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Notes From Underground: Its a Very Cold Day In July ... When Bundesbank Capitulates

The financial press is filled with articles about the recent EURO weakness. During the last week the EU currency has fallen about 1.5 percent. Many pundits have opined that it is the Ukraine situation and Gaza that have made investors uneasy, thus the move into U.S. 562 more words

Fed

Watch the Kiwi!

As we mentioned in our previous posts, this low-volatile environment has played in favour of carry trade currencies, and especially the Kiwi. Since the RBNZ has started its monetary policy tightening cycle this year raising its benchmark three times by 0.25% to 3.25%, the NZ dollar keeps appreciating against the major currencies. 191 more words

Global Macro

Central Bank Meetings Jul-Sep

Central Bank Current Rate Next Meeting Last Change Reserve Bank of Australia (RBA) 2.50% 1-Jul-14 Aug 06, 2013 (-25bp) European Central Bank (ECB) 50 more words
Event Calendar

AUD/NZD : the key rates are diverging

The market is still fond of  carry-trade for this parity. Indeed, the RBNZ is suppose to raise its key rate  (OCR) in july  as opposed to the  RBA which has a downward  bias  on its key rate. 27 more words

Forex

AUD/NZD : Divergence des taux directeurs

Le marché aime toujours l’idée du carry-trade sur cette paire. En effet, la RBNZ est supposée augmenter son taux directeur (OCR) au mois de juillet tandis que la RBA a un biais baissier sur son taux directeur. 26 more words

Forex

A Return to Divergent Global Monetary Policy

Recent statements and actions form central bankers around the world have begun to suggest that we are finally beginning to see a return to divergent global monetary policy. 657 more words

Forex

NZD/USD : the key rate rises to 3,25%

For the third time this year, the RBNZ decided  yesterday to raise its key rate  (OCR, official Cash Rate) to 3,25%.The New Zealand Central Bank states that it wishes to further raise its key rate to  3,50% till the end of 2014. 50 more words

Forex