Reserve Bank of New Zealand interest rate

andres del risco

Worldwide currencies to look out for


· USD continues to enjoy strength as people buy into it on risk aversion
· Analyst warn Eurozone debt concerns may limit the euro’s scope for gains
· EURUSD falls below 1.36 to hit a low of 1.3557 before recovering
· French banks come under fire as Greece faces default, Moody’s cut certain SocGen and Credit Agricole rating and say there is a high chance that BNP will need assistance.
· Agencies Moody’s and Fitch both agree that certain area of Spain are at risk, good chance this will put downward pressure on the overall rating
· A report I read this morning mentioned an article in the Times suggesting there is a chance that Germany may leave the euro.
· On CNBC yesterday, Norway came out on top of a list of countries least likely to face financial difficulties such as default, Switzerland came second.
· Australian Q2 CPI revised lower overnight, potentially could have an effect on growth forecasts.


· UK CPI inflation rate rises to 4.5%, the highest reading since September 2008
· Sterling falls vs dollar to nearly hit a 7 ½ month low of $1.5762
· RPI comes in at 5.2% beating the expectations of 5%
· Sterling falls to a level of €1.1529 after MPC member Adam Posen reiterates his stance on further QE following the CPI reading

Current Spot Rates (9.00am)
GBP 1.5744 1.1525 1.5400 1.5608 1.3884 8.5841 8.9092 12.2860 10.59 11.63 121.12
USD 1.3659 0.9782 0.9914 0.8819 5.4523 5.6588 7.80 6.73 7.39 76.930
EUR 0.7320 1.3362 1.3543 1.2047 7.4482 7.7303 10.66 9.19 10.09 105.092

Key Support and Resistance Levels
Support Resistance
GBPUSD 1.5631 1.5696 1.5739 1.5847 1.5912 1.5954
GBPEUR 1.1369 1.1440 1.1488 1.1609 1.1684 1.1732
EURUSD 1.3399 1.3478 1.3579 1.3760 1.3840 1.3941

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