Dislikedmarket will rally now, 10% difference in retail net positioning from the peak 6840 {image}Ignored
- #10,245
- Oct 26, 2015 4:52pm Oct 26, 2015 4:52pm
- Joined Mar 2014 | Status: swimming with floaters and snorkels | 1,157 Posts
Was it cashed in and going up now?
- #10,248
- Oct 26, 2015 6:10pm Oct 26, 2015 6:10pm
- Joined Mar 2014 | Status: swimming with floaters and snorkels | 1,157 Posts
FED & RBNZ on the same day gotta be fun 
- #10,252
- Oct 28, 2015 11:28am Oct 28, 2015 11:28am
- Joined Aug 2013 | Status: Trader | 4,895 Posts
Rate hike not expected makes for an interesting situation. After the rate cut last month, the Kiwi (after initial spike down) proceeded to rise roughly 600 pips, nearly a 10% gain, that can't be what the doctor ordered for an export heavy economy, especially with China depreciating the Yuan. However, it shouldn't be that much of a surprise as the RBNZ was very transparent with their intention to cut rates.
Dairy prices have seemingly bottomed and bounced but still, Mr. Wheeler can't be too happy about the Kiwi threatening 70 cents a couple of weeks ago, especially since the Chinese have yet again devalued the Yuan. Also note the last trade balance print, missing on the negative side by a whopping 400 million.
The general consensus is that the FED will spew out the same gum flapping gibberish and wont cut, and that the RBNZ will also hold rates this time around but with their "future rate cuts likely" rhetoric.
If Mr. Wheeler and friends want to send the Kiwi for a cliff dive, a rate cut this time would likely do the trick.(especially since it isnt expected in addition to the RBNZ saying there is no rush, that time is on their side) Also, it is important to note that the RBNZ has had time to digest this latest Kiwi bull move and to think about what another run at 70 and beyond might mean to their economy. I am still holding short from 6850, unfortunately holding the position requires enough breathing room to withstand some wild spreads and spikes. Go big or go home, or possibly just curl up in the fetal position and cry.
Please Mr. Wheeler, "shock the world", Muhammad Ali style, and cut rates, I really like cliff diving and need some extra pips
Good luck traders
Dairy prices have seemingly bottomed and bounced but still, Mr. Wheeler can't be too happy about the Kiwi threatening 70 cents a couple of weeks ago, especially since the Chinese have yet again devalued the Yuan. Also note the last trade balance print, missing on the negative side by a whopping 400 million.
The general consensus is that the FED will spew out the same gum flapping gibberish and wont cut, and that the RBNZ will also hold rates this time around but with their "future rate cuts likely" rhetoric.
If Mr. Wheeler and friends want to send the Kiwi for a cliff dive, a rate cut this time would likely do the trick.(especially since it isnt expected in addition to the RBNZ saying there is no rush, that time is on their side) Also, it is important to note that the RBNZ has had time to digest this latest Kiwi bull move and to think about what another run at 70 and beyond might mean to their economy. I am still holding short from 6850, unfortunately holding the position requires enough breathing room to withstand some wild spreads and spikes. Go big or go home, or possibly just curl up in the fetal position and cry.
Please Mr. Wheeler, "shock the world", Muhammad Ali style, and cut rates, I really like cliff diving and need some extra pips
Good luck traders
Pride always comes before destruction.... -Proverbs 16:18
thanks to the FEds interest rate decision, but I still see a bearish chart in the kiwi pair
