NZ Dollar Drops with Falling Business Confidence

The New Zealand dollar fell after the disappointing print of the nation’s business confidence, which a pessimistic outlook in all sectors of the economy.

The ANZ Business Confidence dropped from -10.1 in October to -39.3 in November. The report commented on the reading:


Uncertainty around changing Government policy, a softer housing market, and difficulty getting credit are likely culprits.

Now, traders wait for the trade data due for release at 21:45 GMT today.

NZD/USD dropped from 0.6877 to 0.6829 as of 19:36 GMT today. EUR/NZD rallied from 1.7210 to 1.7415.

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