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Hi All,

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

Producer Price data last week showed no pipeline pressure on inflation in Q3 and therefore no cause as yet for the RBNZ (Reserve Bank of New Zealand) to waiver from its stated course of keeping interest rates low until H2 2010. Producer input prices declined 1.1% q/q led by milk (-21%) and power (-8.2%), producer output prices fell by 1.4% q/q. Credit card billings edged up in October (+0.2% m/m) but are still 0.4% lower than a year ago, as consumers remain cautious amid continued job insecurity and anaemic growth.

This week Business Confidence will be watched for any further slippage from 10 year highs.

GBP/NZD Movement – High’s & Low’s of last week (16/11/09 – 20/11/09)

High’s: 2.2913
Low’s: 2.2414

A movement of 2.23%

Difference on £200k

High: 458,260 NZD
Low: 448,280 NZD

Difference of: 9,980 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



Jon Sermon
HiFX
 
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