Weekly Currency Update - GBP/NZD Week ending 4th September
Sep 9th 2009, 10:15 am
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Weekly Currency Update - GBP/NZD Week ending 4th September
Hi All,
As promised here’s a brief update on what’s been happening with the New Zealand Dollar over the last week.
NBNZ (National Bank) Business Confidence (34.2%) rose for the 6th straight month in August as respondents became more optimistic that the economy will improve over the next 12 months. The own-business outlook (26%) also jumped to a near 5-year high, with more companies expecting their own business to grow in the next year. Perhaps in another sign of improving confidence, Commodity Prices (+4.3% m/m) rose for a 6th straight month, posting the largest gain since November 2007, as aluminium, pelts, lumber, wool and dairy all advanced. Despite rising commodity prices, inflation expectations remain subdued and the RBNZ (Reserve Bank of New Zealand) is not expected to raise official rates (Interest Rates) at its monthly meeting this week.
NZD Movement – High’s & Low’s of last week (31/08/09 – 04/09/09)
High’s: 2.4239
Low’s: 2.3661
A difference of 2.44%
Difference on £200k
High: 484,780 NZD
Low: 473,220 NZD
Difference of: 11,560 NZD
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
As promised here’s a brief update on what’s been happening with the New Zealand Dollar over the last week.
NBNZ (National Bank) Business Confidence (34.2%) rose for the 6th straight month in August as respondents became more optimistic that the economy will improve over the next 12 months. The own-business outlook (26%) also jumped to a near 5-year high, with more companies expecting their own business to grow in the next year. Perhaps in another sign of improving confidence, Commodity Prices (+4.3% m/m) rose for a 6th straight month, posting the largest gain since November 2007, as aluminium, pelts, lumber, wool and dairy all advanced. Despite rising commodity prices, inflation expectations remain subdued and the RBNZ (Reserve Bank of New Zealand) is not expected to raise official rates (Interest Rates) at its monthly meeting this week.
NZD Movement – High’s & Low’s of last week (31/08/09 – 04/09/09)
High’s: 2.4239
Low’s: 2.3661
A difference of 2.44%
Difference on £200k
High: 484,780 NZD
Low: 473,220 NZD
Difference of: 11,560 NZD
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
