NZD Exchange Rate
Ahh, New Zealand: The first country to give women the right to vote (1893) and also the first country to charge $1,000/kg for honey.
What influences the NZD/USD exchange rate?
As a commodity currency, the New Zealand dollar (or Kiwi) can depend heavily on the price of milk due to New Zealand’s reliance on its dairy industry for 30% of all exports.2
The NZD trades most actively against the U.S. dollar (USD), and the relative strength of the U.S. economy may play a role in the USD/NZD exchange rate. China is a major export partner for both countries, therefore any economic slowing or growth that impacts commodities destined for China may also influence the USD/NZD exchange rate.
The United States is one of New Zealand's top trade and investment partners. U.S. exports to New Zealand include aircraft, machinery, agricultural products, vehicles, and optic and medical instruments. U.S. imports from New Zealand include frozen beef, caseins, milk protein concentrate, wine, and machinery.
--US Department of State
The islands of New Zealand are actually the peaks of the 93% submerged continent Zealandia. The U.S. makes up about 40% of North America area-wise.
New Zealand is home to one of the world’s largest insects, the giant weta. It’s name comes from the Maori word ‘wetapunga’ meaning the ‘God of ugly things’.3 Fortunately, we don’t have those in the U.S.
Kiwifruit exports were worth NZ$1 billion dollars in 2014 and accounted for approximately 42% of New Zealand’s horticulture exports.4
For a more general discussion about exchange rate forecasting and macroeconomic factors to consider, check out this article.
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