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Weekly Currency Update - GBP/NZD Week ending 22nd January

Weekly Currency Update - GBP/NZD Week ending 22nd January

Old Jan 18th 2010, 9:34 pm
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Default Weekly Currency Update - GBP/NZD Week ending 22nd January

Hi All,

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

Business Confidence (31 from 36) dipped in Q4 2009 but remained near a decade high and supported expectations that a slow economic recovery was in place.
Capacity Utilisation (91.07% from 88.42%) was surprisingly high given the early stages of the economic recovery and may well presage inflationary pressure down the line as growth takes hold. However the labour market remains weak with hiring intentions flat, which will temper any early return of wage demand pressures. At this stage the RBNZ is still expected to be able to hold rates at current record low levels until the middle of 2010. A broad spread of data this week will be watched closely for any reasons to change the official interest outlook.

GBP/NZD Movement – High’s & Low’s of last week (11/01/10 – 15/01/10)

High’s: 2.2166
Low’s: 2.1649

A movement of:2.39%

Difference on £200k

High: NZD443,320
Low: NZD432,980

Difference of: NZD10,340

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.


Mark Bodega
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