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Weekly Currency Update - GBP/NZD Week ending 25th December

Weekly Currency Update - GBP/NZD Week ending 25th December

Old Dec 21st 2009, 8:41 am
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Default Weekly Currency Update - GBP/NZD Week ending 25th December

Hi All,

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

New Zealand companies expressed their optimism this week; as 36.9% (the highest reading since May 2002) of businesses surveyed by the NBNZ expect their own business to improve over the next 12 months. However, despite this the NZD direction’s was large determined by fluctuating risk appetite and concerns that around the removal of special liquidity provisions by the Federal Reserve in quarter one 2010. This week in a low liquidity environment the NZD direction will still be highly correlated to risk appetite. However, GDP will also watched closely to gauge the health the NZ economic recovery and whether this may force the RBNZ out of their recent inertia.


GBP/NZD Movement – High’s & Low’s of last week (14/12/09 – 18/12/09)

High’s: 2.2861(18/12/09)
Low’s: 2.2326 (14/12/09)

A movement of:2.40%.

Difference on £200k

High: NZD457,220
Low: NZD446,520

Difference of: NZD10,700

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
Director HiFX
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