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GBP/NZD Volatility Ahead on UK Wage and NZ Inflation Data

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.

Key Events

24th January

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

26th January

09:30 UK GDP Growth (Q4)

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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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