Friday’s high: NZ$1.9405
Friday’s low: NZ$1.9282
Pound Strengthened by Tenreyro Comments
The Pound New Zealand Dollar exchange rate ended the session close to the week’s opening levels on Friday following some surprisingly hawkish comments from a Bank of England (BoE) policymaker.
Sterling sentiment ticked higher on Friday morning as Silvana Tenreyro suggested that Brexit did not necessarily mean that the BoE would stick by to its accommodative monetary policy and that a rate hike would remain on the table during the Brexit ‘era’.
Meanwhile, the New Zealand Dollar offered little resistance against the Pound’s advances on Friday following some slightly disappointing domestic trade figures.
NZD Outlook: Sterling to Strengthen on Housing Data?
Looking to the week ahead, the first piece of notable data this will be the release of Nationwide’s House Price figures on Tuesday, with an expected jump in prices in November likely to strengthen the appeal of the Pound.
However, Sterling may also be undermined on Tuesday by the publication of the BoE’s latest Financial Stability Report should the bank remain wary over the size of consumer debt.
Meanwhile, the New Zealand Dollar may also be impacted by the Reserve Bank of New Zealand’s (RBNZ) own Financial Stability Report should it suggest that the bank has concerns about the new government.
07:00 UK Nationwide Housing Prices Nov
07:00 UK BoE Financial Stability Report
20:00 NZ RBNZ Financial Stability Report
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