The Pound Sterling (GBP) has fallen by -0.2% against the New Zealand Dollar (GBP/NZD) today; this has stemmed from the US Fed Federal Open Market Committee (FOMC) Minutes from September showing an overtly cautious attitude towards a US interest rate hike.
UK Trade Balance Figures to Decide Next Movement in GBP/NZD Pairing
The next movement in the pairing will occur soon when the UK Trade Balance results for August are released; unfortunately for the Pound (GBP), only small reductions have been predicted so far.
In other relevant news, the price of milk has risen slightly and yesterday’s New Zealand Card Spending in Retail figure for September rose by 0.9%.
Earlier…
The Pound Sterling (GBP) has trended narrowly in the positive against the New Zealand Dollar (GBP/NZD) today; this has come in spite of the UK RICS House Price Balance for September falling to 44% and the New Zealand monthly September Truckometer for Heavy Vehicles seeing a 1.7% rise.
BoE Interest Rate Decision to Set the Stage for Further Possible GBP/NZD Gains Today
Ahead of tonight’s New Zealand Card Spending data, the next biggest economic publication for the pairing will be the Bank of England (BoE) Interest Rate Decision and its accompanying minutes.
Earlier…
The Pound Sterling to New Zealand Dollar (GBP/NZD) exchange rate has declined considerably today and against other currencies, the Pound (GBP) has had a decidedly varied faring.
GBP/NZD Exchange Rate News: Sterling gains Support from UK Production Data but cannot Overtake ‘Kiwi’
The Pound Sterling (GBP) has fallen by -0.6% against the New Zealand Dollar (GBP/NZD) today and notable rises and falls have both been seen elsewhere. Included in the former category have been advances of 0.5% against the US Dollar (GBP/USD) and more than 0.7% against the Euro (GBP/EUR), the Czech Koruna (GBP/CZK) and the Hungarian Forint (GBP/HUF). For the latter, losses of -0.6% have been seen against the Thai Baht (GBP/THB) along with -1.5% against the Russian Ruble (GBP/RUB).
For the most part, today’s UK Production data has been supportive of the Pound, comprising of the monthly and yearly Industrial and Manufacturing Production results for August. With the exception of the annual Manufacturing result, all other fields have risen over predictions.
New Zealand Dollar Rally Triggered by TPP Deal Agreement, Milk Price Fluctuations Fail to Dislodge ‘Kiwi’ Confidence
The New Zealand Dollar (NZD) has been on a bull run today against all of its rivals. The most notable gains have been by 0.6% against the Pound Sterling (NZD/GBP) and over 1% against the Canadian Dollar (NZD/CAD), the Chinese Yuan (NZD/CNY), the Euro (NZD/EUR) and the US Dollar (NZD/USD).
Most of this recent ‘Kiwi’ optimism has been caused by the reaching of an agreement on the Trans-Pacific Partnership (TPP) on Monday, given that most other domestic data for New Zealand has been disappointing this week. The NZIER Business Opinion Survey released yesterday fell from 5 points down to -14 and the price of milk has once again been fluctuating wildly, hardly a favourable condition for the New Zealand economy.
GBP/NZD Exchange Rate Forecast: ‘Kiwi’ Road Stats to Decide Opening Movement Tomorrow on Major UK Data Day
Tomorrow is the most important day of the week for the Pound Sterling (GBP) in terms of economic releases, as it will bring the announcement of the Bank of England’s (BoE) Interest Rate Decision and the simultaneously released minutes. No change is expected in the former decision, therefore most attention will be focused on the contents of the minutes and whether they imply that a UK interest rate hike will take place next year or potentially the year after.
Ahead of this, however, is the New Zealand monthly ANZ Truckometer for Heavy Vehicles in September, which measures the movement of large-goods transporting vehicles around the country. High figures generally indicate a better outlook for the ‘Kiwi’ (NZD) economy; the last posting saw a -0.6% decline.
Current GBP, NZD Exchange Rates
The Pound Sterling to New Zealand Dollar (GBP/NZD) exchange rate was trending in the region of 2.3142 and the New Zealand Dollar to Pound Sterling (NZD/GBP) exchange rate was trending in the region of 0.4323 today.
Comments are closed.