Trading NZD GDP today at 6.45 EST

After Cullen statement NZD drop around 100 pips and found support around 6550. But from yesterday NZD is going nowhere, just channelling. I think today's GDP and Building Permit should give direction to NZD. I will put this very simple. If both data doesn't conflict and goes on same direction NZD will move. Like if both data better than expected NZD should get strenth and vise versa. I will trade this very simply, based on data.

Please correct me if I am wrong and please put your opinion here.

Any charts for this? Having charts might give a better understanding on how this report moves the market. It might not even move, due to the that huge dive 2 days ago IF the numbers comes out badly for the currency. If its good, then who knows.

Yes that is right hunter101. Chart can help.I just found out only one link for chart. Link is below. Chart shows that NZD spike up and came back where it was. May be Burgerking or other expert technicians can help us to find out more charts or if anyone has charts, please post here.

http://z10.invisionfree.com/Historic...ost&id=2342023

Just to be safe, the NZD have been kinda wish-washy in the past few days. If there is a move, i would better fade rather than trade the news. I would see others opinions on this, but the fade is the best way from my understanding.

we are going to try out our new actuals release infrastructure, you guys will be the first to experience it

about 5 minutes before the release, you will see a link in the actual slot, that will bring you to the actual release page.

we did this so you dont have to refresh the homepage (which is crashing our server ), you can just refresh the release page. i will be interested in your comments on this after you see how it works...

That's an interesting feature, we'll give that a shot.

I think, I"m gonna sit this one out. Anyone plan on trading it?

And now we are sitting and hitting refresh on your homepage to get the link .

lol, old habits never change i guess.

WELLINGTON, Sept 29 (Reuters) - New Zealand's economy
grew 0.5 percent in the second quarter on a seasonally
adjusted basis, according to official data on Friday.
Economists polled by Reuters had a median forecast for
seasonally adjusted production based GDP to rise by 0.6 percent
on the previous quarter, and by 1.3 percent on the same quarter a
year ago. The Reserve Bank of NZ had forecast a rise of 0.4
percent.

--
It isn't so far off the consensus, so a retrace could be the order of the day. I still think kiwi is too rich, and will eventually breakdown to its level before the surprisingly hawkish RBNZ statement a couple of weeks back (medium term view).

--
Update at 00:18 (UK time)

STEPHEN KOUKOULAS, CHIEF STRATEGIST, TD SECURITIES
"Growth was a touch softer than expected, though if you take
account of the upward revision to Q1, it's pretty much dead on
forecasts. Overall, the economy seems to be travelling at around
a 2.5 percent annual pace, which is down from the very strong
pace of 2003/04 but hardly a hard landing. It's strong enough to
keep the RBNZ on edge and it's not so weak as to stand in the way
of another hike. There's still a good chance the RBNZ will
tighten further."

Myself, I agree re the data, but I don't see RBNZ tightening. ....and woah, NZD has already broken lower after only a modest 'fake' retrace. It's 6525 at the time of this update.

so what did you guys think of the new feature?

Wow, nice move. I should ahve straddled this one. Bummer, i blew it. Oww well, retrace this one will be nice!!!

I am down 10 pips due to the GDP today (us), this will bring me back up.

GREAT FEATURE BTW!!! Love it!!!

looks good.....

glad you guys dont mind it too much. we hope this is the cure to our server crashing problems, i guess we will find out tomorrow

I didn't notice the feature you talked about Merlin


Plus i got ++10 pips. In and out

DC

did you get the actual realtime?

Merlin,
Great feature, i got it almost realtime. But i thought the link would be to an external site , so that u dont get hits on FF. That does not seem to be?

Super feature anyway, kudos to you and your team.

Real time? How do we measure that? It came out at 6 45, as long it isnt like 6 46, then this feature is great! Love it merlin!, hehe, i might cancel my trade the news now because of you, hehe.

I had to refresh the main calendar page...I never saw a link


DC

ps. It sounds like a great idea though

Just thought I would let you know...

I added another +16 pips to this by trading the retracement in the same direction.

+26 pips total trade

Very nice


DC

I didn't have a chance to talk about this one much or to post anything, but I had a good straddle with DB. My sell entry got filled right on my number (71) and I rode the Kiwi down until it landed in the 20's.


I'm giving some serious consideration to trading only the Kiwi reports for the month of October. I think we all get addicted to the rush of trading; I know I have. It might be good to back off a little + the Kiwi trades are really the best. Actually i've never lost on one yet. Not all of the announcements cause a movement in the market, but they do seem to be easier to trade.