Hope is not a strategy. I’m going with my gut on this one.
Printable View
$Kiwi falling out of bed is really going to help exporters like ATM. Could we see the Kiwi test 60 cents U.S. over the next year ?
Is this relevant in anyway?
Fonterra - today
https://www.anzsecurities.co.nz/Dire...spx?id=4797696Quote:
Our forecast performance is not where we expected it would be. While the numbers are not finalised, our margins were
less than we forecasted right across our global Ingredients and Consumer and Foodservice businesses."
I totally agree. I was looking at the long term chart this morning for NZD/USD and you could easily see it reaching 62c. I think it might go lower than 60c. We forget in October 2000, it was 39c.
For what its worth, on the monthly chart, the 50 month MA is about to cross the 200 month MA. I have no idea what you call that but it looks bearish haha.
A positive finish to the week after all the downward pressure.