Weekly Currency Update GBP/NZD - Week ending 18th June
Jun 22nd 2010, 2:05 pm
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Weekly Currency Update GBP/NZD - Week ending 18th June
Hi All,
As promised here’s a brief update on what’s been happening with the NZ Dollar over the last week.
Retail Sales slipped for the second time in three months as households chose to conserve cash as the country only gradually drags itself out of recession. Income tax cuts in October and improved employment conditions should help to boost consumer confidence and demand in coming months despite further interest rate increases from emergency levels being still very much on the cards.
The NZD was able to climb steadily over the previous week but further gains will now start to become harder to sustain unless the global outlook improves significantly.
GBP/NZD movement – High’s & Low’s of last week (14th June –18th June)
High’s: 2.1364
Low's: 2.0944
A movement of 2.01%
Difference on £200,000
High: NZD 427,280
Low: NZD 418,880
Difference of: NZD 8,400
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
As promised here’s a brief update on what’s been happening with the NZ Dollar over the last week.
Retail Sales slipped for the second time in three months as households chose to conserve cash as the country only gradually drags itself out of recession. Income tax cuts in October and improved employment conditions should help to boost consumer confidence and demand in coming months despite further interest rate increases from emergency levels being still very much on the cards.
The NZD was able to climb steadily over the previous week but further gains will now start to become harder to sustain unless the global outlook improves significantly.
GBP/NZD movement – High’s & Low’s of last week (14th June –18th June)
High’s: 2.1364
Low's: 2.0944
A movement of 2.01%
Difference on £200,000
High: NZD 427,280
Low: NZD 418,880
Difference of: NZD 8,400
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
