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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.

RBNZ (Reserve Bank of New Zealand) Governor Bollard’s warnings about the vulnerability of the NZ economy the week before were brought into sharp focus as the Unemployment Rate (6.5%) hit its highest level for 9 years; the economy shed 17k jobs in Q3 and the Governor reaffirmed his view that the haul out of recession will be slow and vulnerable.

Manufacturing and Retail Sales will give further clues to Q4 economic momentum this week.

GBP/NZD Movement – High’s & Low’s of last week (02/11/09 – 06/11/09)

High’s: 2.3099
Low’s: 2.2587

A movement of 2.27%

Difference on £200k

High: 461,980 NZD
Low: 451,740 NZD

Difference of: 10,240 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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