Weekly Currency Update GBP/NZD - Week ending 23rd July 2010
Jul 27th 2010, 9:16 am
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Weekly Currency Update GBP/NZD - Week ending 23rd July 2010
As promised here’s a brief update on what’s been happening with the NZ Dollar over the last week.
NZ data was extremely light last week with Visitor Arrivals and Credit Card Spending taking a back seat as global investor sentiment once again set the tone for the commodity currencies.
This week markets will focus attention on the RBNZ’s rate announcement due on Thursday where they are widely expected to raise rate by 25bp’s to 3.00%. Markets imply an 88% chance of this happening, up from 65% last week.
GBP/NZD movement – High’s & Low’s of last week 19th July – 23rd July
High’s: 2.1756
Low's: 2.0983
A movement of 3.68%
Difference on £200,000
High: NZD 435,120
Low: NZD 419,660
Difference of: NZD 15,460
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
NZ data was extremely light last week with Visitor Arrivals and Credit Card Spending taking a back seat as global investor sentiment once again set the tone for the commodity currencies.
This week markets will focus attention on the RBNZ’s rate announcement due on Thursday where they are widely expected to raise rate by 25bp’s to 3.00%. Markets imply an 88% chance of this happening, up from 65% last week.
GBP/NZD movement – High’s & Low’s of last week 19th July – 23rd July
High’s: 2.1756
Low's: 2.0983
A movement of 3.68%
Difference on £200,000
High: NZD 435,120
Low: NZD 419,660
Difference of: NZD 15,460
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
