It looks that way …to say that this was meant to be an exciting time for traders!!
[QUOTE=“PipMeHappy;775149”] It looks that way …to say that this was meant to be an exciting time for traders!![/QUOTE]
It probably is exciting times, just not for us wannabes.
Probably…sadly, HFTs suck all volatility out of markets in a minute, leaving mouse traders like us with a flat market .
Yet you can see price divergence from speculators’ positioning…
Who will win… .price or the speculators?
Carney speaks in the morning, then in the afternoon there is the Global Dairy Trade auction…
Both should (or ‘could’) move GBP/NZD a fair bit…
Happy trading.
Global Dairy Trade auction came out negative:
The Kiwi continued its morning slide, fuelled by the
above dairy event:
Kiwi sliding against everything except Sterling
September futures (CME) for Kiwi contracts show a sharp increase in selling today, off the 0.72 level:
CommodityCharts.com: Futures & Forex Quotes, Futures Charts, Custom Quoteboards, Commentary
No significant retrace at all yet either. Could be seeing a squeeze soon potentially.
Get those “balls of steel” ready
This is a Pound move, obviously… Looking at the CME futures contract (Sep. 2016 expiration)
for Kiwi Dollar, we can see strong selling volume around the 0.72 level, so the Kiwi has not made any
upside progress, making this GBP/NZD slide entirely Pound-based,
Until the Pound’s outlook fails to improve, who knows how low this pair can fall…
And the beat(down) goes on…
Going to be interesting if it gets down to 1.77. Would seem a logical place for a bounce being an all time low - some buyers would be lurking there and some shorts would cash out/lighten up. But as PMH pointed out the drop is all wider GBP pressure related that I don’t see abating much in the short-term. Tough to see that level holding for long right now given the current outlook.
Agreed! …
In the last 36 hours, this pair has kicked off an upswing, going from 1.77 to currently almost 1.81… Incredible…
Just shows what a bit of stability can do. I got back in yesterday, holding this for the long haul as the downside has to be limited.
Hello peeps!
This pair opened the new trading week with a massive rush up…
Currently, it is trading at 1.8730…
Unbelievable!
Hello peeps!
What day is it? It is…global dairy auction day!
With dairy prices still expected to slump this year,
there is doubt that the auction will deliver a boost today;
with the Kiwi/USD poised to break below the
round-number figure of 0.70, another negative
dairy trade auction would increase momentum
on the tail of the recent drop caused by the
following:
NZD, swap rates fall as market sees room for two RBNZ cuts | Scoop News
Meanwhile, Pound/Kiwi has reached 1.89 and
is currently loitering around 1.88, after an incredible
bull stampede fron the 1.77 low: will it charge past
1.90 today?
