GBPNZD Analysis
GBPNZD has broken and retesting the higher low of the ascending channel in the 1-hour timeframe.
After the confirmation of downtrend movement. GBPNZD sell signal given.
GBPNZD has reached the take profit target successfully.
UK POUND: Wages growth remain a concern for UK Companies
UK Pound makes higher as GDP rate in the UK was higher number printed at 6.9%, and CPI data came at 3.2% in last month September.
The unemployment rate is at 4.7%, and the Bank of England may be ready to hikes rates of interest by the end of 2021 at least 15 basis points.
And GBP 895 billion Bonds purchases program is likely to end in March 2022, and tapering assets leads to Support for UK Pound.
The Brexit issue on Northern Ireland Protocol weighs on the UK and the Still no-compromise solution from the UK side.
In the UK, 90% of 1st dose vaccination completed in the UK and 80% of second Dose vaccination progressing, So Covid-19 remains less pressure on UK and Energy crisis makes worry for the UK as More European workers left after Brexit deal.
Now British companies want more workers in place of EU workers, but wages are higher to UK Employees when compared to EU Employees.
UK Government Furlough Schemes were Ended and So many Job Vacancies created for UK People.
New Zealand Dollar: RBNZ Deputy Governor speech
Reserve Bank of New Zealand Deputy Governor Bascand said that Housing prices and Covid-19 make more risks for New Zealand Economy.
We must ensure the regulatory of financial institutions and remain cautious as Covid-19 poses a higher risk.
New Zealand Housing market remains at a higher cautious level, and Institutions should avoid to overexposed to Housing and Business sector.
NZDUSD Ticked higher after US CPI data came at higher than expected.
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