Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


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

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half Full: Dairy Payouts Steady, Cash Will Be Tight

Industry body DairyNZ is advising farmers to focus on strong cashflow management as they look ahead to the 2015-16 season following Fonterra's half-year results announcement today. More>>

ALSO:

First Union: Cotton On Plans To Use “Tea Break” Law

“The Prime Minister reassured New Zealanders that ‘post the passing of this law, will you all of a sudden find thousands of workers who are denied having a tea break? The answer is absolutely not’... Cotton On is proposing to remove tea and meal breaks for workers in its safety sensitive distribution centre. How long before other major chains try and follow suit?” More>>

ALSO:

Scoop Business: NZ-Korea FTA Signed Amid Spying, Lost Sovereignty Claims

A long-awaited free trade agreement between New Zealand and South Korea has been signed in Seoul by Prime Minister John Key and the Korean president, Park Geun-hye. More>>

ALSO:

PM Visit: NZ And Viet Nam Agree Ambitious Trade Target

New Zealand and Viet Nam have agreed an ambitious target of doubling two-way goods and service trade to around $2.2 billion by 2020, Prime Minister John Key has announced. More>>

ALSO:

Scoop Business: NZ Economy Grows 0.8% In Fourth Quarter

The New Zealand economy expanded in the fourth quarter as tourists drove growth in retailing and accommodation, and property sales increased demand for real estate services. More>>

ALSO:

Scoop Business: RBNZ’s Wheeler Keeps OCR On Hold, No Rate Hikes Ahead

The Reserve Bank has removed the prospect of future interest rate hikes from its forecast horizon as a strong kiwi dollar and cheap oil hold down inflation, and the central bank ponders whether to lower its assessment of where “neutral” interest rates should be. The kiwi dollar gained. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news