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


Kiwi Crunch on the Radar!

Media Release

Mar 12, 2014

Kiwi Crunch on the Radar!


Up/Down punters with leading Australasian financial market-maker are gearing up to plunge record bet numbers on the Kiwi Dollar against the Aussie either side of tomorrow morning’s critical RBNZ Interest Rate decision.

With almost all of the cash rate market pricing in a 25 point rate hike tomorrow morning from the NZ Central Bank, punters have already started betting up on the Kiwi as it rose against a slumping Aussie dollar in early morning action today!

The AUD’s slow recovery - after slumping to 1.05800 around 7am (AESDT) this morning from around 1.06600 NZD through the middle of yesterday – was snapped minutes ago when the monthly Westpac Consumer Confidence survey fell 0.7% from 100.2 last month to 99.5 in an eight-month low!

The Aussie Dollar immediately fell back from 1.06080 to 1.05940 against the Kiwi.

“Up/Down punters successfully bet down last night on the AUD/NZD pair; but as the Aussie claws back some ground, we are expecting record volumes over the next 24 hours through the Cash Rate announcement and subsequent Monetary Policy Statement from the NZ Reserve,” WhichWay’s Analyst and Media Chief Neil Evans said.

“The Kiwi/Aussie continues to be one of the heaviest bet and traded currency pairs for #Forex and #Up/Down players, and there appears to be a ‘positioning’ pattern from our clients to say the Kiwi Dollar could surge again if the expected quarter per cent rate hike to 2.75% arrives!”

Evans said the latest financial polling had around 90 per cent pricing in a rate increase, with many forecasting multiple increases throughout 2014.

“Cash Rate markets were seemingly set on a March hike once it was clear heading into the February decision the Reserve would sit on its hand for a further month, and NZ home owners are reportedly now fixing their mortgage rates in much bigger numbers,” he added.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news