Last week’s high: NZ$1.9081
Last week’s low: NZ$1.8852
GBP/NZD Exchange Rate Ends Week Higher Despite Inflation and Sales Slowdown
The Pound advanced against the New Zealand Dollar last week despite some disappointing UK data.
Sterling was shaken when inflation reportedly slowed and retail sales were worse than expected, but hints from a Bank of England (BoE) policymaker that UK average earnings are likely to increase this year helped the Pound prove resilient.
Last week’s New Zealand Dollar losses, meanwhile, stemmed from a 2-year low in business confidence, which was blamed on uncertainty in the new government.
NZD Outlook: New Zealand Inflation Data Looming
The Pound could experience volatility on Wednesday when UK wage growth data is published.
If wage growth rises, reducing the pressure on UK consumers, the Pound could record broad-based gains.
The only notable NZ news this week will be inflation stats out on Wednesday. As slowing inflation would reduce the odds of the Reserve Bank of New Zealand (RBNZ) looking to increase interest rates at any time in the near future, a lower figure would weigh on NZD.
09:30 UK Claimant Count Change in Non-Farm Payrolls
09:30 UK Unemployment Rate
09:30 UK Average Earnings
21:30 NZ Inflation Rate
09:30 UK GDP Growth (Q4)
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