Tag Archives: NZD
Speculative Positions
Speculators scaled back on short EUR contracts and the JPY net speculative position turned short The IMM data for the period 22-28 Feb revealed: * The net short speculative EUR position decreased significantly as speculators once again scaled back on their short contracts.
Currency Weekly: Antipodean tipping point
The return of ‘risk on’ has helped propel both AUD and NZD much higher over the past two months, and both are now at record levels on a real effective basis. The mistake is to view them simply in the context of commodity price dynamics and the risk mood.
Speculative Positions
Main conclusions Scaling back on net short EUR position and stretched Scandies SEB RAI and the Carry index moving higher and RAI is now closing in an the recent highs seen in mid Oct 2011.
FX Market Analysis
FX markets struggled for direction Thursday with traders nervous about putting on new bets ahead of Federal Reserve Chairman Ben Bernanke’s testimony later in the global day and Friday’s key nonfarm payrolls data.
NZD ANALYSIS
The NZD was higher against the USD late Thursday, though below intraday highs, aided by the U.S. Federal Reserve’s announcement that it will keep interest rates exceptionally low until at least 2014.
Currency Strategy
Small and sound supersede size For the past two years, our long-term outlook has been focused on fundamentals as being the most important driver for currencies. The intensification of the euro crisis last summer made undervalued (fundamentally weak) currencies appreciate temporarily.
NZD ANALYSIS
The NZD was trading largely unchanged late Thursday after the release of surprisingly weak fourth quarter Consumer Price Index data led to some selling in the local unit. NZD touched a high of US$0.8081 prior to the release of the CPI data, but fell sharply following the release.
NZD ANALYSIS
The NZD was trading higher late Tuesday, buoyed by better-than-expected Chinese gross domestic product data mid-afternoon. China’s GDP rose 8.9% on the year in the fourth quarter, slower than the third quarter’s 9.1% growth, the National Bureau of Statistics said Tuesday.
NZD ANALYSIS
The NZD was largely unchanged Monday after market participants gave little attention to local trade data released earlier in the day. Statistics New Zealand Monday said the trade deficit was NZ$308 million in November, slightly wider than a revised NZ$228 million deficit in October. The result was largely in line with economists’ median expectation of […]
Big G10 FX charts show Euro and Aussie at new opposite extremes
USD The USD/G10 basket has yet to extend beyond its recent tops as the pro-risk currencies have held their own against the greenback even as the Euro has suffered of late. The relative strength of the greenback in an environment of still elevated risk appetite is significant relative to previous behaviour.
FX Focus: AUD and NZD – The eurozone effect
The very near-term risk of eurozone governments failing to commit to faster fiscal consolidation and the ECB failing to commit to larger bond purchases points to downside risks for the high-beta AUD and NZD, following the recent rally. But we remain constructive over the medium term for the following reasons:
FX DAILY STRATEGIST: Europe – 30 September 2011
Markets remain volatile but directionless; NZD hit by downgrades: Risk appetite continues to ebb and flow with headlines of progress and setbacks on Europe. US equities recovered from an early slide to close on a positive note, but futures have turned lower again since; the moves are mirrored by FX markets, which continue to see […]