[B]Hello traders!
I just made a new video about how to use news to link trading and fundamentals,
looking at tools, apps, calendars, and market sentiment/reaction…
I hope you may find this useful!
https://www.youtube.com/watch?v=z9q7AFE6EDw
Happy trading! [/B]
This is a good example of how a ‘low-impact’ bit of news on the economic calendar can have a ‘high’ impact, unexpectedly:
NZ CREDIT CARD SPENDING came out after 2am GMT today, with a higher number than last month and year-on-year; this is the effect it had on GBP/NZD:
[QUOTE=“PipMeHappy;734118”]This is a good example of how a ‘low-impact’ bit of news on the economic calendar can have a ‘high’ impact, unexpectedly: NZ CREDIT CARD SPENDING came out after 2am GMT today, with a higher number than last month and year-on-year; this is the effect it had on GBP/NZD: <img src=“301 Moved Permanently”/>[/QUOTE]
How do you even trade that? I’m only half kidding.
lol, i’m really not sure if you’re joking or you’ve been hitting the sauce a little too heavily!
The late week kick (0.5% rise) on Kiwi was driven by a lack of aggressive USD forward pricing not credit card spending.
As soon as the October Fed minutes confirmed a muted rate hike scenario, market players began trimming their bets on the pace of greenback appreciation, some faster than others.
Those same players will now turn more focused attention to the November payrolls numbers released in early December for more clues as to whether the Fed will raise in December and/or how strong/weak their bias is.
I completely agree.
The particular item of NZ news was irrelevant, were it not for the fact that a 100-pip move that happens around the time of data release is not a coincidence.
Quite… You probably do not…
Ps did you watch my video?
Ps: do you trade the Kiwi?
If so, maybe join me EddieB, Baz, and Yohec on Zizzoforex17’s GBP/NZD thread, or on EddieB’s Balls of Steel one!
