As promised here’s a brief update on what’s been happening with the NZ Dollar over the last week.
Some solid data last week gave the market encouragement that the economy is gradually gaining some traction after emerging from recession in mid-2009. Credit Card Spending (+6.3% y/y) hit a 2-year high as consumers gained confidence in an improving economic environment and this was supported by a consumer confidence survey that showed a cautiously optimistic near-term outlook but a more positive tone for the next 12 months.
Inflation pressure remains tame as seen in the CPI (+0.4% q/q, +2.0% y/y) that fell below expectations and again had traders pushing back their expectations for the first increase in the cycle from June to July.
GBP/NZD movement – High’s & Low’s of last week (19th April– 23rd April)
A movement of 1.58%
Difference on £200,000
High: NZD 435,060
Low: NZD 428,280
Difference of: NZD 6,780
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.