![NZ dollar at 'Goldilocks' level](/pf/resources/images/placeholders/placeholder_l.png?d=793)
NZ dollar at 'Goldilocks' level
The NZ dollar has been trading around 65 US cents, which the Prime Minister has previously called the "Goldilocks" level.
The NZ dollar has been trading around 65 US cents, which the Prime Minister has previously called the "Goldilocks" level.
The dollar has since consolidated after a slump in dairy prices and benign inflation stoked expectations of interest rate cuts.
Confidence fell as households turned sour on the economic outlook, although more remain positive rather about their personal situation.
Consumer prices rose as a weaker currency and higher global oil prices lifted the cost of petrol.
The dollar plummeted after whole milk powder fell more than expected in the GlobalDairyTrade auction overnight.
Wall Street moved lower overnight as Greek lawmakers prepared to vote on a proposal that would secure its third international bailout.
The dollar gained as an unexpected decline in US retail sales raised speculation of a delayed increase in US interest rates.
US retail sales slid 0.3pc in in June, the weakest since February, lowering expectations the Fed will hike interest rates in September.
The dollar weakened as Eurozone leaders stepped up their demands for Greece reforms at meetings over the weekend.
The dollar was little changed as risk sentiment improved following a bounce in Chinese equities and new Greece proposals.
"The Australian dollar is among the worst performing major currencies," a BNZ currency strategist says.
Wall St and European shares fell overnight as fears about the Chinese share fire sale and its economic outlook grows.
The dollar fell as commodity prices dropped on concern about waning demand.
Business confidence has fallen to a three-year low, led by regions like Waikato, Canterbury and Southland particularly exposed to the dairy sector.
The country's business confidence plunged as companies became pessimistic about profitability expectations.
The kiwi dollar was little changed overnight as traders awaited further developments in Greece.
The dollar hits a five-year low as Greeks reject austerity in referendum.
Because Greece doesn't have its own currency, it couldn't increase its competitiveness and boost growth through devaluation.
Auckland housing affordability has fallen 10.2pc in the quarter - and 25 per cent over the previous 12 months.
World stockmarkets have moved only slightly overnight, as the news from Greece changes minute by minute.
World shares have slumped on concern Greece is headed for default and exit from the euro zone.
The kiwi dollar has fallen gain, as the Greece debt crisis pushes investors into 'safe havens".