Kiwi spared as RBNZ holds rates

Sep 25 04:09 2019 Print This Article

 

NZD/USD rises for a third day

The New Zealand dollar was spared a drubbing that would have come if the Reserve Bank of New Zealand had surprised the markets with another rate cut this morning. The NZD/USD pair looks set for a third daily advance, the last time this happened was the beginning of the month, and has rallied to the highest level in a week. Most of yesterday’s gains were on the back of a weaker US dollar after impeachment proceedings were announced against US President Donald Trump.

 

NZD/USD Daily Chart

Source: OANDA fxTrade

 

More uncertainty around Brexit

The UK Supreme Court deemed Boris Johnson’s suspension of Parliament for five weeks unlawful. The decision means the UK Members of Parliament have to return to work, five weeks ahead of the October 31 Brexit deadline. It is likely that there will not be enough time to pass any kind of anti-no deal legislation before the deadline, but the ruling just increases the uncertainty about what is going to happen come the end of next month. Boris Johnson remained defiant, saying he would respect the ruling, but it was not right. Ha said Brexit would be delivered by October 31.

Read More

About Article Author

Market Pulse

Established in 2006, MarketPulse is a free news site that provides full-time coverage of the world's largest financial markets, focusing on forex, commodities, and global indices research and analysis. Armed with a global team of securities analysts and strategists, Market Pulse provides timely, accurate, and informative research on major macroeconomic trends, technical analysis, and worldwide events that impact different asset classes and investors.

Related Items

Precipitate Gold $PRG.V $PREIF Adds Major Barrick Gold $GOLD as Shareholder

Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in the Pueblo Viejo Mining Camp and Tireo Gold Trend of the Dominican Republic. Precipitate is also actively evaluating additional high-impact property acquisitions with the pot ...

Biggest Gold Asset in S. America Got New CEO with Great M&A Record

During this quarantine I have been blessed to speak to some extremely successful entrepreneurs in the mining sector.  It has been during this pandemic crisis that opportunities arise for astute investors who can think quickly.   Many smart investors who left the mining sector to real estate, cann ...

SPX -- Scaling Out Of This Rally

Even in a fully traumatic longer term crash, The initial rally can cut the first leg of thedecline by half. That would be around 2800 on the SPX . The 2800 level also would equatewth fair value under fully normal conditions. We are far from normal times, so it is time forme to exit and concentrate o ...

Model Risk Management as Algo Trading Expands

The FICC Market Standards Board Ltd. (FMSB) is a London-based standards body for participants in the wholesale fixed income, currencies, and commodities (FICC) markets. It has been looking into the root causes of market misconduct, and pursuant to that research it recently published a report on the ...

The right thing

First, a reminder. This is a financial blog. Well, okay, it’s also a canine blog with special emphasis on marital relationships, hormonal urges and why real men change their oil. But finances, the economy, real estate, tax avoidance and portfolios – that’s the main menu. So stick with it. O ...

REITs And Bonds Rose Last Weeks As Global Stocks Fell

Coronavirus-related selling took a toll on equity markets last week (and more of the same is in store for today). But in a striking bit of defiance, US real estate investment trusts (REITs) bucked the trend last week, posting the strongest gain for the major asset classes for trading through Friday ...

COVID-19: The ultimate identity politics?

Political Action Human beings always aspire to be part of something larger. There's the family but it's limited, they want a level beyond that. So they find other entities to feel they belong to, like nations, religions, movements or generations. Very often -- most of the time -- those involve ...

ECB's Bazooka Support Bonds but not the Euro

Overview: It is not just that the dollar soared while stocks and bonds continued to plunge.  The dollar's strength is, in effect, a powerful short-covering rally.  It was used to fund a great part of the global circuit of capital.  The circuit of capital is in reverse now, and the funding cu ...

Stat Arb, Algos and the Difference Between Cats and Dogs

A co-founder of Quantigic Solutions has presented what he calls “the freshmanlevel” answer to the question: why did dollar-neutral quant trading strategies, such as equities stat arb, fail so markedly during the COVID-19 market sell-off? Zura Kakushadze, a professor at the Free University of Tbl ...

IMCO's Big Stake in Apollo's New Fund

Christine Idzelis of Institutional Investor reports that Apollo took just two months to raise a credit fund that seeks to profit from tumultuous markets — and it got a swift and significant contribution from Canadian pension manager IMCO:When Apollo Global Management approached the Investment Man ...