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- NZD/USD falls after GlobalDairyTrade auction results
NZD/USD falls after GlobalDairyTrade auction results
The cost of dairy products fell by 3.0% after it grew by 1.7% in the previous auction. It is worth emphasizing the fall in prices was recorded for the first time since August. Auction results also showed that the rate of milk powder decreased by 3.8%.
Dairy products make up a significant proportion of New Zealand's exports, so the dynamics of their prices has a direct impact on the New Zealand dollar. After the announcement of the results NZD / USD is down 0.40%.
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