I tightened it up to 2.3390 as it’s looking like a nice bullish pin/bar on the 1hr although it’s not closed yet.
If it can push out 2.3480 today then I’ll be out.
Och aye 
A high of 2.34818 - that’ll do, donkey. That’ll do!
I’m thoroughly impressed with getting the range pretty much slap bang on the nose: I missed my initial entry by 1-pip & I got my exit with 1-pip to spare. I’ll put that down to 5% skill & a whopping 95% luck though.
Nice one, Barry!
Thanks. I’m now looking at 1.3350 to get long again.
Hello traders,
following the release at 2am today of the RBNZ’s 2-year inflation expectation report, showing a downgrade to less than 1.9% ( Inflation expectations drift further below 2% mid-point | The National Business Review ), the pair climbed to 2.35…
Later today, we have two more important events:
- UK CPI, which is not forecast to do much (and it may be a non-event), because year-on-year it is expected to show no change (-0.1%):
- the second event, which you won’t find on your standard economic calendar, is the Global Dairy Trade auction in Auckland, NZ, at 12pm today (GMT): given that the last two auctions hit dairy prices hard, and the Kiwi-USD fell as a result, this event is definitely one to watch, especially as the RBNZ’s rate decision next month will be shaped by concerns over dairy exports.
Good luck trading…
[B] Reminder:
Global Dairy Trade auction in fifteen minutes!
[/B]
Not a very strong reaction so far. How long does it take to see the effect on NZD? Or is this it?
The GDT website has not updated to reflect results from this latest event.
The timing is never accurate with this figure (twitter and refresh on GDT site are best bets and NZD will react
[quote=“yohec,post:712,topic:72917”]
Not a very strong reaction so far. How long does it take to see the effect on NZD? Or is this it?
The timing is never accurate with this figure (twitter and refresh on GDT site are best bets and NZD will react
Agreed, Kev…
I am not sure how long the auction lasts… KIWI/USD is stuck in a five-pip range…
I think you would have to be a member to log into GDT and see the live auction…
I am refreshing the GDT page, as Kev said, and have the NZD/USD chart up (5m).
UOPDATE
Well, hello everyone!
So…
the dairy trade auction must still be on because there is no result yet on
https://www.globaldairytrade.info/
On top of that, the UK CPI this morning was lacklustre, and the US CPI that
just came out a few minutes ago was also lacklustre (Year on Year it only grew
by 0.2%, to… 0.2%!)
What is interesting is the market’s reaction, as the NZD/USD has been stuck
in a very narrow range (0.6470 - 0.6480, candle open/close values) and there
is nothing fuelling a move… When the GDT auction results come out, then we
will see a move, I suppose…
Sometimes the market will interpret a very modest result (like the US CPI data
today) in a very bullish or bearish way beyond what is ‘reasonable’ because of
general sentiment that has been building up, and will ignore results that are
negative (unless they are so negative that they put into question current sentiment)…
FLASH UPDATE on UPDATE!
As I am typing this, the NZD/USD has been moving quickly to the downside (and GBP/NZD
has moved up against 2.35)… I am not certain why… It could be a move of a certain significance
or not… it is too early to say…
Yet GBP/NZD remains near 3.5000. The poor result from the Dairy Auction must have already been priced in since we don’t see a big sustained move in either direction.
It appears that 3.4000 may provide a good support level for now.
Agreed 
We have come up 1,100+ pips from that 2.24 level, so you could say it is catching its breath
Do any of you guys trade counter-trend as well? I made some pips today & then l thought I’d mix it up a bit & I’m currently short from 2.3560 with a stop just above the high - aiming for 2.3500 give or take 10-pips.
EddieB does… I am just long on this pair for eternity
“The NZ dollar remains highly reactive to the price of dairy products – a key export for the country.”
A new article by the above title, for which follow this link:
Not much going on today for NZD, USD, or GBP, except the 7pm (GMT) release of October’s FOMC meeting minutes…
A day for shorter-term traders to try capturing intra-day moves, perhaps… GBP/NZD is pushing back toward 2.35 as we speak, and on the 4h (and now daily) chart the uptrend resumption looks very strong.
Good luck out there!
