Weekly Currency Update GBP/NZD - Week ending 16th July
 

Hi All,

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

NZ Retail Sales came out worse than expected at 0.4% m/m (0.6% exp), but were a significant improvement from June’s negative figure. Most economists were expecting the RBNZ to hike rates by 25 bp’s to 3% later this month, but after weaker than expected CPI figures (0.3% vs 0.5% exp) markets now imply a 65% chance of a hike. NZ data will most likely be ignored by traders as all eyes will be on the US earnings season.

GBP/NZD movement – High’s & Low’s of last week (12th July – 16th July)

High’s: 2.1592
Low's: 2.1041

A movement of 2.62%

Difference on £200,000

High: NZD 431,840
Low: NZD 420,820

Difference of: NZD 11,020

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.

Regards


Mark Bodega
Director – HiFX