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GBP/NZD January Currency Update

GBP/NZD January Currency Update

Old Jan 24th 2010, 10:54 pm
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Default GBP/NZD January Currency Update

Hi All,

As promised here’s a brief update on what’s been happening with the NZD Dollar over the last week.

The Business NZ Manufacturing Index (52.9) for December showed that the sector expanded for a 4th month in a row to a two-year high; three of the five sub-indices rose, with only finished stocks and employment still in contraction. Consumer spending is also showing some signs of recovery as seen in the Retail Sales (+0.8%) that bounced back after two flat months. Despite improving activity and sentiment inflation remains subdued, the Consumer Price Index fell 0.2% to 2% in Q4 2009 and cooled expectations that the RBNZ would start to raise rates as early as March or April. No change in rates is expected this week though the language in the policy statement will be watched closely for any changes that may signal hikes before June.



GBP/NZD Movement – High’s & Low’s of last week (18/01/10 – 22/01/10)

High’s: 2.2825
Low’s: 2.2015

A movement of:3.68%

Difference on £200k

High: NZD456,500
Low: NZD440,300

Difference of: NZD16,200


Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.

A further update will be added next week.

Regards

Mark Rickard
Director
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