My two favorite pairs as of late. I'd like to open a discussion (if some of you are willing) on the Kiwi and it's behavior as of late. I'm bearish on the Kiwi, as rates are set to be cut some time in the 4th quarter according to analysts. I actually believe a rate cut will come sooner, and the market has yet to price in a rate cut coming sooner.
I think the RBNZ hiked too fast, and put too much strain on the economy. Releases coming out are decidedly horrible, and commodity prices for this week are set to fall again. Technically, all indicators point down, except for an oversold daily, which is partially corrected by the latest bounce. I think it's a great short where it is now, and I've gone ahead and shorted it (6150) to the tune of a million units. We see how this pans out...
Anyone have thoughts?
I think the RBNZ hiked too fast, and put too much strain on the economy. Releases coming out are decidedly horrible, and commodity prices for this week are set to fall again. Technically, all indicators point down, except for an oversold daily, which is partially corrected by the latest bounce. I think it's a great short where it is now, and I've gone ahead and shorted it (6150) to the tune of a million units. We see how this pans out...
Anyone have thoughts?