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Thread: Kiwi may fall on recovery fears

  1. #1
    MotherBear's Avatar
    MotherBear is offline The missing link
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    Default Kiwi may fall on recovery fears

    But by how much?

    Dollar Outlook: Kiwi may fall on recovery fears
    Page 1 of 2 ..... 1:50PM Monday Oct 05, 2009

    The New Zealand dollar may fall this week as fears the global recovery may be slower than expected sap demand for higher-yielding, or riskier, assets amid weaker stock markets in the US and Europe.

    Five of seven economists and strategists in a BusinessWire survey predict the kiwi dollar will fall this week as equity markets in the US ease from their 12-month highs ahead of the earnings season for the three months to September 30.

    One expects the currency will stay in its current range, while the remaining analyst forecasts it to gain with local data likely to show New Zealand's economy has come through the downturn relatively unscathed.

    Weaker-than-expected unemployment data in the US on Friday, showing America shed 258,000 jobs in September, eroded optimism the world economy is on the upswing of a V-shaped recovery.

    More here.
    Mother Bear

    Try to bloom wherever you are planted.

  2. #2
    macfod's Avatar
    macfod is offline Oh Masterful One
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    Default but when

    I thought 2.35 was bad to buy the dollar.
    Currently we are just over 2.15....loony

    but someone on here will say told you so...

  3. #3
    francis1962 is offline Member
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    Default pound down down down

    Noticed today(as if I don't check every day) that the pound has managed to drop to $2.00(tourist rate)

    It was $2.80 when we visited in Feb

    This is starting to get scary

    If this continues then delaying moving will have to be considered as an option

    Couldn't afford to transfer money in near future

    The only advantage we have is that we are not selling our house yet but if you are.....nightmare

    Only problem is that it's not helpful hoping that the NZ ecomomy will become as bad as GB to equalise things

    General election please


    Francis

  4. #4
    kokopeli is offline God like figure
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    Default

    Hmmm, 2.15 is horribly, horribly low.

    The UK govt policy of printing money to pay debts has been a disaster and I can't see it (the exchange rate) getting better in the near future.

  5. #5
    MotherBear's Avatar
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    Default NZ dollar highest since July 2008

    NZ dollar highest since July 2008
    New 5:55PM Thursday Oct 15, 2009

    The New Zealand dollar rose to its highest level since July 2008 after higher-than-expected inflation data caused investors to bring forward expectations for New Zealand's first official interest rate hike.

    By 5pm the NZ dollar was at US74.63c, up from US73.81c at 8am and US73.99c at 5pm. It rose as high as US74.89c today.

    The consumers price index rose 1.3 per cent in the three months to September, taking the annual rate to 1.7 per cent.

    While the annual rate of inflation was the lowest for 5-1/2 years, it was still above the median forecast in a Reuters poll of economists which had been for a rise of 1.2 per cent.

    The quarterly forecast had been for a rise of 0.8 per cent.

    "The CPI came out quite a lot stronger than what the market expected so consequently the market has brought forward a little bit the timing of when it expects the Reserve Bank of New Zealand to start hiking," said BNZ Capital strategist Mike Jones.

    The central bank has been rates will not rise until the end of 2010 but investors think it could be at the start of that year.

    More here.
    Mother Bear

    Try to bloom wherever you are planted.

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