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GBP/NZD could Struggle on BoE Stability Report

Yesterday’s high: NZ$1.9402

Yesterday’s low: NZ$1.9267

GBP/NZD Rate Tumbled on Budget Dissection

The Autumn Statement came under fire yesterday, leaving GBP exchange rates fluctuating.

The Pound ended up falling by -0.4% against the New Zealand Dollar, while seeing greater losses against its other regular peers.

Key issues included the estimate that the UK wage squeeze is here to stay, as well as OBR growth forecasts, which have been downgraded for every year up to 2021.

With little data to refer to, New Zealand Dollar traders instead looked to forecasts for future economic performance.

NZD fell earlier in the week on a recession warning, but a former Reserve Bank of New Zealand (RBNZ) economist, Michael Reddell, has dismissed these claims.

NZD Outlook: Uncertainty ahead for Pound Traders

With no high-profile UK data on the calendar today, investors are already looking ahead to a Bank of England (BoE) report out on Tuesday.

The Financial Stability Report looks at the UK financial sector, including banks and high-profile financial management companies.

If the BoE sees turbulence ahead as Brexit talks continue, the GBP/NZD exchange rate could drop.

Over in New Zealand, the RBNZ will be releasing its own stability report on Tuesday.

Any references to the impact of the change of government will be closely attended to.

Key Events

November 28th

09:30 UK Bank of England (BoE) Financial Stability Report

20:00 NZ Reserve Bank of New Zealand (RBNZ) Stability Report

November 29th

21:45 NZ Building Permits

November 30th

00:00 NZ Business Confidence

00:05 UK GfK Consumer Confidence

December 1st

09:30 UK Manufacturing PMI

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To keep up to date with the New Zealand Dollar, visit the NZD blog in our Currency News section.

Joe Mayhew

Senior Currency Broker
T: 01442 892 060

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