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!

AUD/NZD


Up/Down punters with leading Australasian financial market-maker WhichWay.com 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

 

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Gordon Campbell: On The Australians Scoring Trade Points Against Us With The Chinese

It hasn’t been a great year for Trade Minister Tim Groser... To top it off, Australia has just signed a FTA with China that has far better provisions on dairy exports than what New Zealand currently enjoys in our own FTA with China. More>>

ALSO:

Iwi & Local Consultation: Oil And Gas Block Offer 2015 Begins

Energy and Resources Minister Simon Bridges today announced the start of the Block Offer 2015 process for awarding oil and gas exploration permits. More>>

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news