GbpNzd now testing 2.19 again, fingers crossed 
Good morning!
Yes, I saw that Kiwi drop last night and found a mention of the Fonterra statementā¦
Indeed the GBP/NZD is rising in a channel so it may now slip from 2.19 to about
2.15 - 2.16 perhaps, before then charging higherā¦ ORā¦ it may just charge higher
in its ārocketā style
boom!!! 2.20
Across 2 GbpNzd trades Iāve got a total of 450 pips secured by stops, and a buy limit in place should it do a massive U turn
Closed for +450 pips. PC off, time for my day job
nice one!!!
[B]BIS UNVEILS GLOBAL CODE OF CONDUCT FOR FOREIGN-EXCHANGE TRADING[/B]
26 May 2016, 16:00
By Katy Burne
A body of global standards-setters Thursday laid out new principles for the safer and more transparent functioning of the worldās foreign-exchange markets, aiming to restore trust in currency trading following incidents of misconduct in recent years.
The first phase of principles was announced by the Bank for International Settlements, whose governors started working on a new code of conduct for the foreign exchange market one year ago. Phase two, scheduled for release in May 2017, will contain the final measures, the BIS said.
The six principles include new standards for ethics and addressing conflicts of interest with clients; better governance; information sharing and protecting customer interests; fair and transparent dealing; robust risk management and compliance controls; and timely confirmations and settlement.
The idea of having currency traders adhere to a new global code comes as investors have filed lawsuits against banks, alleging they conspired to rig global foreign exchange prices as far back as 2003.
The private lawsuits followed international regulatory investigations into manipulation of currency markets, as well as alleged rigging of global interest-rate benchmarks, credit derivatives and commodities.
Leading the development of the new global standards were Guy Debelle, assistant governor in financial markets at the Reserve Bank of Australia, who also chairs the Foreign Exchange Working Group of the BIS; Simon Potter, head of markets at the Federal Reserve Bank of New York; and Chris Salmon, executive director in markets at the Bank of England.
āThe foreign exchange market is one of the most vital parts of the financial plumbing,ā said Mr. Debelle in a statement prepared for release of the standards. āOne of the guiding principles underpinning our work is that the Code should promote a robust, fair, liquid, open, and transparent market.ā
Supporting these overseers was a group of industry participants chaired by David Puth, chief executive of foreign exchange settlements firm CLS Group. He said the code would have āfar-reaching implications and ensure the long-term integrity and effective functioning of the wholesale foreign exchange market.ā
When completed in May next year, the code will supersede all other existing codes but wouldnāt impose legal or regulatory obligations on market participants. āThe code will supplement local laws, rules and regulation by identifying good practices and processes,ā said Mr. Puth in prepared remarks.
The principles will apply to all banks, brokers, investors, treasurers, settlements providers, trading venues, and other participants. In blessing the new standards, central banks from around the world said they would adhere to the new code, except where it would inhibit their policy functions, and they expect private-sector traders to do the same.
Indicative examples of unacceptable practices include: trading in ways designed to disrupt the market; buying or selling larger amounts than are in the clientās interest with the intent of inflating prices against the client; buying or selling shortly before fixing rates are calculated so as to negatively move market prices; and āacting with other market participants to inflate or deflate a fixing rate against the interests of a client.ā
Write to Katy Burne at <[email protected]>
(END) Dow Jones Newswires
GbpNzd LONG @2.1761
UsdCad LONG 1.2983
[B]First EU debate tonight[/B]
The first televised EU referendum debate takes place tonight in Glasgow.
Coverage is on BBC1 from 8pm to 9pm
Thanks Eddie!
GbpNzd has been stuck in a bit of a range this past day or so. Currently trying to break above 2, 1760,. I think a consolidated break thru 2.18 could signal a strong surge as its pretty well clear water up to 2, 20
[B]CurrencyWatch feel Sterling has further to rise against Kiwi[/B]
"The New Zealand dollar (NZD) has been bucked by volatility over the past 48 hours - it suffered on Fonterraās warning about the impact of a strong currency but then recovered after the government announced its budget was in surplus.
The GBP to NZD exchange rate fell from its perch just below the magic 2.20 level on the events.
The NZD did however weaken, and declines in GBP/NZD were arrested, after Finance Minister Bill English said he is in discussions with the RBNZ on new macro prudential tools that are likely aimed at the housing market.
The suggestion that the government will introduce fresh policy measures to counter the house price bubble will allow the Reserve Bank of New Zealand to finally get a grip on the countryās declining rates of inflation. Presumably they can now cut the main OCR rate at a more agressive pace.
This would slash the countryās yield advantage and therefore diminish demand for New Zealand dollars amongst international investors.
Uptrend Higher for GBP/NZD Intact
Despite the recent bout of NZ dollar strength, in the GBP/NZD pair, sterling remains the dominant force.
The June referendum on UK membership of the EU is likely to dominate all sterling pairs regardless of the other currencyās own fundamentals, unless they are equally important.
With no sign that it is reversing the current short-term up-trend is likely to extend even higher.
MACD is above the zero-line and therefore supportive. The pair has also shrugged off the positive trade-balance data in favour of the pound, which has risen to just shy of the 2.1775 highs.
A break above these would initiate the next step higher, with a probable target then at 2.1886 where the R2 monthly pivot - a line traders use to fade the dominant trend - is likely to stall the movement higher."
From Pound to New Zealand Dollar Forecast: Uptrend Still Intact
That article was music to my earsā¦
Thanks Eddie
After a day of price crawling slowly higher, it takes Yellen to push it over 2.18
YELLEN POINTS TO POSSIBLE SUMMER INTEREST RATE RISES ā MARKET TALK
27 May 2016, 20:44
13:44 ET - Fed chief Janet Yellen has just pointed at strong prospects of a summer interest rate rise. If the economy performs as central bankers expect, when it comes to a rate hike, she says āprobably in the coming months such a move would be appropriate.ā Yellen didnāt get as specific as some colleagues who have pointed to either the June or July meetings, but even so, her comments show the Fed is clearly close to its next move. ([email protected])
(END) Dow Jones Newswires
Yellen will soar like a hawk!
I HOPE!!!
And I look forward to next week even more!
Have a great weekend, everyone!!
Pound to New Zealand Dollar: Outlook for the GBP/NZD in the Coming Week
Sunday, 29 May 2016 14:50 Written by Joaquin Monfort
The short-term trend in the GBP to NZD exchange rate is higher and our studies show there is little sign of the move abating in the week ahead.
The New Zealand dollar was the worst performing G10 currency in the week past.
āNZD comes bottom, dragged lower by a dwindling yield premium over the US - itās down to 74bp at 10years, the lowest since July 2006. The market is split about the June RBNZ meeting, but does expect a further cut in rates this year,ā says Kit Juckes, analyst at Societe Generale.
With regards to the outloook, the GBP/NZD charts are showing that a break above the 2.2003 highs would reassert the up-trend and probably lead to a continuation to 2.2150, just below the 200-day moving average (MA) at 2.2020.
GBPNZDMay27
The kiwi has recently lost ground after a warning from New Zealandās national dairy cooperative, Fonterra, that the currency was too strong and was making it difficult for New Zealand dairy farmers to export their goods at competitive prices.
This heightened expectations the Reserve Bank of New Zealand (RBNZ) might cut interest rates in order to weaken the currency. Lower interest rates are overall negative for a currency as they attract less foreign capital due to the lower expected returns.
Reports the government and RBNZ might be about to introduce more macro-prudential policies to cool the overheating housing market, which has made Auckland the most expensive place in the world to live based on the ratio of average income to average house price.
The housing market has put pressure on the RBNZ to increase interest rates to reduce borrowing, however, if macro-prudential policies are introduced to tighten lending criteria, these will do the job of higher interest rates, freeing up the RBNZ to cut rates if it needs to.
Any more reports on housing policies in the week ahead, therefore, would be likely lead to the New Zealand dollar weakening further.
Analysis of the Pound
The main event for sterling will be the triumvirate of purchasing manager surveys (PMIās) released, including Manufacturing, Services and Construction.
The fall below 50 in manufacturing PMI in the previous month of April was a particularly negative sign, which shows that the manufacturing sector is contracting (over 50 = expansion; under 50 = contraction).
If PMIās for May continue to show weakness this will probably weigh on the pound because it will lower the possibility that the Bank of England (BOE) will raise interest rates sooner than expected.
Higher interest rates support a currency as they increase capital flows into the country due to the higher return offered.
Some analysts have argued that the fall in PMIās is as a result of Brexit fears, which have contributed to a fall in direct foreign investment. If they are right then PMIās should bounce back if the referendum vote returns a Stay win, as bookmakers still probably expect.
If PMI weakness is not due to Brexit concerns, however, then Economist Roger Bootle, argues it could substantially delay interest rate expectations, as PMIās are currently at such a low level which, āin the past has often triggered interest rate cuts from the MPC.ā
Pound to New Zealand Dollar: Outlook for the GBP/NZD in the Coming Week
Hi PipMeHappy, hope all is well with the bambino.
Just looking back in the charts, boring bank holiday Monday, and noticed GbpNzd hit 3.71 back in 2000. Whatās the odds on getting back to that level, the stuff dreams are made of.
Best wishes with the baby, I envy you, those were the best times of my life.
Hi Eddie! Ciao! Bambina is so good, thanks! I cuddle her and she sleepsā¦I then navigate the charts with my spare hand haha Glad to hear you enjoyed your early fatherhood too, it is priceless 
Zombietown today with UK and US offlineā¦ GBP/NZD back to.3.70? Sure,why not?
Looking at a chart like the one I attach below (showing the last thirty-five years for this pair), anything is possible, as it is very difficult not to draw the conclusion that price moved in large cycles between 2.0 and 3.5+, with peaks in 1993 and 2000 (both times at 3.5+)ā¦ The seven-year cycle then continued as a downtrend with lower peaks in 2008 (3.0) and 2015 (2.5) ā¦this suggests either a continuation of the trend to another lower high in 2022 (2.0) or a break above and return to former highs, anywhere between 2.5 and 3.5+ (again by 2022)ā¦
My daughter will be six years old by thenā¦
May the Buddha bring the light of patience to our charts
Ps: chart prepared through FXtop.com
Sterling has taken a bit of a beating today, partly on thoughts that the recent rise may have gone too far, too fast. Not helped by Wm Hill bookmakers saying theyāve had a surge of bets on a Brexit.
However, I feel its gone too far the other way, soā¦
Long GbpAud @ 2.0153