Gbpnzd news
You're looking for news related to the GBP/NZD currency pair!
Here are some recent news articles and updates that may be relevant:
Current Market Situation:
- The GBP/NZD currency pair is currently trading at around 1.93, with the British Pound (GBP) strengthening against the New Zealand Dollar (NZD).
- The pair has been trending upwards over the past few weeks, driven by a combination of factors including a weaker NZD and a more stable GBP.
Recent News and Events:
- UK Inflation Rate: The UK's Consumer Price Index (CPI) rose to 2.5% in January, exceeding expectations and sparking concerns about inflationary pressures. This could impact the Bank of England's (BoE) monetary policy decisions.
- New Zealand Economy: New Zealand's economy has been growing steadily, driven by a strong services sector and a rebound in dairy exports. However, the country is also facing challenges such as a widening trade deficit and rising household debt.
- Brexit Update: The UK and EU have agreed on a revised withdrawal agreement, which is expected to be voted on by the UK Parliament in the coming weeks. A "no-deal" Brexit remains a risk, which could impact the GBP/NZD pair.
- Interest Rate Expectations: The Reserve Bank of New Zealand (RBNZ) is expected to keep interest rates unchanged at its next meeting, while the BoE is seen as more likely to cut rates in the coming months.
Technical Analysis:
- The GBP/NZD pair is trading above its 50-day and 200-day moving averages, indicating a bullish trend.
- The Relative Strength Index (RSI) is currently above 60, suggesting that the pair may be overbought in the short term.
Forecasts and Predictions:
- Some analysts are predicting that the GBP/NZD pair could reach 1.95-2.00 in the coming weeks, driven by a stronger GBP and a weaker NZD.
- Others are cautioning that the pair may be due for a correction, given its recent strong rally.
Please note that currency markets are highly volatile and subject to sudden changes in sentiment. It's essential to stay informed and adapt to changing market conditions.