Weekly Currency Update GBP/NZD - Week ending 27th August
Aug 31st 2010, 1:13 pm
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Weekly Currency Update GBP/NZD - Week ending 27th August
As promised here’s a brief update on what’s been happening with the New Zealand Dollar over the last week.
The quarterly survey of expectations on behalf of the Reserve Bank of New Zealand showed business managers forecast annual inflation to average 3.9% over the coming year, compared with 2.9% in the last survey in May. The survey also showed economic growth is seen at 2.3% in the coming year from 2.7% previously. Over two years, growth is seen unchanged at an annual rate of 2.8%.
Opinions about next month’s (September 16) monetary policy meeting are split with many analysts expecting a 25 basis point increase but the market is only pricing a 36% chance of another hike after a run of weak domestic economic data and worries over the sustainability of global growth.
GBP/NZD movement – High’s & Low’s of last week (23rd August– 27th August)
High’s: 2. 2211
Low's: 2.1727
A movement of 2.23%
Difference on £200,000
High: NZD 444,220
Low: NZD 434,540
Difference of: NZD 9,690
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
The quarterly survey of expectations on behalf of the Reserve Bank of New Zealand showed business managers forecast annual inflation to average 3.9% over the coming year, compared with 2.9% in the last survey in May. The survey also showed economic growth is seen at 2.3% in the coming year from 2.7% previously. Over two years, growth is seen unchanged at an annual rate of 2.8%.
Opinions about next month’s (September 16) monetary policy meeting are split with many analysts expecting a 25 basis point increase but the market is only pricing a 36% chance of another hike after a run of weak domestic economic data and worries over the sustainability of global growth.
GBP/NZD movement – High’s & Low’s of last week (23rd August– 27th August)
High’s: 2. 2211
Low's: 2.1727
A movement of 2.23%
Difference on £200,000
High: NZD 444,220
Low: NZD 434,540
Difference of: NZD 9,690
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
