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  • RBNZ Assistant Governor Dr John McDermott: Says NZD is overvalued

    From forexlive.com

    policies to encourage private sector savings, and to increase flexibility in the economy are the way to sustainably lower New Zealand’s real interest rates and take pressure off the exchange rate says “Would like to see a lower exchange rate” Says high terms of trade is aiding NZD strength High exchnage rate causes economic imbalances RBNZ Assistant Governor Dr John McDermott speaking in Wellington, about influences on the exchange rate.

start acting like its overvalued... do something..devalue
will this news push the NZD lower or higher?
not bad
I don't understand why market always interprets this statement as NZD supportive. It must be already priced in NZD current value, because it is obvious that NZD is overvalued. Furthermore RBNZ doesn't want NZD to be so high this is big signal to trigger NZD sells.
Ok fx-trader777 but we see the opposite
Look at your charts and trade what you see, not what you think. One of the hardest lessons learned of being a forex trader!
ok but you can't ignore the fundamentals
Ok how about GBP!!!!!
Quoting Zaatar
ok but you can't ignore the fundamentals
True. Have you studied the fibonacci sequence and applied it to your trading style? You will see very quickly that the fundamentals exist to fulfill the fibonaccis.
Quoting ibram.forex
Ok how about GBP!!!!!
GBP/JPY rose over 250 pips today. Amazing! It's due for a pull back soon, I will wait for this to occur before buying.
Quoting dbutton1990
GBP/JPY rose over 250 pips today. Amazing! It's due for a pull back soon, I will wait for this to occur before buying.
Anyone have resistance levels for this currency pair?
Quoting dbutton1990
GBP/JPY rose over 250 pips today. Amazing! It's due for a pull back soon, I will wait for this to occur before buying.
GBP/JPY over 280 pips...................

do you think is possible a pull back in 163 area on friday?

thanks
Quoting dbutton1990
Anyone have resistance levels for this currency pair?
http://www.actionforex.com/markets/p...2010040848154/
Quoting Zaatar
will this news push the NZD lower or higher?
lower at least should, rate cut should do it.
Quoting dbutton1990
Anyone have resistance levels for this currency pair?
dont sell that pair pount strong as hell jpy announced more easing so they are devaluating it
  • Post #16
  • Quote
  • Edited at 6:29pm Nov 21, 2013 6:24pm | Edited at 6:29pm
Quoting geomink
GBP/JPY over 280 pips...................

do you think is possible a pull back in 163 area on friday?

thanks
I would wait till the data comes out in the london session and go from there...being it hit r1 at 163.91, I would say to expect some kind of a pull back tomorrow. Don't take my word for it though, trade what you see, not what you think
One of the worst and most persistent wrong one liners peddled in the retail industry. Never stop thinking.


Quoting dbutton1990
Look at your charts and trade what you see, not what you think. One of the hardest lessons learned of being a forex trader!
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Quoting Zaatar
Ok fx-trader777 but we see the opposite
agree wit you
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GBP/JPY n euro/jpy why its getting higher n higher... what will happen?
Quoting Vladimir1987
dont sell that pair pount strong as hell jpy announced more easing so they are devaluating it
If they are so much interested in devaluating then why don't they just burn their currency. Poor Currency !!!
No need this news.. Very obvious when GU EU rise.. AU & NU drop.. Money flow..

This is the trend.. lol
RBNZ says NZD is overvalued. Yet the housing boom in Auckland is going ballistic, and RBNZ already said they are raising interest rates in 2014. The carry trade would make NZD even more overvalued.
Thanks a lot. I've got a lot of pips from this news.
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  • Story Stats
  • Posted: Nov 21, 2013 5:33pm
  • Submitted by:
     Newsstand
    Category: High Impact Breaking News
    Comments: 23  /  Views: 4,371