GBP/NZD Live News

This page provides live coverage and news analysis on the GBP/NZD currency pair

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Sep. 29, 2022

GBP/NZD increased by 360 pips for the first time since Apr 13

Live - Updated 47 minutes ago.

After closing yesterday at 1.8986, GBP/NZD trades at 1.9346 today after making its biggest single-day jump of 360 pips (1.9%) since Apr 13.

GBP/NZD is currently trading at 1.9346 following the release of RBNZ Gov Orr speech data from the New Zealand.

Meanwhile, New Zealand ANZ Business Confidence (Sep) released today at 00:00 UTC with a figure of -36.7, while the previous figure was -47.8.

GBP/NZD made an initial breakout above its 50 day Simple Moving Average at 1.912, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of 1.9051 currently serving as resistance On the other hand, note that GBP/NZD's upper Bollinger band is at 1.937, this is a slight indication of a slowdown.

According to technical analysis, it looks as if GBP/NZD likely to continue pointing upward in the short term.

Other currencies are also rising as having closed the previous session at 1.4821, GBP/CAD is up 1.66% today to currently trade at around 1.5067. EUR/NZD added 1.16% to its value, now trading at 1.7183. USD/CAD is up 1.04%.

Positive indicators for GBP/NZD are expected going forward as as things stand, upcoming United Kingdom GDP data is projected to fall short of market expectations with newly published data of -0.1, following on from the preceding figure of 0.8. New data is set to be published tomorrow at 06:00 UTC. Tomorrow at 06:00 UTC data for United Kingdom GDP will be released, with an expected decline to 2.9% from the preceding figure of 8.7%.

Furthermore, the market is looking at United Kingdom Nationwide HPI (MoM) (Sep) is expected tomorrow at 06:00 UTC. United Kingdom Current Account (Q2) scheduled to come out tomorrow at 06:00 UTC.

GBP/NZD is now trading 0.99% away from its significant low of 1.88 first tested 4 days ago.

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Week to date

GBP/NZD shifts up to 1.9346 (a 0% gain) after closing the previous session at zero .

Trading week at a glance - GBP/NZD is up to 1.9346, after closing yesterday at zero. Overall, a 0% move or 19,346 pips this week. (Trade GBP/NZD with FXTM now).

At the same time, United Kingdom Manufacturing PMI came out at 48.5, while a consensus of analysts was expecting 47.5. United Kingdom Services PMI released Friday with a figure of 49.2, while the previous figure was 50.9. United Kingdom Composite PMI released Friday with a figure of 48.4, while the previous figure was 49.6. New Zealand ANZ Business Confidence (Sep) released today at 00:00 UTC with a figure of -36.7, while the previous figure was -47.8. United Kingdom CFTC GBP speculative net positions released Friday with a figure of -54,800, while the previous figure was -68,100.

Outlook for rest of the week: Positive indicators for GBP/NZD are expected going forward as as things stand, upcoming United Kingdom GDP data is projected to fall short of market expectations with newly published data of -0.1, following on from the preceding figure of 0.8. New data is set to be published tomorrow at 06:00 UTC. Projections for United Kingdom GDP are set for a continuation of decline with 2.9% while previous data was 8.7%; data will be released tomorrow at 06:00 UTC.

The market is looking forward to the release of new data: United Kingdom Services PMI is expected Wednesday.