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Posted October 15th, 2015 by Charles Purdy

Renewed vigour for economies in Asia-Pacific?

The Singapore and New Zealand dollars surged against their US counterpart, gaining 1.1% on the US dollar as both nations’ national banks signified their willingness to stimulate the economy. These gains actually lifted the Singapore dollar to its strongest level for four years. Yet, despite this recovery, the Royal Bank of New Zealand is still expected to further reduce the cash interest rate later this month.

At the same time, Consumer Confidence figures rose in Australia for the first time in two months, as optimism surround Malcolm Turnbull’s rise to the prime ministership.

In contrast, both consumer and producer inflation in China fell on Wednesday, citing worries that there is more bad news to come for China. While producer inflation posted yet another negative figure, consumer inflation has been slowly declining over the last couple of months, as the Chinese economy continues to struggle.

Are you looking to buy or sell currencies? With considerable activity in the commodity currencies in particular, contact your trader now for live rates, news and currency purchasing strategies.

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Posted July 30th, 2015 by Charles Purdy

Strength for the South African rand as the New Zealand dollar’s worries continue

Unemployment rates in South Africa were released on Wednesday, beating expectations with a more positive outcome – strengthening the Rand.

In New Zealand, on the other hand, there has been continued volatility – due to the comments made by Reserve Bank of New Zealand member Wheeler, who stated that further dollar weakness was necessary, but the economy was not weak enough to warrant large interest rate cuts.

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Posted June 25th, 2015 by Charles Purdy

New Zealand dollar regains some ground

Yesterday the New Zealand dollar hit a weekly high against sterling as it clawed back 1% after losing ground all week. Today sees the release of trade balance data from the country, which is predicted to be substantially worse than last month’s.

Bank of Japan monetary policy meeting minutes were released early yesterday and a day of fluctuations followed as the Yen weakened until 8.00 and then regained all lost ground. There is nothing of note out for yen today in terms of economic data.

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Posted June 12th, 2015 by Charles Purdy

Rate cut hits New Zealand dollar

The main story of the week has been the fall of the New Zealand dollar following the surprise cut in New Zealand’s interest rates by 0.25% to 3.25%. Weakening demand, low inflation were the drivers for this cut and the New Zealand dollar has lost five cents against sterling since Thursday morning.

Also the Chinese Yuan has lost ground against sterling following worries over their economy and mirroring the movement of the US dollar.

Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.

Posted May 15th, 2015 by Charles Purdy

Strong New Zealand retail sales

The New Zealand dollar had a good day on Thursday, thanks to strong retail sales figures which gave the economy a boost. Statistics New Zealand reported figures 2.7% higher than the previous quarter’s figures, exceeding the expectations for a rise of 1.5%, and a higher increase quarter-on-quarter.

The southern hemisphere’s other major currency, the Australian dollar, also had a great day Thursday – particularly against the US dollar. By taking advantage of weaker than expected US retail sales figures, the Australian dollar rose to 3 month highs against its US counterpart.

Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.

Posted May 12th, 2015 by Charles Purdy

New Zealand starts the week poorly

  • Monday proved a weak start to the week for southern hemisphere currencies as the New Zealand dollar tumbled over 1%, reaching new two-month lows against the stronger US dollar. This was not due to specific weaknesses from New Zealand, but because support remains high for the American currency after Friday’s jobs reports showed a drop in unemployment and that 223,000 jobs were added.
  • The Australian dollar also suffered at the hands of the strong US currency. Despite data showing that Australian business confidence remained unchanged in April, the Australian currency still receded almost half a percent.

Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.

Posted April 30th, 2015 by Charles Purdy

Mixed reports from New Zealand

The New Zealand dollar had a mid-week stumble on Wednesday, when it fell lower against the US dollar. Statistics New Zealand reported that the country’s trade surplus had widened to NZ$631 million in March, compared to the NZ$50 February figure. On top of this, a separate report showed that the ANZ business confidence index fell away this month.

News was not so rosy for the US dollar against its closer neighbour, with the Canadian currency reaching new three month highs. Markets were eyeing the upcoming Federal Reserve policy statement, as experts are eager to see the reaction following news that the US economy grew less than expected last quarter.

Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.

Posted April 28th, 2015 by Charles Purdy

Eyes on Australian central bank meeting

  • Investors looked ahead to the more exciting end of the week after a fairly dry day of data on Monday. However, the Australian dollar still maintained its month-long highs against the US dollar as the expectation weighs heavily on central bank Governor Glenn Steven’s scheduled speech today.
  • Australian is not the only country with key central bank meetings this week as the Central Banks of both Japan and New Zealand meetings will be in the spotlight. The outcome in Japan will be of particular interest, due to the slowness of the Japanese economy.

Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.

Posted April 21st, 2015 by Charles Purdy

New Zealand dollar jumps despite poor data

Monday was an interesting day for the New Zealand dollar as it crept to near three month highs against the US dollar, despite the release of a less than impressive inflation report which showed that New Zealand’s Consumer Price Index had dropped 0.3% in the first quarter – a slight larger downturn than expected. However, with the US currency remaining steady, the New Zealand dollar was able to hold its strong position and start the week well.

The People’s Bank of China cut its reserve requirement by a full percentage point to 18.5% from 19.5%, the second cut in two months; this added more liquidity to the world’s second-biggest economy in order to help spur bank lending.

Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.

Posted April 21st, 2015 by Charles Purdy

New Zealand dollar jumps despite poor data

Monday was an interesting day for the New Zealand dollar as it crept to near three month highs against the US dollar, despite the release of a less than impressive inflation report which showed that New Zealand’s Consumer Price Index had dropped 0.3% in the first quarter – a slight larger downturn than expected. However, with the US currency remaining steady, the New Zealand dollar was able to hold its strong position and start the week well.

The People’s Bank of China cut its reserve requirement by a full percentage point to 18.5% from 19.5%, the second cut in two months; this added more liquidity to the world’s second-biggest economy in order to help spur bank lending.

Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.

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