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Thread: time to buy some more $nzd

  1. #1
    macfod's Avatar
    macfod is offline Oh Masterful One
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    Default time to buy some more $nzd

    Its on the move again at 2.84 against sterling.

    I always buy when it goes above 2.80..

  2. #2
    MotherBear's Avatar
    MotherBear is offline The missing link
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    Currency: NZ dollar takes a tumble
    8:55AM Tuesday Dec 02, 2008

    The New Zealand dollar tumbled this morning as sharp declines in United States, European and Chinese manufacturing activity unnerved investors and pushed world stock markets lower.

    The kiwi reached a two-month low against the Australian dollar, and sank to its lowest levels in around a week against the greenback and yen.

    By 8am, the kiwi was buying US53.62c from US54.18c at 5pm yesterday, having dropped to around US53.20c at its lowest point early today.

    Against the aussie, the NZ dollar fell to around A82.60c from A83.64c at yesterday's local close and by 8am had recovered some of the lost ground to A82.78c.

    The kiwi also fell to around 49.70 yen from 51.62 at 5pm and by the local open was at 50 yen.

    Against the euro, the NZ dollar was down to 0.4234 by the local open from 0.4278. The trade weighted index was 54.48 at 8am from 55.12 at 5pm.

    The US dollar and yen rallied, continuing the pattern of the past few months as investors reversed risky trades funded by cheap yen and greenback borrowings.

    More here.
    Mother Bear

    Try to bloom wherever you are planted.

  3. #3
    selchie's Avatar
    selchie is offline All Knowing Deity
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    Oh why couldn't it have been that bad/good when we were there? Must dash over again so we can save money
    If men had wings and bore black feathers, few of them would be clever enough to be crows.
    - Rev. Henry Ward Beecher, mid-1800s

  4. #4
    ExPat is offline Member
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    Default

    Kiwi will head even lower really fast, don't buy now wait....

    NEWS RELEASE


    Date 4 December 2008


    Time EMBARDOED TO 9:00am


    OCR reduced to 5.0 percent


    The Reserve Bank today reduced the Official Cash Rate (OCR) from 6.5
    percent to 5.0 percent.


    Reserve Bank Governor Alan Bollard commented that "ongoing financial
    market turmoil and the marked deterioration in the outlook for global
    growth have played a large role in shaping today's decision. Activity
    in most of our trading partners is now expected to contract or grow only
    very slowly over the next few quarters.


    "Economic activity in New Zealand will be further constrained as a
    result, compared with our view in October.


    "Inflation is abating here and overseas as a consequence of these
    developments. We now have more confidence that annual inflation will
    return comfortably inside the target band of 1 to 3 percent some time in
    the first half of 2009 and remain there over the medium term. However,
    we still have concerns that domestically generated inflation
    (particularly local body rates and electricity prices) is remaining
    stubbornly high.


    "Today's decision brings the cumulative reduction in the OCR since July
    to 3.25 percent, and takes monetary policy to an expansionary position.
    Given recent developments in the global economy, the balance of risks to
    activity and inflation are to the downside. Thus it is appropriate to
    deliver this reduction quickly to support the economy and keep inflation
    from falling below the target band.


    "Monetary policy is working together with the depreciation of the New
    Zealand dollar and the fiscal stimulus now in train, to provide
    substantial support to demand over the period ahead and to create the
    conditions for some rebound in growth as global conditions improve.
    "To ensure the response we are seeking, we expect financial institutions
    to play their part in the economic adjustment process by passing on
    lower wholesale interest rates to their customers.


    "Further movements in the OCR will be assessed against emerging
    developments in the global and domestic economies and the response to
    policy changes already in place."




    Media contact:

    Mike Hannah
    Head of Communications
    Ph 04 4713671, 021 497418, mike.hannah@rbnz.govt.nz
    Funny, I just got an email from Air NZ offering $750 USD flights from US to Auckland. Pretty cheap as I paid $1200 when I went to NZ a couple of year ago. NZ is sinking into an economic abyss......

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