Sterling proves resilient against the New Zealand Dollar
Sterling has gained significantly against the New Zealand Dollar of late due to the weakening of commodity prices and some more certainty being added to the Brexit process. In the last month we have seen a 5% gain against the New Zealand Dollar and I think their is the possibility for further gains. UK Trade negotiations will be a key factor as to the value of the pound. It is well worth keeping an eye on events as they unfold if you wish to maximise your return.
In the early hours we saw the release of New Zealand unemployment data and we did see a drop in unemployment from 5.2% to 4.9% in Q1. There was a brief spike in New Zealand Dollar value only for the pound to recover shortly afterwards. This is an example of why being in touch with an experienced broker can warrant rewards. Due to the time difference you can miss such opportunities in this case if you were a New Zealand Dollar seller. By utilising a limit order, you can set a target rate of exchange and should that rate become available your order will automatically trigger, the order is in place 24hrs a day.
The fall in unemployment should not go unnoticed however, as this could spur wage growth. If data continues in this positive fashion the Reserve Bank of New Zealand (RBNZ) will have to consider raising interest rates which has the potential to cause New Zealand Dollar strength.
If you have a currency requirement I would be happy to help. It is crucial to be in touch with an experienced broker in order to maximise the return on your trade. If you let me know the currency pair you are trading, time scale and the volume of your trade I will endeavour to produce an individual trading strategy to suit your needs. If you already have a currency provider let me know what you have been quoted and I am confident I will be able to demonstrate a significant saving. I can be contacted at [email protected]. Thank you for reading.