New Zealand COVID-19 alert level raised to 3
Forex News

New Zealand COVID-19 alert level raised to 3

The New Zealand Prime Minister, Jacinda Kate Laurell Ardern, has crossed the wires and has warned that they will be moving to COVID-19 alert level 4 within 48 hours – it is currently at 3. 

Key comments

  • The nation must be prepared to go into self-isolation.
  • will be moving to a nation-wide isolation scenario.
  • Schools are closed as from tomorrow. 
  • Essential services will remain open.

FX implications

The bird remains both volatile and vulnerable, tracking the updates of the global pandemic with additional fiscal stimulus packages announced today in the form of QE from the Reserve Bank of Newzealand. However, it is arguable that the Q will only cushion rather than stimulate the economy. 

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