GBP NZD Forecast: UK Business Confidence Hits Sterling Exchange Rates

GBP NZD Forecast: UK Business Confidence Hits Sterling Exchange Rates

The considerable drop in confidence amongst business leaders across the UK as reported by Lloyd’s during yesterday afternoon’s trading has seen the pound weaker against it’s commodity-based counterparts, the New Zealand Dollar included. The Kiwi has managed to chip away at sterling which was forced to retreat from the multi-year highs we saw last week with GBPNZD falling down to the 2.07s from 2.10 when looking at interbank rates of exchange (GBP -1.35% against the NZD). Indeed, Lloyd’s business confidence index hit -3%, it’s...
GBPNZD Exchange Rate: New Zealand Dollar Gains Over Sterling as Coronavirus Cases Dwindle

GBPNZD Exchange Rate: New Zealand Dollar Gains Over Sterling as Coronavirus Cases Dwindle

The New Zealand Dollar has made some significant gains against the Pound due to large drop in coronavirus cases and a very successful containment problem. This gives the New Zealand economy a good chance to get back on its feet. The New Zealand Dollar is usually considered one of the riskier currencies, but in current circumstances it is faring well. Sterling is not the destination of choice in times of global economic uncertainty due to the difference in the amount we import compared to...
Pound to New Zealand Dollar Forecast: RBNZ Governor Orr signals, “We are ready to act further”

New Zealand Dollar: NZ Dollar Freefalls in Asian Markets as Panic Sell-off Continues

Heading towards the end of the trading week, the story remains much of the same for New Zealand. The NZ dollar sank as much as five US cents over the past 24 hours as panic selling and a flock to USD took place with futures market pointing to yet another sell-off on Wall Street. Against the British pound, NZD fell from 49.19 to 48.05. Investors continue to fret at the domestic currency now sits at levels unseen since the depths of the global financial...
GBPNZD Exchange Rate: New Zealand Dollar Gains Over Sterling as Coronavirus Cases Dwindle

New Zealand Dollar: NZD Falls as Central Banks Slash Rates to Fight Coronavirus Damage

The New Zealand dollar remains under heavy pressure moving into the new trading week. With the coronavirus still the number one priority in world news, NZD traders are struggling to see the light at the end of the tunnel for the struggling risk-correlated currency. Monday’s Asian trading session saw the NZ dollar fall against the greenback but gained against the Australian dollar after a very volatile day after being shifted at nearly every angle by unexpected local and offshore central bank moves aimed at...
Pound to New Zealand Dollar Forecast: RBNZ Governor Orr signals, “We are ready to act further”

Pound to New Zealand Dollar Forecast: RBNZ Governor Orr signals, “We are ready to...

Following the Bank of England’s (BoE’s) emergency move to cut rates to an all-time low of 0.1% and £200bn quantitative easing package, the Reserve Bank of New Zealand (RBNZ) Governor, Adrian Orr penned an article for the Sunday Star Times newspaper over the weekend, saying “we are ready to act further, with more firepower in reserve to keep the financial taps turned on.” “Some people will lose their jobs, some firms will go out of business, while other businesses will thrive over time and new...
How Has China Helped to Boost the NZD?

New Zealand Dollar: How Has China Helped to Boost the NZD?

New Zealand Dollar Gains After China Lifts US Tariffs Global Growth Worries Remain but Could Reduce If Coronavirus Vaccine Is Created NZD Waits on Reserve Bank of New Zealand Decision The New Zealand dollar (NZD) has found support this week after actions taken by China. With China being one of the NZD’s largest traders, actions taken by the second largest economy in the world has influence on the shift of the currency. China announced a decision to cut tariffs on more than 1,500 US...
New Zealand Dollar: NZD Falls on Declaration of Pandemic and Europe Travel Ban

Appetite for ‘Kiwi’ Slips as Coronavirus Weighs on Risk-Averse NZD

NZD continues to be threatened by the coronavirus disease. Following the initial outbreak, the risk-sensitive currency dropped out of favour with investors as the Chinese economy took a hit. Being so closely linked with Chinese trade, the New Zealand dollar plummeted, leading the way for others like CAD and AUD to follow. With NZD trading lower, currencies like GBP have managed to edge over it in their exchange rate pairings. Meanwhile, Wednesday’s Reserve Bank of New Zealand’s hawkish policy outlook saw NZD rise but...
The Kiwi dollar and the pound rise on better news

British Politics and the influence on the New Zealand Dollar

The Pound has once again come under a lot of pressure caused by the politics in the UK. Over the weekend Brexit Secretary David Davis handed in his resignation and this was followed by Foreign Secretary Boris Johnson yesterday afternoon. Following the Chequers meeting over the weekend, which was meant to galvanize the Conservatives in their attempt to sort out what will happen with the Brexit talks going forward, both announcements have caused the Pound to wobble. Since the weekend, the Pound has dropped by 2...
4-Year High Targeted Amid COVID-19 Fears

New Zealand dollar strengthens across the board

Throughout yesterdays trading session risk appetite returned to the market and commodity currencies including the New Zealand dollar benefited. President Xi Jingping of China gave a speech at the annual Boao Forum and explained that China want to open up to world and relax some tariffs making worldwide trade easier. In addition the key message of the speech was that he avoided any negative rhetoric toward Donald Trump and the US, leading investors to believe that the trade wars could be coming to an...

Kiwi dollar slightly weaker as GDP fails to promote rate hike expectations…

With the Reserve Bank of New Zealand in a fairly neutral state of late as markets try to anticipate their next move, will it be higher or lower on their interest rate? Yesterday's GDP (Gross Domestic Product) data showed some positive trends with 2.7% growth as expected, and 0.5% for the QoQ (quarter on quarter) growth. Expectations for the future now provide some platform for a further hike in the much longer term but ultimately with GDP lower than the previous 2.9% and 0.6% expected,...