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When converting New Zealand dollars (NZD) to Great British Pounds (GBP), or GBP to NZD, by exchanging via Direct FX, you will save a significant amount of money. Our wholesale currency exchange rates for money transfers, are significantly more competitive than bank foreign exchange rates. Being Australasian based, we specialise in knowing what drives NZD and GBP currency conversion rates.
NZD to GBP Overview:Because of close historical ties, the
NZD to GBP exchange rate has always been closely watched. In recent times the NZD has outperformed the Pound Sterling to the surprise of many looking to convert GBP to NZD. Once the NZD GBP broke through heavy resistance at .4000 (GBP NZD support at 2.50), the way opened to a new range. With high migration between NZ and the UK and the money transfers that go with it, we have a strong focus and understanding of this exchange rate.
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Historical Ranges: |
1 year |
5 years |
10 years |
|
NZD/GBP |
.4438 - .5390 |
.3361 - .5390 |
.2846 - .5390 |
|
GBP/NZD |
1.8553 -2.2530 |
1.8553 -2.9753 |
1.8553 – 3.5137 |
Current Official Cash Rates:
Reserve Bank of New Zealand (RBNZ): 2.5% Bank of England (BoE): 0.5%
NZD GBP Weekly Updates: Back to FX Updates
Monday 14th May 2012 4:42 PM (NZT)
The downward momentum of the NZ dollar against the Pound Sterling waned last week. The substantial support at .4850 (2.0620 resistance) has held the market for the time being. Given the magnitude of the move from this pairing in the last month, further gains from the GBP should prove to be much harder fought. Today’s disappointing NZ retail sales numbers were of limited impact to the price action. The focus now comes from the UK in the form of the employment numbers and inflation report from the BOE on Wednesday. Current levels off good value buying of NZD with GBP on a risk/reward basis.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.4867 |
.4850 |
.5050 |
.4846 - .4927 |
|
GBP/NZD |
2.0547 |
1.9800 |
2.0620 |
2.0296 – 2.0636 |
Monday 7th May 2012 :42 PM (NZT)
The Pound Sterling continued its recent outperformance of the NZ dollar throughout the course of last week. The NZ employment numbers, whilst not as weak as the headline unemployment rate suggests, added to the downward momentum of the NZD. The BOE is focus of the week, with their monetary policy decision on Thursday. For those who have been patient and looking to buy NZ dollars with their GBP, current levels offer good value, especially when dollar cost averaging. Any kind of resurgence from the NZ dollar is likely to be limited, while the European environment remains uncertain.
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|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.4914 |
.4900 |
.5100 |
.4907 - .5049 |
|
GBP/NZD |
2.0350 |
1.9600 |
2.0408 |
1.9806 - 2.0379 |
Monday 30th April 2012 4:42 PM (NZT)
The recent pressure from the GBP on the NZ dollar remains in place. However, the momentum of the GBP appreciation has waned and the pair has found NZD support at the important psychological level of at .5000 (GBPNZD 2.000). In the UK we have various manufacturing, services, housing and construction numbers to be released which will be of limited impact. The NZ employment numbers on Thursday are the highlight of the domestic calendar, but also are unlikely to provide a material lead. Expect the general risk appetite to be the primary driver this week, which should lead to a fairly contained range. Current levels provide fairly good value buy of NZD with GBP.
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|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5048 |
.5000 |
.5200 |
.5009 - .5076 |
|
GBP/NZD |
1.9810 |
1.9231 |
2.0000 |
1.9700 - 1.9964 |
Monday 23rd April 2012 4:06 PM (NZT)
The GBP outperformed the NZD in what was almost one way appreciation for the entire last week. An apparent turn around on the inflation outlook in the UK from the BOE was quite a revelation, and will lead to some interesting periods over the coming months. Low Fonterra auction prices and benign NZ inflation data added to the weak NZD bias. Further gains from the current levels will no doubt be harder fought for the GBP. With little impact expected from the RBNZ at their monetary policy meeting on Thursday, the lead will more likely come from the UK. Preliminary GDP data is the primary focus on Tuesday with the market expecting a return to growth with a +.1% increase in activity.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5065 |
.5000 |
.5200 |
.5052 - .5205 |
|
GBP/NZD |
1.9743 |
1.9231 |
2.0000 |
1.9212 - 1.9794 |
Monday 16th April 2012 4:01 PM (NZT)
The NZD saw gains against the GBP last week as the GBP followed the EURO in moves lower. Risk aversion to start the week has again seen the pairing pushed below the .5200 (above 1.9230) level, and any further upside gains for the NZD will be harder fought from the current levels. Inflation numbers are the focus for the week, with UK inflation on Tuesday, followed by the NZ number on Thursday. BOE monetary policy meeting minutes on Wednesday will also be very closely watched.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5183 |
.5000 |
.5200 |
.5121 - .5214 |
|
GBP/NZD |
1.9493 |
1.9230 |
2.0000 |
1.9179 - 1.9527 |
Tuesday 10th April 2012 5:55 PM (NZT)
This pairing remains in its now familiar range its has been in for almost two months. The positive UK data kept the NZ dollar under control for the most part last week. The NZD saw periods of demand that were hard to pin down considering there was little in the way of economic data in New Zealand. This week will likely see further trading within the recent .5000/.5200 (19.230/2.000) range, with little data of real significance in the UK either. Dips below .5100 (above 1.9610) seem to draw out NZD demand, and provides an ongoing initial level of NZ dollar support.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5151 |
.5000 |
.5200 |
.5096 - .5183 |
|
GBP/NZD |
1.9413 |
1.9231 |
2.0000 |
1.9294 - 1.9623 |
Monday 2nd April 2012 5:11 PM (NZT)
This pair traded within a very contained range throughout the duration of last week. There was little significant economic data in either economy, but the GBP held subtle pressure over the NZ dollar. This week again sees a distinct lack of focus on the NZ dollar, but the data flow improves in the UK. There are manufacturing, housing, construction, and services numbers throughout the week to accompany the most likely unchanged Bank of England monetary policy decision on Thursday.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5126 |
.5000 |
.5200 |
.5103 - .5166 |
|
GBP/NZD |
1.9508 |
1.9231 |
2.0000 |
1.9357 - 1.9596 |
Monday 26th March 2012 4:50 PM (NZT)
The Pound sterling put some good pressure on the NZ dollar for much of last week, before the NZD took back some of its losses late in the piece. Stronger than expected inflationary pressure in the UK, coupled with weak Chinese manufacturing numbers enabled the GBP appreciation. The weaker than expected UK retail sales numbers saw the GBP give up ground towards the end of the week. With little in the way of top tier economic data in either economy this week, expect a smaller, more contained range. The lead will come from the wider market appetite for risk, with the NZ dollar out performing in times of positive sentiment. Consolidation below .5100 (above GBPNZD 1.9600), will be the initial target for those looking for the GBP to outperform.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5147 |
.5100 |
.5300 |
.5082 - .5221 |
|
GBP/NZD |
1.9429 |
1.8868 |
1.9600 |
1.9153 - 1.9677 |
Monday 19th March 2012 4:10 PM (NZT)
This pairing also remains in its recently familiar range. The NZD managed to recover from what was some intense pressure at times, but breaking new ground from the current lofty levels remains a hard task. Support at .5150 (resistance 1.9325) remains the key level in the short term. It is a busy week for economic data for this pair. UK inflation on Tuesday will be closely watched, as will the BOE monetary policy meeting minutes and annual Budget release on Wednesday. In NZ, current account numbers Wednesday and GDP on Thursday are the key, but the NZ data is unlikely to push the pair to any new range.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5215 |
.5150 |
.5350 |
.5146 - .5248 |
|
GBP/NZD |
1.9175 |
1.8700 |
1.9325 |
1.8818 - 1.9143 |
Monday 12th March 2012 4:05 PM (NZT)
The NZD initially gave up ground against the Pound Sterling last week. The NZD under performance came on the back of Chinese officials making a downward revision of growth expectations for 2012. The NZD weakness proved to be short lived, as the global risk aversion subsided, the NZD took back much of its lost ground. But having consolidated below recent support at .5250 (above resistance 1.9050), the way is still open for further NZD weakness. UK employment numbers on Wednesday will be the focus for the week’s economic data.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5221 |
.5050 |
.5250 |
.5127 - .5247 |
|
GBP/NZD |
1.9153 |
1.9050 |
1.9800 |
1.9058 - 1.9504 |
Monday 5th March 2012 3:35 PM (NZT)
This pair remains in its recent range, albeit the NZD under some pressure from the potentially resurgent GBP. Expect both central banks to leave monetary policy unchanged at their respective meetings this week. Even at current levels, which are close to five week NZD lows, the GBP remains good value buying. Services and housing numbers in the UK on Monday and Tuesday will also be watched, as the economic data becomes very important to the BOE decisions going forward. Positive numbers will push the pair to investigate the .5175 levels (GBPNZD 1.9325).
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5238 |
.5175 |
.5375 |
.5224 - .5314 |
|
GBP/NZD |
1.9091 |
1.8600 |
1.9325 |
1.8818 - 1.9143 |
Monday 27th February 2012 4:15 PM (NZT)
This pairing remains stuck in the recent range. Last week saw a very small range for most of the week, with both the high and low being set in the offshore session on Friday. The absence of top tier data releases continues this week. The NZ focus comes from the NBNZ business confidence numbers on Wednesday. In the UK manufacturing and construction numbers on Thursday and Friday respectively provides the lead. Expect further range trading from this pair this week. Current levels still represent good value buying of GBP from a historical perspective.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5261 |
.5175 |
.5375 |
.5250 - .5329 |
|
GBP/NZD |
1.9007 |
1.8600 |
1.9325 |
1.8765 - 1.9047 |
Monday 20th February 2012 5:15 PM (NZT)
The NZD continues to remain at elevated levels against the GBP. Both economies saw much better than expected retail sales data last week, which is encouraging for the coming quarters. Should the likelihood of further QE from the BOE decrease in the coming weeks, the GBP may see a pickup in demand. A pickup in demand would see the GBP take back some of its recently lost ground against the NZD. The spike higher from the NZD was short lived and pairing is back in more familiar territory to start this week. The focus for the pair this week will be based in the UK, with the BOE monetary policy meeting minutes on Wednesday, ahead of revised GDP numbers on Friday. As last week proved, further ground higher from the NZD will prove to be hard fought from current levels.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5301 |
.5175 |
.5375 |
.5239 - .5364 |
|
GBP/NZD |
1.8864 |
1.8600 |
1.9325 |
1.8643 - 1.9115 |
Monday 13th February 2012 5:15 PM (NZT)
The NZ dollar has lost its upward momentum against the GBP. Last week’s increase in QE was already built in by the market and further upside through the NZDGBP .5300 level (GBPNZD 1.8860), should prove to be hard work in the short term for the NZ dollar. Better than expected UK manufacturing and housing numbers helped counter the NZD’s recent upside momentum. This week coming sees the focus in the UK for the most part, with inflation numbers Tuesday, the BOE quarterly Inflation Report Wednesday and retail sales numbers on Friday. In NZ, we have just the 4th quarter retail sales numbers on Wednesday as the focus.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5277 |
.5100 |
.5300 |
.5232 - .5296 |
|
GBP/NZD |
1.8950 |
1.8870 |
1.9610 |
1.8880 - 1.9115 |
Monday 6th February 2012 5:15 PM (NZT)
The NZ dollar managed to make modest gains against the GBP last week. The continued global optimism enabled NZD demand to outpace the resurgent Pound Sterling. Better than expected manufacturing and services numbers in the UK have lowered the amount of further QE expected from the BOE on Thursday from 75 to 50 billion. The BOE monetary policy announcement, along with the NZ labour cost numbers on Tuesday, and quarterly employment numbers on Thursday, will provide the direction for the week. Further upside moves from the NZD would again be harder fought, from the lofty current levels.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5268 |
.5100 |
.5300 |
.5199 - .5303 |
|
GBP/NZD |
1.8982 |
1.8870 |
1.9610 |
1.8857 - 1.9235 |
Tuesday 31st January 2012 5:15 PM (NZT)
The NZD remains at high levels against the Pound Sterling. The appreciation has stalled somewhat, and any further progress from current levels would be hard fought by the NZ dollar. Talk about further QE from the BOE should be mostly factored in at current levels. There is little in the way of economic data to effect the domestic outlook in NZ this week, but employment numbers on Tuesday next week will be closely watched. In the UK, an array of numbers towards the end of the week will provide further insight, but next week’s Thursday BOE monetary policy announcement remains the focus in the short term.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5233 |
.5075 |
.5275 |
.5157 - .5254 |
|
GBP/NZD |
1.9109 |
1.8960 |
1.9700 |
1.9033 - 1.9391 |
Monday 19th December 2011 5:40 PM (NZT)
The NZD dollar saw initial weakness against the Pound Sterling last week. The recovery from the lows was solid, and this week opens at mid range levels of the last six weeks or so. The NZ GDP numbers on Thursday will be the focus for the week. Also closely watched will be the BOE monetary policy meeting minutes on Wednesday. Any further moves down through the support at .4750 will be harder fought, as there will be increasing demand from those who have been patient, when the pairing consolidated over .5000 (GBPNZD under 2.0000).
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.4898 |
.4750 |
.4950 |
.4826 - .4952 |
|
GBP/NZD |
2.0416 |
2.0200 |
2.1050 |
2.0194 - 2.0721 |
Monday 12th December 2011 5:40 PM (NZT)
The New Zealand dollar versus the Pound Sterling traded a relatively small range for most of last week. The low Chinese inflation data saw the NZ dollar weaken against the GBP, but the EU summit and subsequent intergovernmental agreement steadied investor nerves for growth assets, and the NZD ground back to regain some of its lost ground. This week sees no NZ economic data due for release so the focus will be in the UK. Inflation numbers on Tuesday come ahead of retail sales numbers on Thursday. If the post EU summit positive sentiment continues, the NZ should find support on any weakness.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.4942 |
.4900 |
.5100 |
.4902 - .50009 |
|
GBP/NZD |
2.0235 |
1.9600 |
2.0400 |
1.9964 - 2.0400 |
Monday 5th December 2011 5:25 PM (NZT)
The NZD outperformed the Pound Sterling throughout the course of last week. The return of the risk appetite was initially provided by an ill founded rumour that the IMF would provide funding to Italy. Adding to the risk appetite was the BOE inspired central bank coordination to provide increased US dollar funding lines to stressed banks. This week sees the pair start close to significant GBP support levels, and progress from here should be more hard fought for the NZ dollar. Both central banks meet to announce monetary policy on Thursday, but expect no change from either. The RBNZ starts proceedings, and their monetary policy statement will be closely watched.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.4990 |
.4825 |
.5025 |
.4852 - .4996 |
|
GBP/NZD |
2.0040 |
1.9900 |
2.0725 |
2.002 - 2.0610 |
Monday 28th November 2011 5:25 PM (NZT)
This pair was relative stable last week, spending the majority of the time in the .4750 - .4790 (GBPNZD 2.0877 - 2.1053) range. The pair opened higher today, as speculation of an IMF funding package for Italy sooths investor concerns and the risk aversion wanes. There is an absence of top tier NZ economic data this week, so the primary driver will probably be the wider market sentiment, driven by events in Europe. In the UK we have various second tier data releases, but nothing that will dictate price action for the week. Whilst the focus remains on Europe, expect the GBP to perform reasonably well. UK debt was in high demand last week, which is ironic as talk of further QE from the BOE sees increasing momentum.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.4841 |
.4700 |
.4900 |
.4749 - .4849 |
|
GBP/NZD |
2.0657 |
2.0410 |
2.1280 |
2.0623 - 2.1057 |
Monday 21st November 2011 6:15 PM (NZT)
The NZD remained under pressure from the GBP throughout the course of last week. The market ignored the positive NZ retail sales number and succumbed to global risk aversion and a healthy supply of NZ dollars thanks to the maturity of the November 2011 NZ government bond. Progress lower by the NZD from current levels should prove to be somewhat slower. The BOE have revised down forecasts for both 2011 and 2012, and further QE is likely from them. However the risk averse sentiment in markets will continue and this should see the NZ dollar struggle to make any meaningful ground. Current levels are inviting for those that have been patiently waiting for some GBP strength.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.4807 |
.4700 |
.4900 |
.4774 - .4923 |
|
GBP/NZD |
2.0803 |
2.0410 |
2.1280 |
2.0313 - 2.0947 |
Monday 14th November 2011 5:15 PM (NZT)
The Pound Sterling continued its recent pressure on the NZ dollar last week. The GBP appreciation was grinding in nature and most of the ground it made was on Wednesday, when the wider market risk aversion hit its peak. Following the weekends leadership change in Italy, and today’s better than expected NZ retail sales numbers, the NZ dollar has managed to take back a little of the lost ground. For the remainder of the week the focus will be UK based for this pair. Tuesday sees the monthly inflation numbers released, the BOE inflation report Wednesday and retail sales on Thursday. Consolidation below .5000 (above GBPNZD 2.0000), is probably needed for a time, before investigation’s higher by the GBP can be made.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.4905 |
.4800 |
.5000 |
.4859 - .4981 |
|
GBP/NZD |
2.0387 |
2.0000 |
2.0830 |
2.0076 - 2.0580 |
Monday 7th November 2011 5:15 PM (NZT)
The NZD was under pressure from the Pound Sterling from the outset last week. With the Greek headlines causing significant risk aversion, it was not surprising to see the NZD being pushed down to test support levels. Progress from current levels will be harder fought for the GBP, with positive action finally being taken by Greek politicians. This coupled with the BOE monetary policy meeting this week, should see the NZD quietly take back some of the lost ground this week, as long as the wider market risk appetite does actually improve. Italy remains a significant risk in Europe, and may attract increasing attention.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.4965 |
.4900 |
.5100 |
.4911 - .5094 |
|
GBP/NZD |
2.0141 |
1.9600 |
2.0400 |
1.9631 - 2.0362 |
Monday 31st October 2011 4.50 PM (NZT)
This pair remains in fairly familiar territory in what was a fairly volatile week. Initial NZD weakness was accelerated by the lower than expected inflation numbers before the risk aversion reversal following the EU summit saw the NZD appreciate sharply towards the end of the week. The NZD attempted twice to leg higher again, but looks to have run out of steam at this stage. This week in New Zealand see the labour cost index on Tuesday followed by the 3
rd quarter employment numbers on Thursday. In the UK the primary focus will be on the preliminary 3
rd quarter GDP numbers release on Tuesday. These UK growth numbers are increasingly important as the current fiscal “austerity” plan from the UK government comes under mounting pressure. The pairing feels comfortable in the wider .4950 - .5150 (1.9420 - 2.0200) range for the time being.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5064 |
.4950 |
.5150 |
.4960 - .5118 |
|
GBP/NZD |
1.9747 |
1.9420 |
2.0200 |
1.9539 - 2.0161 |
Monday 17th October 2011 4.50 PM (NZT)
The NZ dollar continued its recent bounce back against the GBP last week. Buoyed by better global appetite for risk, its progress was almost one way. Further topside appreciation for the NZ dollar should prove harder fought from current levels. The lead will most likely come from the wider market risk appetite, in the absence of NZ economic data. In the UK this week, we have inflation, BOE meeting minutes and retail sales. These will be closely watched. Rumours of a pending UK credit downgrade have not helped appetite for the GBP.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5075 |
.5000 |
.5200 |
.4929 - .5092 |
|
GBP/NZD |
1.9705 |
1.9230 |
2.0000 |
1.9639 - 2.0288 |
Monday 10th October 2011 5.00 PM (NZT)
Last week the NZD took back a little of its recently lost ground against the GBP. Following the BOE increase to its quantitative easing program and the fall in risk aversion mid week, the NZD rose steadily. It finally gave back a little ground on Friday, in the wake of the credit downgrades for Italy and Spain. For the most part in the coming week, the lead will come from the wider market appetite for risk. Economic data of note in the UK comes in the form of manufacturing numbers on Tuesday, then unemployment benefit claim numbers Wednesday. If we again see risk aversion increase, investigations lower through the initial support at .4850 (2.0620 resistance) are likely.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.4951 |
.4850 |
.5050 |
.4857 - .5039 |
|
GBP/NZD |
2.0198 |
1.9800 |
2.0620 |
1.9724 - 2.0538 |
Monday 3rd October 2011 5.10 PM (NZT)
The NZD saw renewed pressure from the Pound Sterling last week, as all growth assets such as the NZD lost ground. The double credit rating agency downgrade added to the pressure on the NZ dollar. Ironically, further quantitative easing from the BOE is a possibility on Thursday this week, at the BOE monetary policy announcement. If uncertainty in Europe continues to increase, expect the NZD to see further pressure. In NZ we have just the NZIER quarterly survey of business opinion due for release on Tuesday. Consolidation below .4950 (above GBPNZD 2.0200) remains the key to direction in the medium term. Current levels will start to look attractive for those looking to sell GBP and buy NZD when compared to .5250 (GBPNZD 1.9050) of just two weeks ago. The averaging of transfers by staggering at different levels, should be looked at when considering money transfers.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.4880 |
.4650 |
.4950 |
.4869 - .5070 |
|
GBP/NZD |
2.0491 |
2.0200 |
2.1505 |
1.9724 - 2.0538 |
Monday 26th September 2011 6.42 PM (NZT)
The risk off sentiment saw the NZD under pressure from the GBP in the latter half of last week. The disappointing 2
nd quarter NZ GDP started the NZD weakness and then the heightened risk aversion provided the follow through for the move lower. Many will be happy to see this pair move a little back towards historical averages. Expect progress from the GBP to be hard fought this week, should the market nerves settle a little. With little in the way of economic data in the UK this week, expect some mild NZ focus on the building and consumer sentiment data on Thursday. A break and consolidation below the .4950 support (2.0200 resistance) would indicate another downward leg.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.4976 |
.4950 |
.5150 |
.4991 - .5270 |
|
GBP/NZD |
2.0096 |
1.9420 |
2.0200 |
1.8975 - 2.004 |
Monday 19th September 2011 5.15 PM (NZT)
The NZD was relatively stable against the GBP for most of last week. The main move came on Friday as the US equity market posted its 5
th straight day of gains and dragged the NZD to set highs for the week. Expect the NZD to keep the pressure on in the absence of a trigger back to general market risk aversion. The focus for the week will start with the release of the BOE monetary policy meeting minutes on Wednesday, ahead of the 2
nd quarter NZ GDP numbers on Thursday. Given we are close to record highs for the NZD over the Pound Sterling, expect gains from current levels to be harder fought for the NZ dollar.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5243 |
.5075 |
.5275 |
.5132 - .5272 |
|
GBP/NZD |
1.9073 |
1.8950 |
1.9700 |
1.8968 - 1.9485 |
Monday 12th September 2011 4:55 PM (NZT)
The NZD was relatively stable against the GBP for much of last week. The NZD was boosted by the mostly positive AUD news, but its appreciation was hard fought amongst the waves of risk aversion. Ironically the “dovish” tones from the BOE have been countered by the markets shunning of growth assets like the NZD. Friday saw the NZD under renewed pressure and this has continued this week. The primary driver will again be the general market risk appetite with the GBP likely to outperform if European debt concerns escalate once again. The RBNZ cash rate announcement on Thursday will be watched, but expected to be no change. UK inflation and retail sales numbers on Tuesday and Thursday respectively will also garner attention, but will most likely have little material impact given the other big issues at play.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5154 |
.5050 |
.5200 |
.5135 - .5245 |
|
GBP/NZD |
1.9402 |
1.9230 |
1.9800 |
1.9066 - 1.9475 |
Monday 5th September 2011 6:05 PM (NZT)
The NZ dollar saw grinding appreciation against the Pound Sterling throughout last week, although it retreated from the highs in the wake of the US employment numbers on Friday night. The economic data in the UK remains soft and the prospect of this week’s BOE Monetary Policy announcement appears to have loomed large. Not helping the situation is the relatively close economic links between the UK and Europe, and the debt issues at play in Europe. In the absence of NZ economic data this week, the lead will come from the UK for the most part. The BOE takes center stage, and whilst no change is expected to the cash rate, there is a possibility that additional QE may come into play as the risks to the economy have increased of late. Expect the GBP to remain under pressure for the time being, albeit gains for the NZD from current levels look to be harder fought.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5217 |
.5150 |
.5350 |
.5128 - .5267 |
|
GBP/NZD |
1.9168 |
1.8690 |
1.9420 |
1.8986 - 1.9500 |
Monday 29th August 2011 6:35 PM (NZT)
The NZD saw grinding appreciation against the Pound Sterling throughout last week in what was a reversal of the previous week’s move. The appreciation was driven by a couple of factors. The better than expected Chinese and US economic data helped lift sentiment for the growth assets. Also the GBP was heavy against almost all currencies as it gave up ground after a couple of weeks of relative strength. There was also reported heavy selling of GBP against buying of EUR. This was rumoured to be early “end of month flows”, and affected GBP performance across the board. Early focus will be on NZ with building numbers Tuesday and business confidence on Wednesday. Thursday sees house price, and manufacturing numbers in the UK, with monthly construction statistics released on Friday.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/GBP |
.5155 |
.5025 |
.5225 |
.4948 - .5157 |
|
GBP/NZD |
1.9398 |
1.9140 |
19900 |
1.9391 - 2.0210 |
