Hello traders,
I have just made a video with a live commentary while watching Gov. Wheeler’s press conference
and showing the reaction on the charts from NZD/USD and GBP/NZD.
Nothing really happened, as references to the exchange rate did not provide the focus of the
press conference, which was more concerned about dairy and housing prices…
I am about to upload the video on my YouTube channel, and I will put a link on Forextown in the
next 10-15 minutes.
Look forward to seeing it 
Rising Auckland Home Prices Pose Stability Risks – Market Talk
10 November 2015, 23:33
15:33 ET - Home-price growth in Auckland has increased strongly with price-to-income ratios in the region now comparable to those seen in some of the world’s most-expensive cities, the country’s central bank says in a report on financial-sector stability. “International evidence suggests that investor loans have a higher tendency to default in the event of a major downturn in the housing market. A sharp downturn could challenge financial stability, given the large exposure of the banking system to the Auckland housing market.” ([email protected]; @JamesGlynnWSJ)
(END) Dow Jones Newswires
November 10, 2015 15:33 ET (20:33 GMT)
Copyright © 2015 Dow Jones & Company, Inc.
Hello traders!
Here is my live commentary this evening of Gov. Wheeler’s and Asst. Gov. McDermott’s
press conference tonight, 8.05pm, and the effect on NZD/USD and GBP/NZD.
The volume bars are a good idea
[B]EurNzd worth looking at[/B]
Looking at the average pip daily movement over the last 6 months, EurNzd at 265 pips a day is well worth considering, in fact in percentage terms (1.62% a day) it moves more than both GbpNzd (1.51) and GbpAud (1.21)
I would also include EURAUD in the mix…
these 4 pairs (EURAUD, EURNZD, GBPAUD, GBPNZD) have always been my favourites…
Thanks Mike, I’d not spotted that (235 pips, 1.46%)
You’re welcome, eddie…
I actually observed volatility on a weekly basis for some time…and these are the most volatile pairs, apart from exotics…they are also correlated at some point, so one can use that too…
They are fun to trade…on some days you can have great long AND short trades of some 100s pips…on other days they really screwed me up (or better i screwed up by trading badly)
2 more central bank speeches out today, Cairney in a couple if hours and Draghi a few hours later.
Expect lots if speculative movement followed by prices returning to roughly where they were beforehand.
Yes, good morning Eddie!
The markets have, in my view, discounted the BoE rate hike bets for 2015 and even the first half of 2016,l…let us remember how the GBP rate histeria swept it up from Carney’s instalment in July 2013 to the summer of 2014, rising to 1.72 and then precipitating back down as it came to pass that the rate rise was not going to happen after all…two and a half years of nothing… That is paryly why the Cable has not really had any conviction this year, in any direction… So even if the UK employment data were exceptional this morning, I would not be so confident that we would see the market support the move as much as it happened with the NFPs last Friday, because the hawks’ darling at this moment is not the BoE but the Fed…
Well, the speeches are done and prices more or less back where they started.
The main thing I picked up on was Draghis emphasis on deeper financial and monetary union across Europe, a thinly veiled warning to the UK that he isnt happy with the pound remaining outside the Euro.
A dangerous game to play, risking the chance of a Brexit becoming reality.
I must say that you are in the right place.
The GBP/CHF also has big pip ranges from the European session to the overlap of the US session.
In again
Position #2: Long at 2.1280
Closed Position #1 at 2.1484 for +95 pips.
Position #2: Set SL at +150 pips
Position #2: Closed at 2.1440 for +160 pips.
All out on GBP/AUD
In again:
Long at 2.1394
Position #2: Long at 2.1290
