Daily Management Review

NZ dollar posts record high against Australian dollars


04/05/2015




Australia may have won the Cricket World Cup beating New Zealand, but the Kiwis have bowled out Australia in the money market with a record high against the Australian dollar.

New Zealand dollar rose to record high against the Australian Dollar, thanks to the traders looked ahead to non-farm payrolls data in the US and an expected interest rate cut by the Reserve Bank of Australia after the Easter weekend.

The kiwi was trading at 98.51 Australian cents, the closest it has come to the stronger Australian dollar since a rallying in 1984 for 97.90 cents. The local currency traded at 74.62 US cent. The kiwi peaked high when Australia’s trade deficit widened for a third month in February, to A$1.26 billion.

While the markets in both Australia and New Zealand will be closed for the Easter break, the next working day of Tuesday will reveal how much of a cut Reserve Bank of Australia has made compared to New Zealand and this will in turn reflect on the upsurge of Kiwi.

The non-farm payrolls data in the US are expected to show the country adding 245,000 jobs last month which will also affect the trade of New Zealand as well as Australian dollars. In a reverse effect, Australian government bond futures tracked US Treasuries. The three-year contract climbed 4 ticks to 98.360, while the 10-year contract put on 2.5 ticks to 97.6900.

The gain for Kiwi could also be attributed to the fall in the price of dairy products to an average 10.8 percent in the latest GlobalDairyTrade auction, with many in the market anticipating an even weaker sale.
 
 
 






Science & Technology

Motorola’s New Patent Will Self-Heal A Cracked Smartphone Screen

Auto Parts Out Of Wood Is What Japan Is Looking At Making

Security Firm Claims Hotel Guests Across Europe Were Targeted By Russia-Linked Hackers

World’s First Genetically-Modified Animal To Enter Food Supply Is Salmon

In The Future, UBS Analyst Says, Multiple Planes Could Be Operated From The Ground By Today’s Pilots

Will Germany save diesel?

How China became a pioneer of the solar industry

CNBC: Intel leaves the wearable gadgets market

Oculus Rift falls in price…again

Ukraine Police Official Says Likely Cover For Malware Installation Was Global Cyber Attack: Reuters

World Politics

World & Politics

Russia surpasses Saudi Arabia in oil production

China counts losses from sanctions against the DPRK

OCP Group Vs South African Courts: A storm is brewing on international maritime trade

Britain to conduct a study on labor migration after Brexit

CNN: Rex Tillerson may leave the post of US Secretary of State

Its South China Sea Territory Being Protected By Indonesia From 'Foreign' Threats

A Swarm-Like Attack From North Korea Could ‘Overwhelm’ South Korea's THAAD Missile Shield

Powerty in Italy tripled in 10 years