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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GBPNZD was overbought, consolidation likely, multi-week GBP upside still preferred.
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NZD strength is predicted near-term but NZ faces "day of reckoning" as current account and budget deficits linger.
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The Pound to New Zealand Dollar exchange rate extended its recent rally to some of its highest levels since the onset of the pandemic this week but the risk of a correction has risen alongsid…
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GBPNZD sees follow-through upside Thursday, 2023 highs at 2.0400 in contention.
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