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Hi All,

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

Producer input prices (+0.3% q/q) rose slightly in the December quarter as wholesale inflation was pushed up by rising milk and electricity costs; however year-on-year prices have fallen by 3.3%. Output prices fell by 3.8% from a year earlier with meat and meat product prices leading the decline as export demand has dipped. Overall the report showed little inflationary pressure to concern the RBNZ and no reason for interest rate hikes before June. Markets have had to adjust interest expectations quite dramatically as a series of weak economic releases, including the jobless rate hitting a 10-year high, have put chances of the first rate hike back from March to the long stated RBNZ preferred month of June. Building Consents and Business confidence will be watched but international news is likely to be the main driver for markets again this week.

GBP/NZD Movement – High’s & Low’s of last week (15/02/10 – 19/02/10)

High’s: 2.2546
Low’s: 2.2062

A movement of:2.19%

Difference on £200k

High: NZD 450,920
Low: NZD 441,240

Difference of: NZD 9,680

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.


Mark Bodega
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