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Binary Blitz hammers the Kiwi ahead of crunch Rate Decision!

January 29, 2014

Binary Blitz hammers the Kiwi ahead of crunch Rate Decision!

Binary punters with leading Australian on-line and forex market-maker WhichWay.com are riding a drop in value for the Kiwi Dollar against the Aussie as the Trans-Tasman financial world awaits a crucial Interest Rate decision tomorrow morning from the Reserve Bank of New Zealand!

The top Binary operator in Australia said three out of four punters were now trading UP for $1.80 pay-outs on the AUD in shorter to medium expiry times against the NZD.

Shortly before lunch on Wednesday (Jan 29) the Aussie was buying 1.0640 Kiwi having risen from a tick over 1.06.10 earlier this morning.

WhichWay.com’s PR and media chief Neil Evans said the Aussie/Kiwi currency pair had become one of the most popular Binary assets late 2013 and into the New Year, with a record number of trades made.

“The flourishing Kiwi dollar and volatility around the Aussie – together with the fact we are NZ’s second-biggest trading partner – has seen an incredible UP/DOWN Binary interest on this pair,” Evans said. “But in the last 24 hours we’ve seen a number of clients want to trade DOWN on the Kiwi in and around the RBNZ decision tomorrow morning.”

The Kiwi Dollar recently hit eight-year highs against the Aussie, and earlier this week the AUD/NZD pair was around 1.05, but it’s slowly crept up to 1.0640, and according to WhichWay.com Binary clients it could be closer to 1.07 by tonight.

Evans said the market reaction over the last 24 hours “virtually put to bed” any immediate thoughts the Kiwi would reach parity with the Australian Dollar, last occurring way back in 1973 under fixed market conditions.

“Since late last year, a hiking of the official NZ cash rate was well on the cards in late January, but there now seems some momentum for the figure to remain, and obviously if the Central Bank stayed put, further wind would go out of the Kiwi’s sails,” Evans added.

About WhichWay
Our aim is to make trading simpler. Our mission is to provide the best possible user experience for every type of trader. We offer market leading technology and pricing across all our trading platforms. We are proudly Australian owned, operated from Sydney and regulated by ASIC. Join us today on www.WhichWay.com and find out for yourself.

ENDS

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