Currency Note Worldwide

Problems still exist elsewhere

By Ricky Bean March 19th, 2015

  • New Zealand was glad to see the hump of the week over as the local currency gained strength on Wednesday. The country’s 2014 current account balance reached a deficit equivalent to 3.3% of Gross Domestic Product (a measure of growth), better than the 3.4% expected, while fourth quarter data showed a balance in deficit by NZ$3.2 billion. This saw the New Zealand dollar gain on its US counterpart, trading at 0.7314 at end of play on Wednesday.
  • Downbeat Canadian sales data saw the Canadian dollar very much rooted at six-year lows against its neighbour. Wholesale sales dropped 3.1% in January, dramatically lower than original expectations. This added to what has been a poor week for Canada, following weak manufacturing sales data earlier in the week.

Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.