Absolutely no respite for the NZD today and the bears have taken over control. NZD/USD is encountering waves of selling from multiple directions with long positions exiting en-masse.
I still […]
Most of the action is still in the flightless bird with stops triggered below .8590 in NZD/USD and the AUD/NZD cross trading above 1.1000.
The number was slightly above expectations and the market seems happy to try buying the AUD. AUD/NZD got a boost after the RBNZ this morning and there are big […]
The monthly trade data for June has just been released and it came in slightly better than expected. Despite this, the NZD hasn’t shown any propensity to bounce.
I’m still […]
- Iron ore prices have been falling in recent months but export volumes have been increasing with BHP Billiton announcing new record levels of production;
- Yesterday’s CPI data will keep the […]
- My macro view remains the same that the commodity currencies will stay strong whilst the big 3 will remain weak as they continue with QE;
- Interest rates in NZ remain […]
I think many people can make a very solid argument that the RBNZ should not have tightened this time either, but after the strong tone from the last meeting […]
- Industry research still suggests large inventories of milk powder in particular in China;
- Geo-political tensions in Eastern Europe and the Middle East will keep risk-sentiment nervous;
- The NZD is at close […]
- Very solid technical resistance now at 96.55;
- Short-term market sentiment seems to have swung in JPY favour;
- The RBA will continue to try and talk the AUD down;
- USD/JPY is in sideways […]
It looks unlikely that this level will be tested today unless of course the Chinese GDP data surprises significantly to the topside.
Hourly support levels start around .9330. Pretty hard […]
New Zealand Q2 CPI came in at +1.6% YoY, which is lower than market expectations at +1.8%. This may influence the interest rate debate over coming months but I’m […]
Positional adjustment ahead of some risk events was the main story overnight with the EUR making gains on the crosses particularly against the GBP. Lack of momentum is still […]
Previously strong support levels at 95.15 broke yesterday afternoon and we are now sitting right on this level again. If the market is long and nervous, these resistance levels […]
I know it’s silly to be talking about selling the AUD/NZD at these historically low levels but most indicators seem to be pointing lower.
- NZ interest rates are headed higher […]
Market had been expecting an addition of 12,000 jobs and a jobless rate of 5.9%
- The post-float highs from a few years back at .8842 are coming clearly into sight and this will give the market something to aim at today.
- AUD/NZD has decent chart […]
It looks like off-shore sellers, probably Japanese, are behind the fall in the NZD over the last hour or so. None of the local banks seem to know what’s […]