As a fairly mixed week of trading for the New Zealand Dollar comes to a close the ‘Kiwi’ is poised to record a five-day decline of 0.9 per cent against a broadly stronger US Dollar.
However, while the commodity-driven currency softened against its British rival earlier in the week in response to an encouraging UK employment report, the New Zealand Dollar was able to recover losses against the Pound on Friday.
Although a report showed that UK retail sales advanced in November following the previous month’s decline, the Pound shed recent gains as a central bank official issued comments regarding the unlikelihood of an interest rate increase occurring in 2014.
Sterling then extended declines as a measure of UK consumer confidence unexpectedly dropped.
The GfK sentiment measure slid from -12 in November to -13 this month despite economists anticipating an increase to -11.
This lacklustre data was followed by another disappointing report detailing an increase in the UK’s budget deficit.
According to the figures the UK’s deficit widened to 16.5 billion Pounds from 15.6 billion Pounds in the same period of the previous year.
Meanwhile, the New Zealand Dollar was supported by the news that credit card spending in the region increased.
Card spending jumped by 3.5 per cent in November, month-on-month, following a decline of 0.5 per cent in October.
On the year spending increased by 6.9 per cent.
Next week pertinent data releases will be few and far between as much of the world enjoys festive celebrations.
That being said, New Zealand Dollar movement could occur as a result of New Zealand’s money supply report and Chinese industrial profits figures.
Current New Zealand Dollar (NZD) Exchange Rates:
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The New Zealand Dollar/US Dollar Exchange Rate is currently in the region of: 0.8162 <
The New Zealand Dollar /Euro Exchange Rate is currently in the region of: 0.6011>
The New Zealand Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.4998 <
The New Zealand Dollar /Australian Dollar Exchange Rate is currently in the region of: 0.9235 <
The US Dollar/ New Zealand Dollar Exchange Rate is currently in the region of: 1.2195 <
The Pound Sterling/New Zealand Dollar Exchange Rate is currently in the region of: 2.0010 >
The Euro/ New Zealand Dollar Exchange Rate is currently in the region of: 1.6717 >
The Australian Dollar/New Zealand Dollar Exchange Rate is currently in the region of: 1.0821 <
The Canadian Dollar/New Zealand Dollar Exchange Rate is currently in the region of: 1.1390 >
(Correct as of 11:00 GMT)
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