With the downfall in the global economy, the New Zealand economy is facing a huge burnout, while today the NZD (New Zealand Dollar) has embarked One-month low against US dollar $ as economic growth has stirred market sentiments.
While in today’s Asian trading session, the currency pair has hit much lower than 0.6382 from the previous month, which is into severe downfall as it has subsequently consolidated downwards @0.6372, much lower than 0.65%
The currency pair “NZD/USD” is about to find a support at a level of 0.6345, as the low from last one month has found a resistance level at 0.6425. While in a certain case the markets get off a jittery as on the data that the annual slow growth rate in China.
While the data has indicated as one of the 2nd largest economy is about to lose the momentum as the currency value is very much depleting.
While the investors are so cautious that the prices of oil has been dropped much lower than $28 per barrel, lowest in this decade as it has summoned up the lowest level & oversupply of oil has decreased the prices of crude. While the KIWI has been much higher than Australian Dollar (AUD), the currency pair “AUD/NZD” has slightly edged more than 0.14% as in comparison with the previous number of 0.6374