GBP

FX News

AUD/GBP Transfer

The Australian Dollar (AUD), British Pound (GBP) cross is still firmly bouncing around within recent ranges and has done so since late September. Into Tuesday the Aussie has improved, trading around the 0.5230 (1.9120) area off 0.5210 (1.9190). On the calendar this week we have Australian employment data and later the Bank of England official cash rate- expected to remain unchanged at 5.25%.

The current interbank midrate is: AUDGBP 0.5226 GBPAUD 1.9135

The interbank range this week has been: AUDGBP 0.5211- 0.5245 GBPAUD 1.9064- 1.9187

FX News

NZD/USD Transfer

The New Zealand Dollar (NZD) underperformed towards the end of the week against the US Dollar (USD) falling to 0.6110 levels as strong US data printed. Into Tuesday morning trade we have seen a small perk up in the kiwi to 0.6130 but topside this week could be tough going. We will get a look at US CPI tomorrow, predicted to dip lower from 3.2% to 3.1%. Anything around 3.2% will almost certainly set the scene for another round of interest rate hikes in order to bring down inflation to Fed target levels. Markets however would love to see a decent fall to bring forward rate cuts forecast for third quarter 2024.

The current interbank midrate is: NZDUSD 0.6120

The interbank range this week has been: NZDUSD 0.6104- 0.6131

 

FX News

NZD/GBP Transfer

The New Zealand Dollar (NZD) extended its decline from 0.4925 (2.0300) Friday against the British Pound (GBP) reaching 0.4860 (2.0570) in late Monday trading. A pullback in risk sentiment was the main reason amid weaker than expected NZ September Manufacturing data. Despite UK inflation outlook being downgraded the GBP still managed to make gains on the kiwi. Into Tuesday we have seen the NZD bounce back post buoyant overnight equities. This week’s docket has NZ GDP and the Bank of England cash rate expected to remain at 5.25%

The current interbank midrate is: NZDGBP 0.4874 GBPNZD 2.0517

The interbank range this week has been: NZDGBP 0.4860- 0.4887 GBPNZD 2.0461- 2.0576

 

FX News

NZD/AUD Transfer

Higher lows followed by higher highs in December continue to dominate the chart in the Australian Dollar (AUD), New Zealand Dollar (NZD) cross. The bull trend from late last week’s 0.9300 level to 0.9340 early this morning could signal further upside for the kiwi. NZ GDP prints Thursday for the third quarter ending September 30 and should highlight modest growth in the economy (0.2%) However, by removing migration the economy is expected to contract over the next 12 months. Aussie unemployment is predicted to increase slightly off 3.7% Thursday.

The current interbank midrate is: NZDAUD 0.9315 AUDNZD 1.0724

The interbank range this week has been: NZDAUD 0.9306- 0.9339 AUDNZD 1.0707- 1.0745

FX News

AUD/GBP Transfer

The Australian Cash Rate remained unchanged at 4.35% Tuesday rallying the British Pound (GBP) to 0.5190 (1.9270) post the release, the RBA saying they still see room to hike at a later date if inflation and jobs data print particularly poor. The board saying bringing back inflation to the target range of 2-3% was looking like taking longer than anticipated. Aussie GDP q/q printed at 0.2% vs 0.5% forecast Wednesday sending the Aussie lower to 0.5200 (1.9220) briefly before reversing again to clock 0.5250 (1.9050) early this morning. Next week’s Bank of England cash rate release is insight with predictions the central bank will retain their stance at 5.25% and unwind some of the recent rhetoric around “higher for longer”.

The current interbank midrate is: AUDGBP 0.5238 GBPAUD 1.9091

The interbank range this week has been: AUDGBP 0.5190- 0.5271 GBPAUD 1.8970- 1.9266

FX News

NZD/GBP Transfer

The New Zealand Dollar (NZD) has bounced back from 0.4855 (2.0590) early in the week against the British Pound (GBP) to reach 0.4910 (2.0360) this morning in light trade. UK PMI data saw a downtick of output for the third consecutive quarter in November led by a fall in residential buildings putting pressure on the GBP post release. Markets are starting to price in rate cuts – 3 by the end of 2024 depending on how inflation performs. Next week we have NZ 3rd quarter GDP before the Bank of England’s cash rate announcement.

The current interbank midrate is: NZDGBP 0.4896 GBPNZD 2.0424

The interbank range this week has been: NZDGBP 0.4856- 0.4911 GBPNZD 2.0361- 2.0592

FX News

NZD/USD Transfer

Risk assets this week have dragged on the New Zealand Dollar (NZD) the currency falling back to 0.6115 against the US Dollar (USD) on renewed greenback demand. Central banks around the globe are starting to talk more about easing policy and dropping rates sooner rather than later. The recent rhetoric around “higher for longer” is now being questioned with the first rate cut now predicted by the RBNZ by August 2024. Non-Farm Payroll prints tonight expected to come in light with unemployment to tick higher from 3.9%. Technically the kiwi looks well capped at 0.6220 and should continue to the downside. A December close below 0.6050 should signal further bearish price moves.

The current interbank midrate is: NZDUSD 0.6162

The interbank range this week has been: NZDUSD 0.6113- 0.6222

FX News

NZD/AUD Transfer

The New Zealand Dollar (NZD) extended moves north into Friday against the Australian Dollar (AUD) clocking 0.9390 (1.0650) an 8-week high. The RBA left rates unchanged at 4.35% Tuesday as widely predicted after the central bank hiked in November. New governor Michelle Bullock saying progress to bring down inflation to their target 2-3% band has been slower than forecast. The RBA have no meeting planned in January; we would not expect a further hike at February’s meeting if 4th quarter inflation prints considerably lower than the current 5.4% in late January. Prices in the pair are back around the 0.9345 (1.0700) zone with a little Aussie support in play.

The current interbank midrate is: NZDAUD 0.9339 AUDNZD 1.0699

The interbank range this week has been: NZDAUD 0.9287- 0.9384 AUDNZD 1.0656- 1.0767

FX News

NZD/GBP Transfer

The New Zealand Dollar (NZD) has extended moves higher against the British Pound (GBP) Monday reaching 0.4900 (2.0400) before drifting back to 0.4885 (2.0470) this morning. UK house prices rose further than expected while UK manufacturing also came in hot, both strengthening the Pound for short periods. Governor Bailey speaks Thursday. On the chart the kiwi eyes 0.4930 (2.0285) the high of early October, the kiwi should be well supported on dips in the run up.

 

The current interbank midrate is: NZDGBP 0.4877 GBPNZD 2.0504

The interbank range this week has been: NZDGBP 0.4874- 0.4904 GBPNZD 2.0388- 2.0515

FX News

AUD/GBP Transfer

The Australian Dollar (AUD), British Pound (GBP) sits deep within recent ranges into Tuesday, falling back to 0.5240 (1.9080) off the open as markets await today’s RBA cash rate release. The Reserve Bank of Australia will keep their cash rate on hold later today at 4.35% with Governor Bullock remaining on alert about lingering inflation. She said recently these problems are localised not global. With recent PMI data showing a slowdown in the economy this should be reflected in the 3rd quarter data and 4th quarter CPI. We expect the Aussie to drift lower over the week.

The current interbank midrate is: AUDGBP 0.5240 GBPAUD 1.9083

The interbank range this week has been: AUDGBP 0.5238- 0.5271 GBPAUD 1.8971- 1.9090