Nzd/us

[nravo]

Hey, you longs may very well be right and with NZ possibly raising rates ... I close my position tonight (Sydney time). Small (30 tick) profit on the March futures. If it runs much past 71, I may be back.

 

[AnnaFX]

are the AUD and NZD related? or does geographic proximity play no role with these two?

 

[risktaker989]

they are closely related in the sense that both economies depend a lot on commodity exports in the Asia-Pacific region.

one distinguishing element in Australia's economy that plays a role is Gold...they're a big producer/exporter of it. so in some ways their economy is tied to the movement of Gold prices on the open market.

 

[R Rover]

Quote from nravo:

Hey, you longs may very well be right and with NZ possibly raising rates ... I close my position tonight (Sydney time). Small (30 tick) profit on the March futures. If it runs much past 71, I may be back.

You were right , nravo , good call !
I hope that you went short again

 

[nravo]

Quote from R Rover:

You were right , nravo , good call !
I hope that you went short again

A shoulda, woulda coulda. (I could have retired -- again -- if I wanted to plow everythinginto that trade!) I was just expecting a dip before the BNZ meeting, not the long-awaited meltodown. Thus I made enough to help cover my Long US positions and IRA losses. Down 1% across all accounts for the year, sad to say. But it could be worse.