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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3117
Forum Topic:

Commodity FX (CAD AUD NZD NOK)

Discuss Commodity FX (CAD AUD NZD NOK)
 
Ashraf Laidi
London, UK
Posts: 0
11 years ago
Mar 10, 2011 2:15
BNZ Cut by 50 bps, Aussie Jobs Came in Negative & BoE Awaited for Nothing. Despite the RBNZs 50-bp cut to 2.50, NZDUSD quickly recovered from its slide to 0.7340s. The main reason NZDUSD had managed to stabilize was the pre-emptive nature of the rate cut. The RBNZ said: We expect that the current monetary policy accommodation will need to be removed once the rebuilding phase materialises. While this suggest the RBNZ is unlikely deliver further easing, it opens the way for further GDP weakness, something the cenbank alluded to prior to the earthquake. Weekly NZD stochastics appear oversold at this point, so traders can expect corrective moves to as high as 0.7440s before retesting 0.73.NZDCAD remains a favourite short after the Feb 2009 trendine support was broken at 0.7370s, now eyeing a prelim target of 0.6960s.

Ashraf
chloethebull
halifax, Canada
Posts: 1183
11 years ago
Mar 10, 2011 1:42
not sure if any of u guys follow edmatts on twitter but he posted a very intresting video on $cad tech chart...i think he was using e/w therory but basically said $cad has completed its down move and he expects the $cad to rally quite strongly back to 9960 level b4 making a stronger pulse bac threw paridy..daveo if u get a chance chk it out would be nice to gt ur opinion on it:) thanks and gl ..havent heard too much from u lately..:)
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Mar 10, 2011 0:29
Heads up for AUD employment #'s
catnip
Frankfurt Europhrates River , Germany
Posted Anonymously
11 years ago
Mar 9, 2011 20:34
uh oh...recieved correction just now indeed 50 bp cut.
catnip
Frankfurt Europhrates River , Germany
Posted Anonymously
11 years ago
Mar 9, 2011 20:33
Huh? Previous 2.75 now 2.5 gives 25 bp
Ashraf Laidi
London, UK
Posts: 0
11 years ago
Mar 9, 2011 20:30
RBNZ Cut by 50 bps to 2.50% and not by 25 bps


See latest IMT

Ashraf
catnip
Frankfurt Europhrates River , Germany
Posted Anonymously
11 years ago
Mar 9, 2011 20:04
ok 25 bps cut .. no trade NZD
Ashraf Laidi
London, UK
Posts: 0
11 years ago
Mar 9, 2011 19:31
Catnip, careful in interpreting these strength meters. They do great job in showing the strongest/weakest at a partic point in time, but do not say much about future performance. I said early last week NZD was an attractive short against CAD and EUR. After a sharp decline in NZDCAD, the cross has somewhat stabilized. So this may be time for fresh shorts in NZDCAD and even longs in EURNZD as a way to play the bottom in EUR (as long as EURUSD is close to 1.3850).

Ashraf
catnip
Germany
Posted Anonymously
11 years ago
Mar 9, 2011 19:19
Trading NZD acording to strength meter best pairs are NZDCHF NZDJPY if surprise 50 bp rate cut
Ashraf Laidi
London, UK
Posts: 0
11 years ago
Mar 9, 2011 15:51
NZD and GBP countdown into their respective interest rate decisions (RBNZ Wednesday at 20:00 GMT, BoE Thursday noon GMT). Consensus expects RBNZ to cut by 25-bps to 2.75% but there is talk of a possible 50-bp rate cut. Notably, NZD outperformed AUD and most other currencies on Tuesday when the USD rallied across the board. Potential hedging plays may be considered w/ short NZDUSD and short AUDNZD ahead of the RBNZ, exploiting AUDs ongoing weakness and muted rebound.

Ashraf