GBPNZD uptrend firmly entrenched, restest of 2023 highs likely near-term.
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Relief for New Zealand Dollar sellers might be in prospect in the second half of 2023 according to Westpac which has released forecasts showing a recovery against the British Pound.
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GBPNZD sees 2023 high close by, technical studies remain bullish, UK inflation and Bank of England pose two-way risk.
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Official data confirms the New Zealand economy entered recession at the turn of the year but the New Zealand Dollar remains well supported in the short term thanks to positive global investor senti…
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GBPNZD has unwound overbought conditions, but momentum remains positive on most timeframes. Watch NZ current account and GDP data this week, UK jobs and GDP data also pose key risks.
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BNZ expects confirmation next week that the New Zealand economy has entered a recession.
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The New Zealand Dollar has pared away some of its late May losses and could further undermine the bullish trend in GBP/NZD if the Kiwi economy comes across as more resilient than its UK counterpart…
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