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: UK GDP came at higher Reading
UK GDP data released as higher as 6.9% versus 6.7% forecasted and just below July month rate of 8.8%.
Now UK Picture of GDP hinted the Expansion of Economy in a Good Way.
And International Monetary Fund’s said UK would achieve fast economic expansion in the G7 nation list.
However, Inflation rates are soaring high in the UK due to Energy prices soaring and Demand for Commodities like Petrol, Gas and Coal.
GDP outlook of UK shows Bank of England will raise interest rates by 0.25% from 0.10% by the end of this year.
UK Budget forecast
UK Government does not compromise with EU for Northern Ireland Protocol till day.
And UK Economy expansion in a faster manner when compared to European nations.
The energy crisis makes inflation higher in UK and EU, and rate hikes are more expected in the UK by the end of 2021 when compared to Europe.
Bank of England Governor Andrew Bailey stated that rate hikes are possible by the end of 2021 if the inflation rate fires more.
In October month Budget, the UK may add the Hike taxes for Businesses and Employees is possible and compensate tax revenues backlogs that occurred in the 2019-2021 Covid-19 crisis period.
New Zealand Dollar: Travel restrictions not lifted
New Zealand Dollar keeps higher as New Zealand PM Jacinda Ardern announced one more month lockdown extension for Auckland Main population city.
And Travel bans are still not been removed from New Zealand Government, and There will be one more rate hike in the next meeting by the end of 2021.
New Zealand Tourist Visits revenue slowdown by the lockdown of travel ban and restrictions from Outstations.
Australia allowed neighbouring nations to travel and outstation people to visit if Two doses of Vaccination were completed.
Now Covid-19 crisis slowdown and Surging Energy crisis in Global level.
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