NZ market still in out-of-office territory

In currency land, it’s been a bit more exciting, with the US dollar continuing to edge downwards resulting in a much-needed boost for the NZ dollar. 

Today, the NZ dollar was trading at 63.70 US cents at 3pm in Wellington after reaching 64-cent territory earlier in the day.

The kiwi dollar was sitting at 63.59 cents at 3pm yesterday. The S&P/NZX 50 index rose 18.8 points, or 0.16%, to 11,665.26. Turnover was a very light $105.7 million.

Harbour Asset Management portfolio manager Shane Solly said that NZ’s market remained “quiet” and was seeing very low volumes and a spot of wariness as investors waited impatiently for consumer price inflation data to come out of the US later this week.