New Zealand Stocks Fall 12% in 2022 with Chinese Contagion

New Zealand’s benchmark stock market the NZ50 fell 65.21 points or 0.57% on the last trading day of the year to finish at 11,473.24, with a loss of 12% for 2022. The mood of the market was in tune with global markets hit by soaring inflation, and aggressive monetary tightening from the Reserve Bank of New Zealand. The RBNZ raised its Official Cash Rate by another 75 bps to 4.25% at its last meeting, the highest since January 2009. The … Continue reading “New Zealand Stocks Fall 12% in 2022 with Chinese Contagion”

Reserve Bank Of New Zealand TWI Re-Weighting Sees Chinese Yuan Higher and Australian Dollar Lower

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”

Kiwi Slaughtered After New Zealand Moves Left With New PM Arden

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.