WELLINGTON - The New Zealand dollar continues in dataless limbo, closing flat yesterday and with only the Australian dollar influencing it before local growth figures next Monday.
Deutsche Bank's Daniel Swasbrook said the kiwi dollar would probably circle within the 47USc to 47.60USc range until then.
In the meantime, the aussie would continue to be the major driving force.
"You just have to look at the kiwi-aussie cross rate, that's been stable around 78.70Ac all week.
"There's been no action out there at all," Mr Swasbrook said.
Next week, the market expects a 0.7 per cent rise in gross domestic product over the March quarter, or 4.3 per cent for the year.
"If our GDP is weaker we'll get hit quite hard. If it's up towards that 0.7 per cent it'll be stable around here," Mr Swasbrook said.
If the numbers were on the weaker side, the kiwi could go to around 77Ac.
In the middle of next week world markets will focus on America's central bank rates setting meeting.
- NZPA
Dollar in holding pattern
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