RBNZ: Australian economy strongly influences NZ dollar
A Reserve Bank of New Zealand paper published on Tuesday shows news announcements on the Australian economy explain short-term movements in the New Zealand dollar to a significant extent.
Andrew Coleman and Özer Karagedikli, the paper's authors, examine how the NZ dollar/dollar exchange rate and Australia dollar/dollar exchange rate respond to the release of Australian macroeconomic news including the consumer price index, GDP, trade balance, and monetary policy decisions.
Their analysis shows
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