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October, 1 - New Zealand dollar fell to the worst level in 10 years

You know what currency has it the worst today? Unexpectedly it is New Zealand dollar. The currency fell as a sympathy act towards Australian dollar where just this morning the rates were cut, but if Australian national currency managed to bounce back, New Zealand dollar just kept on tumbling lower and lower until the point where it was on the lowest price in 10 years! 10 years!

 

nzdusd 1.10.2019

 

New Zealand national currency has been tumbling for a long time, but the situation obviously never got as bad as it did today. Now experts predict the further decline of the currency when the rates are predicted to be cut just this next month. Plus, business confidence has also not been growing. It seems that the latest report shows the slip of the business confidence in the country by 35 percent. GDP is also not going to see the growth. All and all it seems that NZD is facing one of the toughest case of recession and one of the hardest decline in the history of its trading. Import and export numbers, so important for the currency, are not improving because of the trade war between USA and China – one more unlikely victim of this trade war, am I right?

 

Well, the slide, hopefully, has already reached its lowest point, otherwise there is a high chance that the economy of New Zealand along with NZD are just not going to withstand the pressure, which is going to result in collapse in the country., naturally.

 

With currencies like NZD and AUD it is perfect to use trading signals right now.

 

 

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