How will GBPNZD rates perform this week?

The pound to New Zealand dollar has been rising as the pound benefits from increased expectations of a softer Brexit. The strength and weakness of the pound is very much linked to the performance of the UK government in the Brexit progress and assumptions over the type of deal the UK will get.

If you need to buy or sell the pound for the New Zealand dollar then making sure you get the right exchange rate is important, understanding the market and all of your options is also vital to ensuring you get the most for your money from the transaction.

There is some key news this week from the New Zealand dollar this evening with the latest New Zealand trade balance figures which are released at 21.45 UK time tonight. Whilst not a major market mover this could see the Kiwi unsettled since the New Zealand economy relies heavily on the strong performance of its exports.

What will likely move the Kiwi too will be the economic data from the United States as we get information on the performance of the United States economy and can start to understand the movements on US interest rate rises. This is very much linked to the rates on the Kiwi dollar as the Kiwi is used by investors because of its higher yield, with higher interest rates on offer.

If the US are looking at raising interest rates the Kiwi could weaken, if not then the Kiwi might strengthen. Other Kiwi data released is fairly light before Friday, Terms of trade Index and and Visitor Arrivals.

Friday’s speech by Theresa May could be a big market mover, if you have a transfer to make the keeping in touch with our team is the best way to maximise your position. For more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk.

Thank you for reading and I look forward to hearing from you.