NZD/USD Dives on S&P Outlook Revision
Results 1 to 2 of 2
  1. #1
    Join Date
    Dec 2006

    Default NZD/USD Dives on S&P Outlook Revision

    NZD/USD dropped 4% after Standard & Poor revised it's currency credit rating from 'stable' to 'negative'.

    The New Zealand dollar's base interest rate of 5% makes it a popular carry trade currency. It is also regarded as a commodity currency, known for it's close correlation to gold.

    As the daily chart shows, NZD/USD retraced 50% from it's recent low, where a double bottom in the 0.5194 area forms support.

  2. #2

    Default Upside?

    Im basing trades on a weak dollar. Im looking to go long foreign currencies Such as nzd/usd. I believe that the dollar will ultimatly continue down, which will help the yen and the franc. But how much upside is there in the nzd/usd. What are some risks that maybe I haven`t thought of? Anybody?

Forum Sponsors

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
"The gem cannot be polished without friction, nor man perfected without trials."