZ monthly Trade Balance gave the kiwi momentum, showing a surplus of 217M recorded for February. Exports rose 446M, 11% to 4.5B compared to the previous February of 4.2B. These figures were largely inaccurate based on 8,000 cars being turned away from NZ ports after a “stink Bug” infestation. The elusive 0.6000 will need to wait a while longer with strong support amongst buyers for EUR. The near term momentum looks to possibly test 0.5750 (1.7400)

Exchange Rates

Current Level: 0.5120 (1.9531)

Resistance: 0.5984 (1.7430)

Support: 0.5737 (1.6710)

Last Week’s Range:0.5826 – 0.5890 (1.6978 – 1.7163)

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The EURO (EUR) continued to push the NZD lower over the week trading to 0.5858 (1.7070). The New Zealand Dollar made up ground during the RBNZ Cash Rate announcement as the benchmark cash rate was left unchanged at 1.5% pushing higher to 0.5880 (1.7000). We still see the pair going lower based on further support of the EUR, the next target is 0.5750 (1.7400) if it squeezes lower past 0.5835 (1.7140) key support.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5857   EURNZD 1.7070

The interbank range this week has been:NZDEUR 0.5826- 0.5901    EURNZD 1.6946- 1.7163

View NZDEUR charts

The New Zealand Dollar (NZD) continued its bearish theme from last week into this week slipping through 0.5865 (1.7050) against the EURO (EUR) during early week trading. We see little on the EURO calendar this week to make much difference to prices – just German and French Manufacturing to perhaps give the EUR further energy to make a push back to 0.5750 (1.7400) the 24 November high. RBNZ cash rate announces this Thursday; we expect a dovish monetary statement which could weaken the NZD further. Any EUR buyers who may be waiting for 0.6000 the figure may be holding a while.

Exchange Rates

Current Level:0.5865 (1.7050)

Resistance: 0.6035 (1.7400)

Support: 0.5747 (1.6570)

Last Week’s Range: 0.5860 – 0.5947 (1.6816 – 1.7064)

 

 

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The New Zealand Dollar (NZD) continues in a sideways manner consolidating the gains made over the EURO (EUR)  last week as it trades around 0.5920 (1.6900) area. NZ GDP printed at 0.6% slightly worse than expected pushing EUR to 0.5900 (1.6950) support. NZ Business Manufacturing printed benign at 53.4 Friday local time keeping the NZD/EUR constant around 0.5920 (1.6900). RBNZ cash rate announcement next week with a bundle of German manufacturing data to publish. We are expecting further downside to the kiwi as the lower support band of 0.5900 (1.6950) could be re-tested.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5898   EURNZD 1.6958

The interbank range this week has been:NZDEUR 0.5894 – 0.5947   EURNZD 1.6816 – 1.6967

 

 

 

View NZDEUR charts

The New Zealand Dollar closed the week in a positive mood against the EURO (EUR) pushing through to 0.5940 (1.6838) during a risk on market late during the NY session Friday. The EUR has made gains against the New Zealand Dollar (NZD) during light trading Monday pushing lower to 0.5913 (1.6912). A quiet week for data publications with only Draghi speaking on Wednesday and NZ quarterly GDP Thursday. We expect further swings over the week in the pair possibly back to last week low of 0.5860 (1.7070) if further volatility continues.

Exchange Rates

Current Level: 0.5920  (1.6892)

Resistance:0.5980 (1.7120)

Support: 0.5837 (1.6722)

Last Week’s Range:0.5838 – 0.5943 (1.6827 – 1.7129)

 

 

View NZDEUR charts

The New Zealand Dollar (NZD) was volatile against the EURO (EUR) Thursday after the ECB press conference, coming off its low of (0.5840) 1.7126 to bounce all the way to 0.5900 (1.6950). Draghi highlighted that the immediate impact on Trump’s proposed tariffs on steel and aluminum would be small but could have a larger impact down the track if other counties retaliated, starting what could turn into international trade wars where ultimately there would be no winners. Support seen at 0.5966 the previous high of 21 Feb post this level the New Zealand Dollar will be eyeing the crucial 0.6000 area, although we have a lot of water to flow for this to eventuate.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5895   EURNZD 1.6964

The interbank range this week has been:NZDEUR 0.5838 – 0.5931   EURNZD 1.6860 – 1.7129

 

 

View NZDEUR charts

The New Zealand Dollar (NZD) has traded lower against the EURO (EUR) in previous days. Dipping below the weeks open, the pair trades at 0.5680 amid EURO elections uncertainty. It may take weeks to formally from an Italian Government with a potential new coalition between the Five Star Movement and the Northern League. The main even in the Eurozone this week will be the ECB meeting where the central bank is expected to leave the interest rate unchanged. The New Zealand Dollar remains under the pump against the EUR with no significant local data to be released except Global Dairy Trade auction. Offshore Eurozone news will therefore drive the pair, the 0.5740 (1.7420) low of November 2017 looks to be a feasible target in the short term.

Exchange Rates

Current Level: 0.5855 (1.7079)

Resistance: 0.5900  (1.7400)

Support:0.5747 (1.6950)

Last Week’s Range:0.5850 -0.5943 (1.6826 – 1.7093)

 

View NZDEUR charts

The New Zealand Dollar (NZD) and the EURO (EUR) remain in a sideways battle since December 2018. EUR having the edge over the New Zealand Dollar (NZD) recently trading to 0.5950 (1.6810), it remains in a bearish decline from 0.6868 (1.4560) high. The European Central Bank (ECB) release its scheduled interest rate meeting next week, no excitement is expected with the decision largely priced into markets expectations already. Following this ECB Press Conference will no doubt offer optimism in the EU going forward.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5917   EURNZD 1.6899

The interbank range this week has been:NZDEUR 0.5897 – 0.5958   EURNZD 1.6785 – 1.6958

 

View NZDEUR charts

The New Zealand Dollar (NZD) strengthened against the Euro (EUR) Monday after ECB president Draghi spoke. He is reluctant to change his stance on monetary policy even though stronger inflation numbers are expected, he will revisit the current stance in March to establish a more reliable picture going forward. The NZD/EUR still trades in a long term bearish trend from the high of 0.6422 (1.5570) the pair is trading around the (0.5940) 1.6830 currently and looks set to continue possibly through to the previous low of 0.5714 1.7500). Buyers of EUR should consider current levels as the ECB looks to possibly finish its monetary stimulus by the end of 2018.

Exchange Rates

Current Level: 0.5915 (1.6906)

Resistance: 0.5972 (1.7000)

Support: 0.5882 (1.6745)

Last Week’s Range:0.5914 – 0.5976 (1.6735 -1.6909)

View NZDEUR charts

The New Zealand Dollar (NZD) remains flat this week with possibly a slight edge over the Euro (EUR) based on weaker than expected PMI and Manufacturing data. Trading closer to the upper band of the current range of 0.593 (1.67700) the kiwi looks to eye resistance of 0.6000 if we see further weakness in the EURFriday’s ECB Policy Minutes will govern further direction.

 

Exchange Rates

The current interbank midrate is:NZDEUR 0.5954   EURNZD 1.6795

The interbank range this week has been:NZDEUR 0.5935 – 0.5976   EURNZD 1.6735 – 1.6850

View NZDEUR charts

The New Zealand Dollar (NZD) pushed slightly higher over the EURO (EUR) during the week posting a small gain of 22 points as the EUR lost ground Friday in a risk on market to trade at 0.5956 (1.6790). Markets look towards Wednesdays German Manufacturing figures for further direction. Resistance for the pair looks to be 0.6000 the figure if further upside eventuates.

Exchange Rates

Current Level: 0.5936 (1.6846)

Resistance:0.5963 (1.6863)

Support: 0.5930 (1.6780)

Last Week’s Range: 0.5883 – 0.5963 (1.6771 – 1.6999)

View NZDEUR charts

The New Zealand Dollar (NZD) has made small losses on the EURO over the last few days and remains bearish from the high of 0.6050 (1.6530) 11 January 2018 through to currently trade at 0.5918 (1.6900). On the weekly chart the EUR looks venerable as it hangs in the balance of breaking the medium term trend to the upside with 0.6153 (1.6250) resistance the next line of defense if the fortuitous New Zealand economy keeping improving at current pace.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5913   EURNZD 1.6912

The interbank range this week has been:NZDEUR 0.5883 – 0.5933   EURNZD 1.6854 – 1.6999

View NZDEUR charts

The NZD/EUR volatility continued over the week with little overall direction. The New Zealand dollar (NZD) closed the week against the Euro (EUR) at 0.5927, and currently trades around 0.5905. The long term bearish trend is still in place from the high of 0.6856 (1.4585) on 5th February 2017. Near term strength is currently limited to resistance around 0.5970 (1.6940), while support comes in on the downside around 0.5720.

Exchange Rates

NZDEUR 

Curren Level: 0.5903

Support: 0.5720

Resistance: 0.5970

Last Week’s Range: 0.5854 – 0.5936

EURNZD

Current Level: 1.6939

Support: 1.7483

Resistance: 1.6750

Last Week’s Range: 1.6846 – 1.7083

 

View NZDEUR charts

The NZD/EUR has traded near 0.5850 (1.7200) support this week with the New Zealand dollar (NZD) falling away after the RBNZ held rates on hold Thursday. Trading around the 0.5882 (1.7000) level currently with an overall lack of direction, we have seen large movements over the past few days with volatile market creating bouncy markets for NZD cross currencies. Trading as high of 0.5940 (1.6840) early week uncertainty in the NZD/EUR remains.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5898   EURNZD 1.6954

The interbank range this week has been:NZDEUR 0.5848 – 0.5936   EURNZD 1.6846 – 1.7100

 

View NZDEUR charts

The New Zealand dollar (NZD) is slowly weakening against the Euro (EUR), now at 0.5850 after a high last week around 0.5960. Solid Eurozone retail sales and service PMI data may help the EUR on this cross tonight, but we expect trading to remain within current ranges ahead of the RBNZ on Thursday.

Exchange Rates

NZDEUR

Current Level: 0.5859

Support: 0.5720

Resistance: 0.5950

Last Week’s Range: 0.5848 – 0.5943

EURNZD

Current Level: 1.7067

Support: 1.6806

Resistance:  1.7482

Last Week’s Range: 1.6825 – 1.7100

 

View NZDEUR charts

After an overnight high of 0.5960 the New Zealand dollar (NZD) is now back around 0.5940 against the Euro (EUR) trading within established ranges. The NZD continues to hold well on this cross in the face of continually improving Eurozone data. It should hold around current levels to end the week heading into more data from NZ next week, which if soften may hasten lower more realistic levels for the NZD on this cross.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5930   EURNZD 1.6864

The interbank range this week has been:NZDEUR 0.5878 – 0.5944   EURNZD 1.6825 – 1.7011

 

View NZDEUR charts

The New Zealand dollar (NZD) opens the week around the 0.5920 level on this cross gaining on relative Euro (EUR) weakness over the last two days. More data is to come for the EUR this week and any uptick in Eurozone  inflation over expectations on Wednesday, would place pressure on the NZD and prompt a move back to the 0.5880 level on this cross.

Exchange Rates

NZDEUR

Current Level: 0.5922

Support: 0.5880

Resistance: 0.6080

Last Week’s Range: 0.5878 – 0.6007

EURNZD

Current Level: 1.6886

Support: 1.6447

Resistance: 1.7006

Last Week’s Range: 1.6447 – 1. 7011

 

View NZDEUR charts

Solid performance by the Euro (EUR) has seen the New Zealand dollar (NZD) pressured further on this cross, not helped by yesterday’s unexpectedly lower CPI data. Yesterday this cross dropped from 0.6008 to 0.5914 on the data release but opens this morning lower again at 0.5906. Immediate support is at 0.5880 which if broken would target the 0.5860 level, likely next week.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5905   EURNZD 1.6936

The interbank range this week has been:NZDEUR 0.5878 – 0.6007   EURNZD 1.6647 – 1.7011

 

View NZDEUR charts

The New Zealand dollar (NZD) has weakened against the Euro (EUR), now down at 0.5977 as expectations increase for more hawkish tone from the ECB on Thursday, immediate support is at 0.5950 a break of which would target 0.5930. Any finite outcome for the German government would further strengthen the EUR but this is unlikely over the next few days. Thursdays ECB meeting will be the key, expect current ranges to hold ahead of this event.

Exchange Rates

NZD/EUR

Current Level: 0.5967

Support: 0.5880

Resistance: 0.6080

Last Week’s Range: 0.5905 – 0.5981

EUR/NZD

Current Level: 1.6758

Support: 1.6447

Resistance: 1.7006

Last Week’s Range: 1.6720 – 1.6935

View NZDEUR charts

This cross continues to remain steady, currently around 0.5958. Although the NZD remains overextended against the USD, there are also doubts around the EUR as the German coalition deal has yet to be agreed and there is a SPD party meeting this weekend. If it’s negative to forming a government with Merkel, this will give the EUR a case of the jitters. Overall we expect levels to remain in the existing range into next week.

Exchange Rates

The current interbank midrate is:NZDEUR 0.5954   EURNZD 1.6795

The interbank range this week has been:NZDEUR 0.5905 – 0.6027   EURNZD 1.6592 – 1.6935

View NZDEUR charts

With both the EUR and NZD making gains on the USD, this cross has remained relatively stable over the last few days. Now at 0.5950 the New Zealand dollar (NZD) has dropped from the 0.6052 high seen last Thursday, which was the highest level since mid-October. Although the Euro (EUR) looks overextended against the USD, so is the NZD and we look for a push towards the 0.5900 level on this cross over the next few days, especially as the more hawkish interest rate stance from the ECB continues.

Exchange Rates

NZD/EUR

Current Level: 0.5948

Support: 0.5880

Resistance: 0.6080

Last Week’s Range: 0.5931 – 0.6052

EUR/NZD

Current Level: 1.6812

Support: 1.6447

Resistance: 1.7006

Last Week’s Range: 1.6523 – 1.6860

View NZDEUR charts

The New Zealand dollar (NZD) strengthened against the Euro (EUR) over the last few days, making a high of 0.6054, the highest level since mid-October 2017. However it has backed off after the more hawkish than expected ECB minutes and is now trading back at 0.6027. With the ECB now signalling the potential end to stimulus, we may have seen the high for the NZD on this cross.

Exchange Rates

The current interbank midrate is:NZDEUR 0.6020   EURNZD 1.6611

The interbank range this week has been:NZDEUR 0.5921 – 0.6052   EURNZD 1.6523 – 1.6890

View NZDEUR charts

The New Zealand dollar (NZD) has strengthened to 0.6004 vs the Euro (EUR) overnight, the highest level for 2 months, after the EUR came under selling pressure against all its major partners. The NZD is now only marginally lower, at the 0.5998 level. The continued NZD strength is hard to rationalise, but with resistance at 0.5970 broken further upside is possible with initial resistance at 0.6020.

Exchange Rates

NZDEUR

Current Level: 0.5997

Support: 0.5820

Resistance: 0.6020

Last Week’s Range: 0.5874 – 0.6006

EURNZD

Current Level: 1.6675

Support: 1.6611

Resistance: 1.7182

Last Week’s Range: 1.6651 – 1.7026

View NZDEUR charts

The Euro (EUR) outperformed the New Zealand dollar (NZD) for much of this week, driving the cross rate to a low of 0.5874 (1.7026) on Wednesday. Since then however we have seen a sharp turn around with the NZD making across the board gains, particularly in the past 24 hours. With little in the way of news flow from NZ it’s hard to justify the move, but for whatever reason the market seems intent on buying New Zealand dollars for now. The next key level to watch is resistance around the 0.5970 (1.6750) area. Any break above there would be a bullish signal.

Exchange Rates

The current interbank midrate is: NZDEUR 0.5927   EURNZD 1.6872

The interbank range this week has been: NZDEUR 0.5874 – 0.5948   EURNZD 1.6813 – 1.7026

View NZDEUR charts

The NZD/EUR is now around 0.5947 after a push higher yesterday from 0.5932 to 0.5973 and has been strengthening over the last week or so. While Eurozone data continues to be solid the lack of rate increase talk from the ECB hamstrings Euro bulls. If tomorrows NZ data is solid look for a move back into the 0.6000 region.

Exchange Rates

NZDEUR

Current Level: 0.5948

Support: 0.5820

Resistance: 0.6020

Last Week’s Range: 0.5875 – 0.5971

EURNZD

Current Level: 1.6813

Support: 1.6611

Resistance: 1.7182

Last Week’s Range: 1.6746 – 1.7022

View NZDEUR charts

The New Zealand dollar (NZD) has also held onto gains against the Euro (EUR) made over the week. After the weeks high of 0.5953, the NZD is now back at 0.5927 but given the ECB comments last night keeping rates on hold with no change to its QE stimulatory policy we look for the NZD to hold around the 0.5885-0.5950 region over the next week. While any softer data may prevent the NZD forging much higher, the more benign interest rate outlook for the Eurozone should help maintain NZD support on this cross.

Exchange Rates

The current interbank midrate is: NZDEUR 0.5929   EURNZD 1.6866

The interbank range this week has been: NZDEUR 0.5796 – 0.5952   EURNZD 1.6801 – 1.7254

View NZDEUR charts

After opening the week yesterday at 0.5808 the New Zealand dollar (NZD) bounced hard against the Euro (EUR) to 0.5866 on the news release of the new RBNZ Governor. The next stop looks to be resistance at 0.5918, however ahead of tonight’s Fed meeting this level looks a little extended. Fundamentals are turning to favour the EUR on this cross, especially if there is stronger talk around growth and stimulus reduction at Thursdays ECB meeting. It looks as if this move higher in the NZD/EUR would benefit importers investors to take advantage of an against the trend rally.

Exchange Rates

NZDEUR

Current Level: 0.5869

Support: 0.5720     

Resistance: 0.5880

Last week’s range: 0.5777 – 0.5879

EURNZD

Current Level: 1.7038

Support: 1.7006   

Resistance: 1.7482

Last week’s range: 1.7011 – 1.7309

View NZDEUR charts

Currently around 0.5804 with no clear direction but the drift has been lower over the week… the US jobs data will affect this cross but the NZD looks vulnerable on this cross …look for a push into the 0.5770/95 level next week.

Exchange Rates

Support: 0.5720 (1.7482)      

Resistance: 0.5880(1.7006)

View NZDEUR charts

The New Zealand dollar (NZD) has firmed against the Euro (EUR) over the week from a start down at 0.5773. This has come as the EUR has been buffeted by the uncertain German political situation, however Eurozone fundamentals remain on the improve and with the NZD/EUR now at 0.5814 on this cross it remains in existing ranges.

Exchange Rates

The current interbank midrate is: NZDEUR 0.5817     EURNZD 1.7195

The interbank range this week has been: NZDEUR 0.5744-0.5834     EURNZD 1.7141-1.7409

View NZDEUR charts

The New Zealand dollar (NZD) is back over 0.5800 (just) at 0.5802 against the Euro (EUR). The uncertainty around the German government has knocked the EUR on this cross and this may get worse, but NZD/EUR needs to break 0.5844 to start back on a more bullish trend. That’s hard to see in the short term unless tonight’s dairy auction prices are very firm.

Exchange Rates: 

NZD/EUR

Current Level: 0.5796

Support: 0.5550

Resistance: 0.5820

Last week’s range: 0.5744 – 0.5917

EUR/NZD

Current Level: 1.7252

Support: 1.8018

Resistance: 1.7182

Last week’s range: 1.6900 – 1.7409

View NZDEUR charts

This cross has been relatively stable over the week, but New Zealand dollar (NZD) underperformance has seen the NZD drift lower. It is now at 0.5820 against the Euro (EUR) and looks to be forming a base as German political issues are not EUR supportive in the short term. Technical support at 0.5800 should hold going into next week.

Exchange Rates: 

The current interbank midrate is: NZDEUR 0.5822     EURNZD 1.7173

The interbank range this week has been: NZDEUR 0.5810 – 5966     EURNZD 1.6762 – 1.7213

View NZDEUR charts

The NZD/EUR is now around 0.5892 after the better Eurozone data. Immediate support at 0.5880 should hold over the next few days. A break of 0.5880 would target 0.8562. Offshore EUR/USD moves will drive this cross. Any spikes over 0.6000 should be taken to transfer New Zealand dollars (NZD) to Euro (EUR).

Exchange Rates: 

Current Level Support Resistance Last week’s range
NZD/EURO 0.5884 0.5800 0.6020 0.5879 – 0.6013
EURO/NZD 1.6995 1.6611 1.7241 1.6631 – 1.7009

View NZDEUR charts

Choppy trading on the NZD/EUR cross with a 0.5921-0.6016 range and now around 0.5965 after better inflation news out of the Eurozone overnight. We expect consolidation around current levels as we head into next week. The downside support at 0.5880 should hold over the next few days. On the topside there is strong resistance between 0.6000 and 0.6030 and the pair should struggle on any attempts into that area. Clients looking to transfer New Zealand dollars (NZD) to Euro (EUR) should take advantage of any spikes over 0.6000.

Exchange Rates: 

The current interbank midrate is: NZDEUR 0.5968      EURNZD 1.6757

The interbank range this week has been: NZDEUR 0.5921 – 0.6013      EURNZD 1.6631 – 1.6890

View NZDEUR charts

The New Zealand dollar is stronger on this cross, now at 0.5984 and with the Euro looking a little lethargic. We favour a test of upside around the 0.6000 level over the next day or so. There is some key resistance between 0.6000 and 0.6030 and that area will provide a tough initial barrier. A break above there would be a bullish signal, but we don’t expect that to happen ahead of Thursday’s RBNZ interest rate meeting.

Current Level Support Resistance Last week’s range
NZD/EURO 0.5978 0.5800 0.6020 0.5862 – 0.5987
EURO/NZD 1.6728 1.6611 1.7241 1.6704 – 1.7059

View NZDEUR charts

The New Zealand dollar is holding steady on this cross at 0.5935 trading sideways, given the pressure on the Euro we look for the NZD/EUR to move toward the .5975 level over the next few days. Click here to access NZD/EUR currency chart.

Exchange Rates:

The current interbank midrate is: NZDEUR 0.5933 EURNZD 1.6856

 

The interbank range this week has been: NZDEUR 0.5862 – 0.5953 EURNZD 1.6798 – 1.7059

View NZDEUR charts

The New Zealand dollar has held against the Euro, now at 0.5887 although back from the 0.5924 seen yesterday. Fairly directionless at the moment but a break of 0.5860 would open the way to 0.5810, close to the year’s low, so a good level to switch EUR to NZD.

Current Level Support Resistance Last week’s range
NZD/EURO 0.5887 0.5800 0.6020 0.5810 – 0.5936
EURO/NZD 0.58121.6987 1.6611 1.7241 1.6847 – 1.7210

View NZDEUR charts

The New Zealand dollar continued to decline against the Euro for much of this week, only reversing last night in the wake of the European Central Bank’s interest rate meeting. The ECB came across more dovish than expected, and that immediately put pressure on the EUR. This helped the cross rate recover sharply off its 0.5810 low to now trade around 0.5870. It’s starting to look like a significant low may now have been put in place at 0.5810 and that would argue that a broader correction higher, and back up over 0.5900, could unfold over the coming week. Those who are looking to convert EUR to NZD should take advantage of the current level, or any near term dips we may see.

Exchange Rates:

The current interbank midrate is: NZDEUR 0.5870 EURNZD 1.7036

 

The interbank range this week has been: NZDEUR 0.5810 – 0.5953 EURNZD 1.6798 – 1.7210

View NZDEUR charts

The EUR rally looks done as markets reassess how the Spanish Catalan referendum will play out and just how negative it will be for the EUR. Now at 0.6130 the NZD on this cross looks favoured and we look for a push on to the 0.6150/70 level especially if dairy auction results are positive. However political uncertainty will keep some check on the NZD.

Current Level Support Resistance Last week’s range
NZD/EURO 0.6130 0.5930 0.6170 0.6100 – 0.6151
EURO/NZD 1.6314 1.6207 1.6863 1.6259 – 1.6394

View NZDEUR charts

Now at 0.6124 as the New Zealand dollar marks time vs the Euro. Election worries affect both parties on this cross but overall we look for the NZD to grind higher towards 0.6150 early next week.

Exchange Rates:

The current interbank midrate is:    NZDEUR 0.6122    EURNZD 1.6336

The interbank range this week has been:    NZDEUR 0.6079 – 0.6165    EURNZD 1.6220 – 1.6451

View NZDEUR charts

The NZD is now at 0.6110 vs the Euro and has continued to slowly drift higher. With some Eurozone data starting to look flat the NZD may have further to go on this cross. Immediate resistance is at 0.6140.

Current Level Support Resistance Last week’s range
NZD/EURO 0.6106 0.5930 0.6170 0.6066 – 0.6190
EURO/NZD 1.6377 1.6207 1.6863 1.6155 – 1.6486

View NZDEUR charts

Now trading around 0.6100 buoyed by better New Zealand dollar performance overnight, election issues aside, we still favour the NZD on this cross as the ECB continues to hold off on stimulus reduction.

The current interbank midrate is:    NZDEUR 0.6096    EURNZD 1.6405

The interbank range this week has been:    NZDEUR 0.6066 – 0.6190    EURNZD 1.6155 – 1.6486

View NZDEUR charts

Now at 0.6064 with the New Zealand dollar is looking a bit tied and flat vs the Euro. There is still no clear direction, but with ECB talking now stimulus reduction pressure looks to the downside. 

The current interbank midrate is:    NZDEUR 0.6067    EURNZD 1.6482

The interbank range this week has been:    NZDEUR 0.6015 – 0.6122    EURNZD 1.6334 – 1.6624.

View NZDEUR charts

This pair now trades at 0.6062 with the New Zealand dollar higher after comments from the ECB officials sounding a warning over EUR strength. NZD now has potential to push higher towards 0.6100 in the short term as the EUR moderates further.

Current Level Support Resistance Last week’s range
NZD/EURO 0.6045 0.5930 0.6150 0.5992 – 0.6092
EURO/NZD 1.6542 1.6260 1.6863 1.6414 – 1.6688

View NZDEUR charts

Choppy trading on this cross, with the New Zealand dollar now at 0.6040 after bouncing around in a 0.5993-0.6094 range vs the Euro over the week. Election jitters are likely to push the NZD lower on this cross…look for another visit to the 0.6000 region next week.

The current interbank midrate is:    NZDEUR 0.6645    EURNZD 1.5049

The interbank range this week has been:    NZDEUR 0.5992 – 0.6092    EURNZD 1.6414 – 1.6688

View NZDEUR charts

The firmer Euro has hit the this cross with the New Zealand dollar at a low 0.5998 on Friday, now back at 0.6020 but look for another probe to the 0.6000 mark and has the potential to move lower to the 0.5970 region.

Current Level Support Resistance Last week’s range
NZD/EURO 0.6020 0.5930 0.6100 0.6010 – 0.6076
EURO/NZD 1.6613 1.6393 1.6863 1.6458 – 1.6640

View NZDEUR charts

The New Zealand dollar has weakened back to the 0.6032 level vs the Euro and has been as low as 0.6010 earlier in the week. Given the underlying EUR strength we favour a move to 0.6000 next week with potential to extend into the 0.5970 region.
The current interbank midrate is:    NZDEUR 0.6025    EURNZD 1.6597

The interbank range this week has been:    NZDEUR 0.6010 – 0.6128    EURNZD 1.6318 – 1.6640

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The New Zealand dollar has been knocked back against the Euro after the Draghi speech last Friday. It is now at 0.6050 up from a 15 month low at 0.6030 earlier today. It looks steady for the moment but with further upside for the EUR against the USD, look for this cross to test 0.6000 immediate support later in the week. The trend is to the downside and so far there is no signal to the contrary.

Current Level Support Resistance Last week’s range
NZD/EURO 0.6034 0.5930 0.6170 0.6030 – 0.6207
EURO/NZD 1.6572 1.6207 1.6863 1.6110 – 1.6584

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The New Zealand dollar is now trading at 0.6118 vs the Euro. The pair has been knocked around by combination of a firmer EUR and weaker NZD this week. A hawkish tone from ECB head Draghi tonight may see the EUR push higher but we are already trading around 14 month highs.
The current interbank midrate is:    NZDEUR 0.6116    EURNZD 1.6351

The interbank range this week has been:    NZDEUR 0.6096 – 0.6242    EURNZD 1.7525 – 1.7793

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The New Zealand dollar still holds above 0.6200 EUR, now at 0.6204 but any comments from ECB president Draghi at Jackson Hole may pressure the NZD. Ahead of that, over the next 3 days should hold at current levels 0.6235 should cap upside.

Current Level Support Resistance Last week’s range
NZD/EURO 0.6200 0.6160 0.5755 0.6156 – 0.6250
EURO/NZD 1.6130 1.7377 1.7762 1.6000 – 1.6245

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The New Zealand dollar has rallied over the Euro 0.6200 level after the more dovish ECB comments overnight. It is now at 0.6213 and should push on to retest 0.6257 next week.
The current interbank midrate is:    NZDEUR 0.6209    EURNZD 1.6106

The interbank range this week has been:    NZDEUR 0.6156 – 0.6250    EURNZD 1.6000 – 1.6245

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The New Zealand dollar opens the week marginally firmer on the Euro as risk-off sentiment increases. Now at 0.6194 with immediate resistance at 0.6205 it is EU data dependent currently and could see a move back to the 0.6160/70 level over the next few days.

Current Level Support Resistance Last week’s range
NZD/EURO 0.6200 0.6160 0.6210 0.6163 – 0.6263
EURO/NZD 1.6128 1.6103 1.6233 1.5966 – 1.6227

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The New Zealand dollar opens the week softer against the Euro at 0.6228 after a high of 0.6407 yesterday. The NZD remains vulnerable on this cross and we look for a test of 0.6210 over the next few days.

Current Level Support Resistance Last week’s range
NZD/EURO 0.6225 0.6210 0.6430 0.6226 – 0.6357
EURO/NZD 1.6064 1.5552 1.6103 1.5732 – 1.6061

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The Euro has continued to gain ground against the New Zealand dollar on this cross. It is now at 0.6260 after 0.6365 high on Tuesday. The last couple of days have seen consolidation around current levels as softer Eurozone data holds EUR gains, however we look for 0.6200 to be tested next week as EUR strength resumes on this cross. If we do see weakness toward the 0.6200 in the coming days it would provide a good opportunity for those looking to convert EUR to NZD.
The current interbank midrate is:    NZDEUR 0.6256    EURNZD 1.5984

The interbank range this week has been:    NZDEUR 0.6239 – 0.6410    EURNZD 1.5600 – 1.6028

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Like most other New Zealand dollar pairings, action in this cross over the past week has really been a by-product of volatility in the wider market. Broad based USD weakness has seen both the NZD and EUR make gains and it’s simply a case that the NZD outperformed during this period volatility. As such I expect that the gains we have seen in the past few days will slowly be unwound. That process looks to have started last night with the cross pulling back from the 0.6437 high to now trade around 0.6410. It could easily drift lower still to the 0.6380 area.
The current interbank midrate is:    NZDEUR 0.6412    EURNZD 1.5596

The interbank range this week has been:    NZDEUR 0.6353 – 0.6437    EURNZD 1.5534 – 1.5741

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We have seen mostly sideways price action for this pair over the past week. Both the New Zealand dollar and the Euro have seen periods of strength, and while this has caused some volatility in the cross rate, overall there has been no real direction. The market has been bouncing around the 0.6380 level (1.5674) and at this stage it’s hard to see what will break it out of the increasingly tight range. There is little of significance in terms of data releases from NZ this week, and while the European economic calendar looks a little more interesting, it’s still mostly second tier stuff. If the pair does decide to try and move, there is support down around 0.6210 and resistance up at 0.6430 (resistance 1.6103 and support 15552).

Current Level Support Resistance Last week’s range
NZD/EURO 0.6389 0.6210 0.6430 0.6319 – 0.6406
EURO/NZD 1.5651 1.5552 1.6103 1.5611 – 1.5826

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We have seen volatile price action in this paring over the past week, but overall direction has been somewhat lacking. The New Zealand dollar traded to a low of 0.6319 against the EUR in the wake of Tuesday’s soft NZ inflation data, but it bounced quickly and since then both currencies have seen periods of strength. This has meant the cross rate has chopped back and forth around the 0.6470 level with no real direction. If we had to favour one way or the other it would be the NZD downside, as the EUR may well outperform the local currency over the coming days thanks to Europe’s improving economic outlook.
The current interbank midrate is:    NZDEUR 0.6364    EURNZD 1.5712

The interbank range this week has been:    NZDEUR 0.6319 – 0.6430    EURNZD 1.5553 – 1.5826

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We have seen some volatile price action in this pairing over the past week or so. That is evidenced by the range of the past week of between 0.6290 and 0.6469. Those highs, set on Friday night, were short lived however and it looks like the risks are all now skewed to the downside, thanks in large part to this morning’s release of soft NZ inflation data. Another test of the 0.6290 low may well be on the cards in the next 24 hours. If tonight’s dairy auction also disappoints then key support around 0.6210 will likely be tested. Later in the week we have the ECB meeting to digest and that is only likely to add to the volatility.

Current Level Support Resistance Last week’s range
NZD/EURO 0.6338 0.6210 0.6450 0.6290 – 0.6469
EURO/NZD 1.5777 1.5504 1.6103 1.5458 – 1.5897

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After a very quiet start to the week the New Zealand dollar has seen some significant volatility vs the Euro in the past 48 hours. Support for the NZD seemed to disappear on Wednesday night and this helped push the pair down to its 0.6290 low. Last night however we saw a combination of EUR selling and NZD buying which drove a sharp recovery and pushed the pair up to the week’s high of 0.6469. It’s hard to point a finger at exactly what drove the move as there were not significant releases from either country. If the pair manages to break above resistance around 0.6470 then the next target will be 0.6580. I would expect the NZD to struggle as it approaches that level however.
The current interbank midrate is:    NZDEUR 0.6419    EURNZD 1.5578

The interbank range this week has been:    NZDEUR 0.6290 – 0.6496    EURNZD 1.5458 – 1.5897

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We favour the New Zealand dollar lower on this cross at some stage, but for the time being the pair remains very range bound. There are differing views with the ECB as to just when they should ease back on ultra easy monetary policy and such it’s hard to get too excited about Euro strength at the moment. We think an eventual decline will come from some broad based NZD weakness as it’s currently trading at somewhat elevated levels across the board. Until something triggers an NZD correction lower however the 0.6350 to 0.6450 (1.5748 to 1.5504) range will dominate.

Current Level Support Resistance Last week’s range
NZD/EURO 0.6364 0.6350 0.6450 0.6361 – 0.6434
EURO/NZD 1.5714 1.5504 1.5748 1.5541 – 1.5721

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Generally the New Zealand dollar has been flat vs the Euro , but last night’s ECB minutes saw the NZD back around 0.6361 , now at 0.6384 may try to push back over 0.6400 but still no clear trend.
The current interbank midrate is:    NZDEUR 0.6384    EURNZD 1.5665

The interbank range this week has been:    NZDEUR 0.6361 – 0.6434    EURNZD 1.5541 – 1.5720

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The NZD continues its weaker tone against the Euro from last week, now at 0.6402 with little clear direction. New Zealand fundamentals favour the NZD but any further ECB talk of higher rates will pressure the NZD on this cross.

Current Level Support Resistance Last week’s range
NZD/EURO 0.6400 0.6350 0.6470 0.6364 – 0.6554
EURO/NZD 1.5625 1.5520 1.5748 1.5257 – 1.5712