NZ Dollar Weakens Amid Middle East Tensions

The New Zealand dollar (NZD) has declined due to escalating geopolitical tensions in the Middle East. At 8am in Wellington, the kiwi traded at 62.99 US cents, down from 63.70 US cents the previous day. Bank of New Zealand (BNZ) senior markets strategist Jason Wong commented that geopolitical factors have had a stronger market impact than economic data. The decline in the NZD follows Iran’s missile attack on Israel, causing a surge in oil prices by nearly 5% and a drop in equity markets. The instability in the region has led to higher oil costs, lower equities, and falling interest rates. Israel's defense operations were underway as the crisis unfolded. At the time of writing, geopolitical developments continue to dominate market movements.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com