There are currencies of countries that are heavily reliant on commodity export. Hence, they are being called commodity currencies. It is important to note by any currency trader that the value of commodity currencies climbs and drops and is directly proportionate with the value of the country’s major commodity exports. 512 more words
Tags » NZD
03/23/2017 – note this pattern on the KIWI.
Certainly looks like it ‘wants’ to go down and tag the level shown. last night I blogged about “cotton” banging into the first portion of the pretty big gap and it appears (please see below) that the “Milk Non-Fat Futures” has completed an upward correction and will plumb the lows again. 511 more words
Nomura Research notes that the key upcoming test for the risk environment and for the ‘Trumpflation trade will be the House vote on the American Health Care Act on Thursday. 118 more words
- The Reserve Bank of New Zealand kept interest rates steady at a record low 1.75 per cent, as expected.
- Graeme Wheeler, the central bank’s governor, said that while the New Zealand dollar had weakened by 4 per cent since February, partly thanks to softer dairy prices, “further depreciation is needed to achieve more balanced growth.” 60 more words
Energy trader positioning has been heavily long oil and that trade seems to be unwinding. I am guilty of not weighing enough importance on market positioning in initiating a $60 WTI price target back in December. 358 more words