March 20th, 2009
The Kiwi surged again overnight, posting strong gains against the majors as the markets continued to worry about yesterday’s Fed announcement.
The last 36 hours have not been kind to the USD, and whilst it has regained some strength this morning it has a long way to go if it is to recover the damage suffered. Read Full Article »
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| tags:global market, kiwi, reserve currency, STI, Trade Balance, USD
March 19th, 2009
The Kiwi has jumped up this morning against the USD, as the equity markets surge following the Fed’s latest rate decision.
As anticipated the Fed has kept the US rates on hold at 0-0.25%, a level that they now see as being held for “an extended period”. This was not a surprise, but the accompanying announcement was – the US Fed is to buy up to $300 billion USD worth of longer-term US government debt, as well an additional $850 billion USD worth of debt and securities issued by the government-backed mortgage finance agencies. Read Full Article »
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March 18th, 2009
The Kiwi starts today in a very similar position to yesterday’s opening levels after a day of range-bound trading.
With no major data releases for the rest of the week, the Kiwi was forced to follow the market during the local session, which saw little movement. Little was gained from the release of the RBA’s minutes from their meeting earlier this month – the document showed that the RBA was content to adopt a wait-and-see approach towards the effects of its previous easing, and offered no real insight to the timing and scale of future movements. Read Full Article »
Share this article: | tags:kiwi, rally, RBA, Trade Balance
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