GBP/NZD August Currency Update
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GBP/NZD August Currency Update
Employment Change and Unemployment Rate (6.8% from 6.0%) weakness stunned the market in August and had analysts rapidly re-assessing interest rate expectations again. Expectations of further interest rate increases have been sharply scaled back in recent weeks and now the market is pricing in barely a 50% chance of another hike this year. Markets are implying only a 13% chance of a rate rise at the RBNZ meeting in September. Consequently, the NZD has weakened across the board through August and this looks set to continue as concerns grow about the sustainability of global growth and the ability of European sovereigns to service huge debt obligations.
Visitor Arrivals for the month rose to 1.4% from a disappointing 0.3% the previous month and credit card spending for the year fell to 2.7% from 4.5%.
Current Central Bank Rates:
NZ (Reserve Bank): 3.00%
UK (Bank of England): 0.50%
GBP/NZD Highs & Lows of August:
High: 2.2256
Low: 2.1511
A movement of: 3.46%
Difference this would make on £200k
High: NZD 445,120
Low: NZD 430,220
A difference of NZD 14,900
All of the information above can be explained clearly by your personalised dealer should you open a trading facility with HIFX. To discuss your requirements in more detail and for a free currency consultation please contact HiFX plc on 01753 859 159 or email [email protected].
Kind regards
Mark Bodega
Director - HiFX
__________________
www.hifx.co.uk
Visitor Arrivals for the month rose to 1.4% from a disappointing 0.3% the previous month and credit card spending for the year fell to 2.7% from 4.5%.
Current Central Bank Rates:
NZ (Reserve Bank): 3.00%
UK (Bank of England): 0.50%
GBP/NZD Highs & Lows of August:
High: 2.2256
Low: 2.1511
A movement of: 3.46%
Difference this would make on £200k
High: NZD 445,120
Low: NZD 430,220
A difference of NZD 14,900
All of the information above can be explained clearly by your personalised dealer should you open a trading facility with HIFX. To discuss your requirements in more detail and for a free currency consultation please contact HiFX plc on 01753 859 159 or email [email protected].
Kind regards
Mark Bodega
Director - HiFX
__________________
www.hifx.co.uk