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Kiwi falls after economy shrinks by most in nearly three decades
2020-06-18 17:09:33 GMT
(Economies.com)
The New Zealand dollar fell on Thursday, after data showed the economy has contracted at largest quarterly pace in nearly three decades in Q1.
Data showed today the New Zealand GDP shrank by 1.6% in Q1 compared to Q4 2019, at the largest quarterly pace since 1991.
The GDP also shrank 0.2% year on year, for the first time since 2009, amid forecasts for another quarterly contraction in this quarter by 19%.
This came as New Zealand and several other countries are battling the coronavirus pandemic, and its impact on their economies.
As of 16:21 GMT, NZD/USD fell 0.4% to 0.6431, after hitting a high of 0.6478 and a low of 0.6421.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.2132
|
-0.0041
|
0.3372%
|
|
|
|
|
1.4117
|
-0.0020
|
0.1379%
|
|
|
|
Tadawul
|
10322.68
|
86.96
|
0.85%
|
|
|
|
|
27.370
|
-0.434
|
1.563%
|
|
|
|
|
65.384
|
-0.008
|
0.012%
|
|
|
|
|
68.55
|
0.41
|
0.60%
|
|
|
|
|
1829.170
|
-15.055
|
0.816%
|
|
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