Buying New Zealand Dollar rates of exchange are set to come under pressure from the UK side of things, with the UK the focus of markets together having their release of the Autumn Statement today at 12:30 GMT.
This is a public declaration of any changes in public spending policy, an announcement of targets and key areas of focus, but also the degree of borrowing expected based on how strongly the economy is expected to perform and how high tax receipts are expected to climb to, or how low they have to account for.
Quite a lot of information has been released to markets already surrounding a few minor and uncontroversial points about the Autumn Statement.
Infrastructure spending on roads are expected to improve to tackle congestion, increases in the national living wage, and a clampdown on upfront letting fees in the UK are all something the public can get behind.
However, growth forecasts are expected to be slashed heavily by almost half next year, and the hole in public finances will be left for markets to see. What will the borrowing level be? When will it begin? At what pace will this be drawn down and spent?
All of the above are questions which will be answered with varying degrees of frankness as the day wears on. The full details will also be pored on by markets in the days to come with trading and speculation on the news fuelling currency market action over the next few days.
Given the recent improvements in buying rates, it may be key in the near term to protect yourself from any adverse movements in the marketplace.
You can contact me on [email protected] to discuss the options to you to safeguard your transfer, whether it is in the immediate or long term (up to 18 months) from any adverse movements in the meantime.
I have never had an issue beating the rates of exchange on offer elsewhere, so a brief conversation could save you thousands on a prospective transfer, whether you are buying or selling New Zealand Dollars.