The New Zealand Dollar lost 0.00128 points or 0.18% to 0.71333 against the US Dollar Friday, falling from 32-month high hit in the previous session as heightened US-China tensions hit risk sentiment, following news that President Donald Trump is set to add around 80 more companies and their affiliates to the Commerce Department’s Entity List. Meantime, negotiators in Washington are still yet to agree on details of a $900 billion virus-relief bill, with Republican Senate Majority leader Mitch McConnell saying talks could spill into the weekend. In local data, business confidence added 16 points to 9.4%, the first positive reading since August 2017 amid the imminent prospect of travel bubbles, encouraging vaccine news, and continued support from both monetary and fiscal sides while inflation pressure continues to build. Finally, New Zealand's trade balance swung to a NZD 252 million surplus in November, as goods exports dropped 0.2 %, while imports fell 17%.
Historically, the New Zealand Dollar reached an all time high of 1.49 in October of 1973. New Zealand Dollar - data, forecasts, historical chart - was last updated on December of 2020.
The New Zealand Dollar is expected to trade at 0.71 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.70 in 12 months time.