People look at currency as if it were a stock and assume a strong currency is bullish and a weak currency is bearish. This may be for capital movement, but economically, it is opposite. Strong currency reduces exports and weaker currency results in more exports.
M.Armstrong.
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
These numbers are notoriously erratic, so although the market will pare their rate cut expectations, lets wait until we see next months & see if there are revisions or a reversal etc. You just need to look at the numbers of Kiwis returning. Net migration has dropped from around 35k p.a. to 2k p.a.
Its probably an exaggerated sample, however its a reasonable indication of the issues around employment in Aussie.
NZD actually strengthened further overnight. I would suggest we will see a surge through parity & that will be the time to jump in & buy AUD.
Originally Posted by dingoNZ
A heck of a lot stronger! Seems every time 'parity' is mention the rate falls off a cliff
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
And we are back up to .9949, getting o so close to that magic 1:1 mark. Just wondering if this is the highest it has ever been. I like it for the novelty factor but my Aussie holdings sure are taking a pounding. Swings and roundabouts anyway, but it should not be long till we see parity if this keeps on going.
And we are back up to .9949, getting o so close to that magic 1:1 mark. Just wondering if this is the highest it has ever been. I like it for the novelty factor but my Aussie holdings sure are taking a pounding. Swings and roundabouts anyway, but it should not be long till we see parity if this keeps on going.
According to a RBNZ file it reached 1.007 on 18th October 1973. Did spend a bit of time just under the 1.00 mark but that is the only day it went over (on reported daily rates)
According to a RBNZ file it reached 1.007 on 18th October 1973. Did spend a bit of time just under the 1.00 mark but that is the only day it went over (on reported daily rates)
On the same date NZ$1 got US$1.48 and GBP0.605
Norman Kirk was PM
Cheers winner... before I was born I see.. that is interesting indeed, that we were at US $1.48 and to think in the 80's we were around the 40-50 cent mark vs the US (from memory)
Pretty sure with a rocket under the NZD we can beat that 42 year old record!
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