As promised here’s a brief update on what’s been happening with the NZ Dollar over the last week.
Last week saw Retail Sales (0.0% m/m) stall as demand in department stores and appliance outlets declined, with high unemployment and a slowing housing market undermining consumer confidence. Market expectations for an early start to the monetary tightening cycle have been steadily wound back in recent weeks as data paints a picture of an economy struggling to gain traction after the recession.
Business NZ Manufacturing Index (52.0 from 52.9) gave further evidence of a sluggish recovery.
This week Producer Prices are not expected to show any pipeline inflationary pressure to change the interest rate outlook.
GBP/NZD movement – High’s & Low’s of last week (08-02-10 to 12-02-10)
High’s: 2.2999
Low's: 2.2378
A movement of 2.78%
Difference on £200,000
High: NZD 459,980
Low: NZD 447,560
Difference of: NZD 12,420
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
Last week saw Retail Sales (0.0% m/m) stall as demand in department stores and appliance outlets declined, with high unemployment and a slowing housing market undermining consumer confidence. Market expectations for an early start to the monetary tightening cycle have been steadily wound back in recent weeks as data paints a picture of an economy struggling to gain traction after the recession.
Business NZ Manufacturing Index (52.0 from 52.9) gave further evidence of a sluggish recovery.
This week Producer Prices are not expected to show any pipeline inflationary pressure to change the interest rate outlook.
GBP/NZD movement – High’s & Low’s of last week (08-02-10 to 12-02-10)
High’s: 2.2999
Low's: 2.2378
A movement of 2.78%
Difference on £200,000
High: NZD 459,980
Low: NZD 447,560
Difference of: NZD 12,420
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
