NZ dollar declines vs. Aussie
The decline occurred ahead of the Reserve Bank of Australia's decision on interest rates today.
The decline occurred ahead of the Reserve Bank of Australia's decision on interest rates today.
Hinds County bucked the trend when it netted US$6.7 million in an interest rates swap deal with a New York derivatives dealer.
Weak data on US employment costs prompted traders to pull back expectations for US interest rate hikes.
New Zealand business confidence fell for a second month, to the most pessimistic in six years, led by the agricultural sector and construction companies.
The dollar fell as the prospect of more easing by the Reserve Bank dented the appeal of the kiwi.
The kiwi dollar has risen to a six-and-a-half week high against the Aussie after a slump in Chinese equities markets.
The dollar fell after signs of weaker Chinese manufacturing activity dented demand for commodity currencies.
The New Zealand dollar held onto some of its gain after the Reserve Bank yesterday cut the benchmark interest rate.
Banks reduce mortgage rates on the back of Reserve's announcement - and it's likely the OCR will fall further.
Wheeler struck the right note in this morning's official cash rate announcement: appropriately dovish but not alarmist.
The New Zealand dollar has fallen ahead of the Reserve Bank's expected interest rate cut this morning.
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.