Building Permits in Australia & New Zealand Rise, Aussie & Kiwi Gain

The Australian and New Zealand currencies rose today, before declining later, after the reports showed that number of building permits in these countries increased in July.

New Zealand building consents rose 6.3 percent in July, following a fall of 4.3 percent in June. Australian building consents increased 1.0 percent in July on a seasonally adjusted monthly basis after falling 3.6 percent in June. Currently, the kiwi tends to decline, while the Aussie lost all its gains.

NZD/USD rose from 0.8459 to 0.8486 as of 12:57 GMT today and earlier it touched the intraday high of 0.8535 — the highest level since August 4. AUD/USD traded at 1.0644 today, while earlier it climbed from 1.0656 to 1.0684.

If you have any questions, comments or opinions regarding the New Zealand Dollar, feel free to post them using the commentary form below.