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

 

Scoop Business: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Scoop Business: NZ Broadcasters Launch Battle Against Global Mode ISPs

New Zealand broadcasters have confirmed they’ve launched legal proceedings against internet service providers who give customers’ access to “global mode”, which allows customers access to offshore online content, claiming it breaches the local content providers’ copyright. More>>

ALSO:

Sanford: Closure Of Christchurch Mussel Processing Plant Confirmed

The decision comes after a period of consultation with the 232 staff employed at the Riccarton site, who were told on 9 April that Sanford was considering the future of mussel processing in Christchurch. Recent weather patterns had impacted on natural spat (offspring) supply... More>>

ALSO:

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Scoop Business: Reserve Bank’s Spencer Calls On Govt To Rethink Housing Tax

The Reserve Bank has urged the government to take another look at a capital gains tax on investment in housing, allow increased high-density development and cut red tape for planning consents to address an over-heated Auckland property market. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news