Interesting article here on what's driving the AUD. A few clues relevant to the NZD, given our close correlation to AUD.
http://www.businessspectator.com.au/...apt=commentary
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Interesting article here on what's driving the AUD. A few clues relevant to the NZD, given our close correlation to AUD.
http://www.businessspectator.com.au/...apt=commentary
From your businessspectator.com.au article.
We are not much better. Since 1974 NZ's current account has always been in the red, because even in good years any trade surplus is overwhelmed by the enormous interest and dividend payment.Quote:
For over three decades Australia has persistently run a current account deficit, averaging close to 4 per cent of GDP over the period.
NZD (&AUD) looking heavy, Will add to my shorts with a break of .8180 (apparently a few SL orders at that level)
Anyone else catching any of this?
The NZD is a resilient beast isn’t it. Particularly given EUR, AUD and Gold’s weakness (or USD strength; however you want to view it)
How’s everyone’s trading going? Any trade setup ideas out there?
7.3% unemployment rate, that’s a shocker NZ!!
NZD down almost 1c
Anybody having trouble logging into IG markets this morning?
New Zealanddollar could fall to a level not seen in about three years in the next few months.
I believe NZ dollar will go down sharply due to new development. It is overpriced by 45% against USD. During last couple of years it has appreciated by more than 50% against some Asian currencies. Now this cycle has reversed and NZD will go down not only against USD but also against some Asian currencies. I cannot understand reason behind appreciation of NZD. May be some carry traders including speculators must have parked their money in NZD. Now one by one currency players are unwinding their positions in both AUD and NZD. When everybody tries to take out of money from both AUD and NZD these currencies can tumble to the one of the lowest levels.
Now analysts including global banking analysts are revising their year endtarget and target in 2014 for NZD.
http://www.bloomberg.com/news/2013-0...urrencies.html
Wheeler’s Peashooter Finds Its Mark as Kiwi Slumps: Currencies
http://www.nzherald.co.nz/business/n...ectid=10889664
Skids go under kiwi dollar - may fall further
http://www.fxstreet.com/news/forex-n...1-91395e7ab788
NZD/USD continues bear trend
Lower NZD will benefit some sectors in the economy and NZ economy will become one of the strongest economies in the world in the long run.
In short NZD dollar has entered a multi-year bear cycle and the dollar(USD) has entered a multi-year bull cycle. However there can be dead cat bounce for NZD time to time. Intermediate trend for NZD is down now.
My ideas are not a recommendation to either buy or sell any security orcurrency. Please do your own research prior to making any investment decisions.Please note that I do not endorse or take responsibility for material in theabove hyper-linked sites.
http://www.nzherald.co.nz/business/n...ectid=10891827
Kiwi dollar drops sharply on GDP, Fed news