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Weekly Currency Update - GBP/NZD Week ending 15th January

Weekly Currency Update - GBP/NZD Week ending 15th January

Old Jan 11th 2010, 2:34 am
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Default Weekly Currency Update - GBP/NZD Week ending 15th January

Hi All,

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

Last week saw the annual Trade Deficit fall to its lowest level in 7 years as the value of imports fell more sharply than exports. The deficit for the year to November was $846m from a revised shortfall of 1.17b in the year to October. The decline in imports has been against the backdrop of an appreciating trade weighted NZD that has risen 9.8% in the last 12 months, which on previous occasions has spurred import growth and a burgeoning trade deficit. This week the respected NZIER Business Confidence release and Building Consents will be the focus of attention in the domestic economy.


GBP/NZD Movement – High’s & Low’s of last week (04/01/10 – 08/01/10)

High’s:2.2383
Low’s: 2.1604

A movement of: 3.61%

Difference on £200k

High: NZD447,660
Low: NZD432,080

Difference of: NZD15.580

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
HiFX
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