New Zealand officially in recession as GDP falls for second quarter
New Zealand officially in recession as GDP falls for second quarter
www.rnz.co.nz New Zealand officially in recession as GDP falls for second quarter
The latest data on gross domestic product shows New Zealand's economy is now officially in recession.
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Why is the NZD getting stronger then?
It isn't, unless you compare against USD. But USD is falling against many other currencies so I'd say it's the USD getting weaker rather than NZD getting stronger.
The US economy is rebounding so why is their currency going down?
I'm not sure, but it might be to do with the Federal Reserve indicating they will add another 50bp to rates by the end of the year. But I'm no expect, I just looked at a currency graph to check USD against some major currencies.
24 comments