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The RBA left its cash rate unchanged, but dropped both a commitment to keeping bond yields low and no hike in interest rates until 2024.
The AUD/USD and NZD/USD should continue to be underpinned as long as investors remain optimistic over the developments over US-China trade relations. Technical factors could slow down the rally ...
The Consensus forecast for euro-area producer price inflation significantly outperforms the naïve forecast in the short-term. Finally, the Consensus forecast for the USD/EUR exchange rate during the period from 2002 to 2009 is more precise than the naïve forecast and the forecast implied by the forward rate." [12]
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The market convention is to quote most exchange rates against the USD with the US dollar as the base currency (e.g. USDJPY, USDCAD, USDCHF). The exceptions are the British pound (GBP), Australian dollar (AUD), the New Zealand dollar (NZD) and the euro (EUR) where the USD is the counter currency (e.g. GBPUSD, AUDUSD, NZDUSD, EURUSD).
In the foreign exchange market, commodity currencies generally refer to the New Zealand dollar, Norwegian krone, South African rand, Brazilian real, Russian ruble and the Chilean peso. [ citation needed ] Commodity currencies' nature can allow foreign exchange traders to more accurately gauge a currency's value, and predict movements within ...
The New Zealand Treasury defines "recession" as "consecutive falls in real GDP." The department said that New Zealand's real GDP fell 3.3% between the December 2007 quarter and the March 2008 quarter, and that this start, before any other OECD nation, was the result of domestic factors.
The New Zealand dollar is among the 10 most-traded currencies. [4] On 11 June 2007 the Reserve Bank sold an unknown worth of New Zealand dollars for nine billion USD in an attempt to drive down its value. This is the first intervention in the markets by the Bank since the float in 1985.