This morning the New Zealand dollar clawed back some of its losses against sterling when the Statistics fro New Zealand released their latest GDP numbers.
Quarterly figures exceeded expectation and rose to 1.1% from 0.7% showing a rise in the amount of goods and services produced.
The GDP numbers were the last economic data release for the year for the Kiwi dollar and the movement for the rest of the year will be due to speculators.
Trading levels are thin through the festivity break and speculators will move their assets out of riskier currencies and into safer havens.
The New Zealand dollar is a commodity currency therefore it relies heavily on China which is a risk. I wouldn’t be surprised to see the New Zealand dollar fall away for the remainder of the year and the currency that could benefit is the US dollar.
If you are buying or selling New Zealand dollars this week, month or year and I haven’t covered your currency pair I would recommend emailing me with the currency pair (NZDUSD, NZDGBP, NZDAUD) and the reason for the transfer (company goods, property purchase) and I will response with my forecast and the options available to you [email protected].
Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.
** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **