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Price action looks like it has been sold off since the election on an indecision and then as they say lambs to the slaughter. Just read up on her – 7 weeks as opposition leader – wow inexperienced. I won’t comment on the photo, but nice charts thank you.
You’d think instead of pretending the election is in place to help the bottom dwellers in a society the populist movement would choose for said people. Clear Peters wouldn’t poach because their table is now loaded with enough home grown goodies . . . NZ will be a f**king dartboard for FX traders now.
That about sums it up – I mainly just trade the kiwi as an after thought on extremes – doesn’t seem there yet only bounce 20 pips off it’s lows after a full Northern Hemisphere session.
[quote=”TradersCom” post=2505]Kiwi continues to be dumped as Sydney enters $NZDUSD through .70 cents[/quote]
There is a lot of unanswered questions now and lots of nerves about Peters I read
From ANZ Note:
Uncertainty will continue to mount until the policies of the new coalition government have been made clear. FX markets will particularly focused on what happens to the Reserve Bank Act, how business confidence reacts to the government and what the housing and immigration policies look like. Offsetting this will be how much the impending fiscal expansion surprises positively. How these factors balance will be critical to the RBNZ’s outlook and, by extension, the NZD
Following the formation of the coalition government in New Zealand, AUD/NZD has made a definitive break higher and will form a range around fair value (1.1250)
A sustained move higher from there will be contingent on factors on both sides of the Tasman: relative business confidence, migration and the stance of the two central banks.
While risks are tilted higher, we are not yet convinced that these factors have fallen into place.
Labour plan to reduce immigration. Unlike Oz they have been very generous in accepting assylum seekers. This has had an affect on affordable housing, even if small.
Housing situation in Auckland is quite dire & homeless situation outrageous. True the people want to stay in Auckland, the cities. Christchurch still hasn’t recovered from earthquake a few years ago.From what I understand about New Zealand it has many economic problems and lives above its means relying much from Australia to maintain this. I have been following it’s property prices it regularly comes up in bubble watch articles. Interesting on immigration – some countries take immigrants when they cant afford it seems or is it an excuse here to mask other issues by NZ stopping it?
This new prime minister from what I read is there simply because of this guy Peters who is described as unstable, nuts etc etc Wish her luck
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