So…
Employment is up, but…
Unemployment is ALSO up,
both beating previous data AS WELL AS expectations…
The result?
A rally…
This Kiwi bullishness annoys me because
it is pointless and it is a matter of more waiting
around … If only tonight’s increase in unemployment
and this afternoon’s negative dairy prices
had been enough…but no, this bast#ard
is stubbornly being bought for yield…
But the fundamentals do not stack up…
Well, I never!
After a bullish candle in the hour of the (un)employment news, NZD/USD broke below 0.69 in the 2am-3am period:
As a result, GBP/NZD has shot up and is now trading…
ABOVE 2.11!
Eddie, Baz, and Yohec: are you buying?
Before the latest upward spike on GBP/NZD I entered short around 2.1040. I was looking to pick up 100 pips on a drop to 2.09.
Earlier this week I picked up 100 pips going long from 2.0980 to 2.1080.
A break through 2.1100 & then a nice pin-bar of the 20EMA, I am most definitely long. Got in at 2.1237 which a cautious 50-pips stop. Going to trail it at 2R as I’ve got a busy day & wont be eying the charts.
Instead of banking pips, I’ve got to prep for a birthday party for my 3yr old (I know, kill me now). You’ll have all this to look forward to PMH. How is the eviction notice going, are mother & child ready for “splash-down”?
Hi Baz, nice entry!!
I wish you luck on this trade!!
I find kids’ “parties” so daunting, so I
feel for you… Maybe because I came from
a family/time where children did not get constant
praise and presents… I have been to some children
“parties” and did not really know people and had no
kids of my own so, without even boozing available
to make time go faster, it was dire…I did it
for my nieces and nephews but I am not
looking forward to more!! Trips away, yes,
toddler parties, very few 
‘Splash-down’ will be any time between now
and Tuesday… Aghh final days as a couple
before our lives will change forever (for the better,
I am sure, although it will be challenging, I am told)!
Negative rates not out of the question…
Hello peeps!
In the next 24 hrs. we have three
important pieces of event risk that
could influence price for GBP/NZD:
RBNZ two-year inflation expectations report (tomorrow, 4am GMT);
UK CPI (tomorrow, 9.30am GMT);
Global Dairy Trade auction in New Zealand,
tomorrow from 12pm to about 2pm/3pm GMT.
Happy trading!
Hello peeps!
Well, the Global Dairy Trade Auction
came out positive with a +2.6% print,
which spurred this reaction from GBP/NZD:
Kerching! !
Positive UK retail figures this morning
sent Pound-Kiwi up past 2.17:
This cash cow is ready for more milking
so roll your sleeves up and get busy
Happy trading
Ive posted this on my thread, like you this move seems to defy logic
New Zealand Dollar Edges Higher Against the Greenback
20 May 2016, 07:15
By Kate Geenty
WELLINGTON–The New Zealand dollar recovered from two-month lows against the U.S. dollar in local trading Friday.
The kiwi hit a low of US$0.6711 in offshore trading Thursday after the U.S. dollar firmed following remarks by New York Federal Reserve President William Dudley that “June is definitely a live meeting” when it comes to possible U.S. rate rise.
The New Zealand dollar pulled back from this low during the local session and by 0400 GMT Friday was trading at US$0.6762 compared with US$0.6739 at the same time Thursday. Against the Australian dollar the kiwi was trading at A$0.9357 compared with A$0.9343 on Thursday.
While talk of an upcoming U.S. rate increase gains momentum, the possibility of a rate rise in New Zealand in June appears to be waning. ANZ currency strategists said the odds of the Reserve Bank of New Zealand cutting the official cash rate in June have fallen steadily over the course of the week, with odds of around 32% priced into the market. “This has, in our view, all occurred for good reason–with the activity side of the economy still in good shape, housing still going gangbusters, and core inflation appearing to be rising.”
ANZ said the New Zealand dollar is still elevated but, “the harsh reality is that the New Zealand dollar hasn’t really gone anywhere since the first OCR cut last June. So cutting in expectation that it will lower the New Zealand dollar hardly sounds like a good idea, especially with the U.S. dollar determining much of the New Zealand dollar’s overall direction.”
Deutsche Bank’s New Zealand chief economist Darren Gibbs thinks the Reserve Bank of New Zealand is likely to keep the official cash rate unchanged at 2.25% at its June meeting. “Moreover, in our view a cut at the August 11 meeting is only just greater than a 50/50 proposition (formally we will adopt the latter as our central forecast, but with no great conviction).”
-Write to Kate Geenty at <[email protected]>
(END) Dow Jones Newswires
May 20, 2016 00:15 ET (04:15 GMT)
Copyright © 2016 Dow Jones & Company, Inc.
Trading and logic really do not belong together, sometimes,
and the more I trade, the more I see that this is so!
Ive banked my GbpNzd trades and am getting withdrawal symptoms. Have a buy limit in place but its killing me being out of it, although im sure there will be some profit taking and a price drop later today.
Sit on hands time
[I]Buddha buttocks
on your hands
bring you wealth
[/I]
