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Weekly Currency Update - GBP/NZD Week ending 11th December

Weekly Currency Update - GBP/NZD Week ending 11th December

Old Dec 7th 2009, 10:44 am
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Default Weekly Currency Update - GBP/NZD Week ending 11th December

Hi All,

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

New Dwelling Consents (+11.7% m/m) rose for a 4th straight month in October as the housing market showed further signs of recovery.
The decline in housing activity was a key factor in the economy being in recession for 5 quarters but recently the sector has shown some stability with building consents now some 20% higher since the start of the year.
This week the focus will be on the RBNZ and although no change in official rates is expected the post-decision statement will be watched for any change in tone, especially after the very strong employment data from the US on Friday.

GBP/NZD Movement – High’s & Low’s of last week (30/11/09 – 04/12/09)

High’s: 2.3179 on the 30/11/09
Low’s: 2.2692 on the 01/12/09

A movement of: 2.45%

Difference on £200k

High: NZD 463,580
Low: NZD 453,840

Difference of: NZD 9,740

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 Bodega
Director
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