The New Zealand dollar has been pushing to the upside since last week. As we know the growth in China is a big factor for the New Zealand and the Australian dollar. If the Chinese economy keeps recovering at the same rate we are going to see even stronger New Zealand dollar. Its a good time to buy the New Zealand dollar against the safe haven Japanese Yen or the U.S. dollar.
If we take a look at the Manufacturing PMI of New Zealand we are going to see that their economy is growing and recovering in a pretty good rate thanks to China. The Manufacturing PMI numbers will be key for the growth of the New Zealand economy.
It’s important to pay attention to the Manufacturing numbers because they determine the GDP growth and the GDP growth determines the growth of the economy. As long as China is doing well we are going to have more opportunities to buy the New Zealand dollar.
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