FX News

NZD/GBP (GBP/NZD) Conversion:

The New Zealand Dollar (NZD), British Pound (GBP) has been reasonably stable in early week trading, sticking around the 0.5160 (1.9380) areas, a big contrast to last week swings post the surprise rise to US Inflation. Risk sentiment this week is poor, investors look to be panicking with another round of large sell orders being hit. NZ GDP second quarter 2022 prints Thursday which is expected to come in at 0.6% down from first quarters 3.0% and put added pressure on the kiwi. The Bank of England’s (BoE) policy meeting and rate hike is also Thursday. The central bank is expected to vote 9-0 to raise rates from 1.0% to 1.25%. A retest of 0.5115 (1.9550) is on the cards, the 3-week daily low.

Current Level: 0.5164 (1.9364)
Resistance: 0.5230 (1.9670)
Support: 0.5085 (1.9130)
Last Weeks Range: 0.5402-0.5227 (1.9131-1.9600)

Previous ArticleNext Article