High NZ dollar, earnings to dictate direction

Thu, 26 Nov 2020

The soaring kiwi will keep up the pressure on exporters but earnings reports from Gentrack, Eroad, Pacific Edge and Argosy Property will garner interest today.“Positive global forces, the evidently stronger-than-expected recovery in the NZ economy, bullish anecdotes on business conditions, and the market increasingly coming around to the view that further rate cuts are not required, see the NZ dollar as flavour of the month,” said BNZ senior strategist Jason Wong.The kiwi was trading at 70.16 US cents at 8am in Wellngton versus 69.8...

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