The New Zealand Dollar is benefiting off the back of Aussie Dollar weakness at the moment. Investors and traders have been selling the Aussie Dollar as the trade war heats up between the US and China.
With Australia being an export heavy economy a trade war and slowdown to the global economy would hit the Australian economy heavily, and the financial markets are considering this which is why the currency is losing value.
At the same time the trade war talks are resulting in predictions of interest rates remaining low for longer due to the potential for adverse effects on the economy if the trade war heats up.
Later today there will be consumer confidence figures released by Westpac New Zealand. The figures will cover the 2nd quarter of this year and could hold the potential to move NZD rates. Then on Wednesday there will be GDP figures for New Zealand. The release comes out after hours so its worth registering your interest with us as we offer tools to help clients make transfers out of hours.
If you will be making a transaction involving the NZD it’s worth looking out for data releases involving the Chinese and Australian economies.
If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on [email protected] and I will endeavour to get back to you as soon as I can.