On that election poll, the NZD and what to expect now
I posted yesterday on: New Zealand election September 23 - here's the bottom line
(Spoiler: Don't panic)
Early in the UK morning a poll was released showing National well ahead: New Zealand's National Party increase lead over Labour opposition
On that poll, the NZD surged.
Thoughts on the NZD, and the poll from CBA in Sydney this morning:
NZD has retained most of yesterday afternoon's 1 cent gains against the USD and AUD following the release of a poll showing the New Zealand government (led by the National party) will win 47% of the vote in New Zealand general election on 23 September 2017.
- Yesterday's poll is in stark contrast to recent polls that indicated the opposition Labour party will be the largest party.
- The upcoming election has been a source of volatility in the NZD in the past few weeks. But once the election is over, we expect the fundamental drivers of NZD, such as commodity prices and interest rates, to again be the main support for NZD.