NZD/USD Falls as S&P Downgrades New Zealand's outlook

NZD/USD Falls as S&P Downgrades New Zealand’s outlook

NZD/USD got a punch from S&P – the credit rating agency downgraded the country’s outlook from stable to negative and sent the kiwi down. NZD/USD rose before the announcement and reached 0.7835, but plunged more than 100 pips after this surprising news. The blame falls on the banking sector,that suffers a “significant weakening in the credit quality”. Read more on Bloomberg.

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile

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