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Latest from WestPac on RBNZ statement

Once again, thanks to our hedge fund insider in the FXWW chatroom for posting the following information from WestPac.

The Reserve Bank of New Zealand increased the cash rate to 3.00%, as unanimously expected by economists and financial markets. In its statement, the RBNZ reiterated the main message that the OCR

Posted on - April 24th, 2014 11:28am (th14244UTC14 UTC2804UTC)|2 Comments

Levels to watch in the NZD crosses this morning

The NZD is still bouncing around after the RBNZ but the short-term bulls seem to have the upper hand for now. Levels to watch in the crosses are as follows:

  • NZD/JPY resistance at 88.55;
  • AUD/NZD reported bids at 1.0725/35;
  • No exact levels in GBP/NZD but I've seen two sell signals from professional traders

    Posted on - April 24th, 2014 8:48am (th14244UTC14 UTC4804UTC)|0 Comments

NZD pops up 25 pips after RBNZ decision and statement

As expected change in the base rate to 3.00% and the comment that inflationary pressures are increasing has caused the NZD/USD to pop up towards .8620. I still like the buy-dip play in AUD/NZD and am looking for entry levels near 1.0735.

Posted on - April 24th, 2014 8:05am (th14244UTC14 UTC0504UTC)|2 Comments

EUR/GBP still tracking higher post-BOE

The aforementioned stops above .8230 were easy pickings after the Monetary Policy Committee of the Bank of England delivered their latest. The big levels to watch in cable are 1.6760 on the downside, with stops tipped below there, and of course 1.6850 where barriers are touted.

Posted on - April 23rd, 2014 7:40pm (rd14234UTC14 UTC4004UTC)|0 Comments

EUR/USD: Totally at mercy of the crosses

I do not expect EUR/USD to move too far away from current levels over coming sessions. All the action will be in the crosses with pairs like EUR/AUD and EUR/GBP already leading the way today.

Posted on - April 23rd, 2014 6:58pm (rd14234UTC14 UTC5804UTC)|0 Comments

USD/CAD M&A activity

Our hedge fund insider posted this in the FXWW chat-room on Reuters:

We should keep an eye on this M/A deal – William Ackman partnering Quebec-based Valeant Pharmaceuticals to buy Allergan Inc. for about $46bn. The cash portion, we reckon is about $14.5bn. This is not a done deal as yet

Posted on - April 23rd, 2014 6:32pm (rd14234UTC14 UTC3204UTC)|0 Comments