Apparently the Aussie dropped against USD at the time of the release
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The rise today in NZD prob due to the Survey of Inflation Expectations which showed expectations of higher inflation than most thought
Not what I saw, was watching at the time. Aussie pretty much unchanged, Kiwi jumped.
Anyway, see the dairy price dropped along with other commodities overnight.
Payout from Fonterra now at $4.50, but that maybe under pressure.
On a similar note, Supermarket milk prices haven't changed ! Oh well I don't mind supporting our farmers. ;-)
Sorry mate for doubting you, just proves I shouldn't believe everything I read in the papers
However, the dollar plunged one-third of a cent to US79.60¢ – its lowest for a week – after the release of the Reserve Bank minutes.
http://www.smh.com.au/business/marke...19-gh4x11.html
Suppose it was the word plunged that attracted my attention
Its ok, I didn't take it that way. ;-)
The USD rallied generally overnight with commodities & ccys whacked.
Any thoughts on the Kiwi/Aussie cross anyone? I had a resting order to buy Kiwi against AUD that just got hit at 1.0785.
Cheers Daytr
I jobbed out last night for 3/4 of a cent profit & then reset entry level and now back in again.
I still think short term the Kiwi will strengthen against the Aussie.
I here on the radio...... on average NZ Dairy farmers will be in the red some 150k NZD this year ...now we could well see prices stay low for some time(or long term with so much worldwide production on stream $4-5 could well be the average) ...
Yep I agree JB & I think many have underestimated the hit to the NZ economy that is coming.
Still a little way off though I suspect.