Currencies  |  August 17, 2012 10:42:17

NZD grows with demand for commodities

New Zealand dollar rose yesterday against the U.S. against the Japanese yen today and keep their profits partly in response to commodity prices, which always means more demand for New Zealand currency.

The largest milk producer Fonterra of New Zealand Cooperative Group Ltd. announced on its website information that yields the October contract for the supply of milk powder increased by 7.3 percent and reached its highest level in two months. Thomson Reuters / Jefferies CRB commodity index rose yesterday by 0.5 percent. Purchasing Managers' Index NZ grows longer the second quarter in a row.

Macroeconomic data from the U.S. was relatively good, which riskier currencies also recorded. On the other hand, the positive fundamentals may mean that the Fed may refrain from further easing, or nervousness persists, as well as pressure on the NZD.

NZD / USD rose from 0.8071 yesterday to 0.8109, today is trading around 0.8090. NZD / JPY is trading at 64.20 yesterday after strengthening from 63.40 to 64.30. EUR / NZD has changed only slightly.

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NZD roste s poptávkou po komoditách

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