Overnight tonight we have Chinese economic data which generally impacts the Antipodean currencies, such as the Australian and New Zealand Dollar, mainly due to the fact that both countries do rely on exports to China, so should China’s economy drop off then this can impact the value of the Australian and New Zealand Dollar.
Tomorrow night we have news that will impact those with an interest in New Zealand Dollar exchange rates. at 22:00pm U.K time we have the release of the New Zealand interest rate decision, shortly followed by the RBNZ press conference shortly after.
No immediate changes are expected to the interest rate in New Zealand, however comments made in the press conference shortly after will be key. Any hike in interest rates is seen as positive for the currency concerned and any cut in interest rates is generally seen as negative. With the markets moving on rumour as well as fact even the slightest hint to a rate change in the future can lead to a currency moving in advance of anything even happening.
Thursday is the key day for the Pound and U.K economic data as we have the release of manufacturing and Industrial production figures for the U.K at 09:30am followed later in the day by the NIESR (National Institute of Social and Economic Research) growth estimate. This growth estimate is closely monitored by investors as it is generally fairly close to the actual growth figures released so the Pound can move fairly swiftly off the back of it. The release is expected at 13:00pm on Thursday.
I personally feel that the Pound is undervalued at present and some Sterling strength soon would not be a great surprise, we do however need something to be the catalyst for this rise so economic data this week will once again be key.
Should you wish to be made aware of any spikes in the market or should you simply wish to discuss how to ensure you get the very best exchange rate on a pending property purchase or sale, or indeed a business transaction coming up then you are more than welcome to contact me personally.
You can contact me (Daniel Wright) the creator of this site over 7 years ago by emailing me on email@example.com or by calling our trading floor and asking for me on 01494 787 478 and i will be more than happy to speak with you personally.