The New Zealand dollar fell today after a report showed a drop of building permits last month, but the currency pared losses later and now trades near its opening level.
The seasonally adjusted number of new dwellings, including apartments, fell 0.6 percent in October after rising 1.4 percent in the prior month. The ANZ business confidence index rose from 53 in October to 61 in November. The report said that there was “a lift in business confidence measured right across the board”, but warned:
However, it wasnât all one-way traffic in this monthâs results. The improvement in some survey questions was marginal, while the gloss was taken off a handful of other indices.
NZD/USD traded at 0.8120 as of 10:44 GMT today after falling from 0.8115 to 0.8083. NZD/JPY was near 83.05 following the drop from 83.03 to 82.78.
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