The RBNZ released it’s annual re-weighting of the Trade-Weighted Index (TWI) Thursday to take effect on Friday 10 December 2021. The Chinese yuan weighting rose from 0.2348 to 0.2704. Australian dollar weighting fell from 0.1871 to 0.1729. The TWI is a measure of the value of the New Zealand dollar relative to the currencies of New Zealand’s major trading partners. There are 17 currencies included in the TWI and each currency is weighted using the country’s two-way goods and services … Continue reading “Reserve Bank Of New Zealand TWI Re-Weighting Sees Chinese Yuan Higher and Australian Dollar Lower”
The New Zealand dollar has tumbled in foreign exchange markets after the fallout from the party with the balance of power, First Party after the recent election decision to side with the opposition Labour/Green coalition. The inexperienced Jacinda Arden is the new Prime of Minister of New Zealand which has caused finacial markets to lurche lower.
The New Zealand dollar has sold off for 3 straight cents since tagging 75.50 in late July with pressure from AUDUSD, dairy exports and now budget projections. Kiwi now rests on a key daily support line.