BER Currency News

BER Home/s

  1. News
  2. Market Updates
  3. New Zealand Dollar Bolstered by Upbeat Employment Figures

New Zealand Dollar Bolstered by Upbeat Employment Figures

Categories: AUD, CAD, EUR, GBP, Markets, News, NZD, USD
nzd-hero

Sterling


GBP/USD 1 Week Chart

The Pound (GBP) continued to trend higher against the majority of its peers on Tuesday as expectations for a rate hike from the Bank of England (BoE) later this week continued to bolster the UK currency.

However, Sterling may find its gains trimmed slightly later this morning with the release of the UK’s latest Manufacturing PMI as economists forecast that British factory activity will have slowed slightly last month.

Euro

The Pound Euro (GBP EUR) exchange rate struck a new three-month overnight yesterday as some weaker than expected inflation figures undermined otherwise upbeat Eurozone data.

Data released on Tuesday revealed that core inflation slumped from 1.1% to just 0.9% in October, putting it well below the European Central Bank’s target range of over 2%.

This soured investors on the single currency despite the bloc’s unemployment rate falling to its lowest levels since 2009 and third quarter GDP showing robust growth.

US Dollar

Sterling continued climbing against the US Dollar (USD) on Tuesday as investors became increasingly dovish towards the US currency following the news that a former Trump aide is being charged for colluding with the Russian state in last year’s election.

However, the ‘Greenback’ may recoup some of its losses later today if data shows that the US manufacturing sector continued expanding at a healthy pace in October.

Meanwhile the Federal Reserve will also hold its latest policy meeting later this evening and while the next rate hike is not expected to take place until next month, investors will be looking out for any indication that the current pace of tightening may continue in 2018.

Canadian Dollar

The Pound Canadian Dollar (GBP CAD) exchange rate surged by around half a cent on Tuesday, with the ‘Loonie’ beating a hasty retreat as Canada’s latest GDP figures showed that domestic growth slumped from 0% to -0.1% in August, with the data suggesting that the country will have seen little to no growth in the third quarter.

Australian Dollar

After climbing to new five-month high against the Australian Dollar (AUD) yesterday Sterling began to cede some ground overnight as the ‘Aussie’ was bolstered by rising commodity prices.

New Zealand Dollar


NZD/USD 1 Week Chart

After briefly climbing to a 17-month high on Tuesday, the Pound New Zealand Dollar (GBP NZD) exchange rate tumbled overnight as investors were impressed by a larger than expected fall in New Zealand’s unemployment rate, with it slipping from 4.8% to 4.6% in the third quarter.

TorFX Author: TorFX

"Our company's mission is to provide outstanding exchange rates, expert guidance and a simple, friendly service that people will want to recommend to others." – Jon Beddell (CEO). Contact TorFX for an FX Quote - UK & Europe - Australia & NZ.

You can get in touch with TorFx via email here or via the contact page.
Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product. Full Disclaimer

BER logo Best Exchange Rates - We make it Easy to Compare Exchange Rates & Fees of Banks and Currency Exchange & Payment Providers


Level 2, AMP Tower, 50 Bridge Street, Sydney, NSW 2000, Australia

Disclaimer | Copyright | Privacy Statement


DISCLAIMER

Best Exchange Rates is an information only service. By browsing on the website, using our comparison tools or FX provider referral service, you are asking Best Exchange Rates to provide you with information about currency exchange products & services from multiple financial institutions.

We will try to show you a range of products & services in response to your request for information. The search results do not include all providers and may not compare all features relevant to you. In giving you product information we are not making any suggestion or recommendation to you about a particular product.

If you decide to conduct foreign exchange you will deal directly with a financial institution, and not with Best Exchange Rates. Rates and product information should be confirmed with the relevant financial institution, see our terms of use for further details.

Best Exchange Rates may receive fees or other benefits in relation to activity on the Best Exchange Rates website. Best Exchange Rates may receive remuneration for vendor referral links. Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.

Read our Full Terms of Service



COPYRIGHT

This website and its contents are the copyright of BEST EXCHANGE RATES PTY LTD © 2009-17. All rights reserved.

Any redistribution or reproduction of part or all of the contents in any form is prohibited other than the following. You may print or download contents to a local hard disk for your personal and non-commercial use only. You may copy some extracts only to individual third parties for their personal use, but only if you acknowledge the website as the source of the material.

You may not, except with our express written permission, distribute or commercially exploit the content. You may not transmit it or store it on any other website or other form of electronic retrieval system.

For more details or request distribution right please contacxt us here.