020 7898 0500The Australian and New Zealand dollars gained strength against sterling yesterday due to a number of figures, which indicated that their respective economies were expanding. New Zealand released its Commodity Price figures early hours yesterday; these were 0.4% compared to -2.3% previously which had a bullish effect on the currency against its rivals. This was shortly followed by Australian import and export figures, which showed no change in imports, but a significant improvement in exporting figures, which leapt into positive territory at 1%, compared to -5% previously. These figures, boosted by encouraging trade balance data from Australia, led to positive swings for the Australian and New Zealand dollars against sterling.
Today we expect little movement for both currencies as a result of domestic economic data. This means that they will largely be influenced by events elsewhere.
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