Currency Note Worldwide

New Zealand and Canadian dollar downbeat

By Callum Holmes August 27th, 2014

  • The New Zealand dollar is trading around six-month lows against the US dollar. This was due to downbeat trade data coming out from New Zealand, which saw demand for the kiwi dwindle. The official data which was released early on Tuesday stated that New Zealand’s trade balance had moved to a deficit of NZ$692 million for July whereas analysts had anticipated a deficit of NZ$475 million for last month.
  • The Royal Bank of Canada has stated the Canadian dollar has reached a technical level that could drive it to its weakest position since March against the US dollar . This was following the Canadian dollar reaching three-month lows against its US counterpart on Tuesday. The currency has continued to drop off, following comments by Stephen Poloz, Governor of the Bank of Canada, around slack in the country’s labour market.

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