Kiwi drops, Kiwi rises, Kiwi tracks sideways

All from the media this morning within 10 minutes, we get

Capxture

Captyure

Captzure

So let Whaleoil be the first to report: ¬†KIWI ALL OVER THE PLACE – NOBODY HAS A CLUE WHAT’S NEXT. ¬†

Anyone who needs to know what the currency is doing would surely be going to the source. ¬†By the time a newspaper article is published online (let’s not even think about a printed copy!), it’s already out of date.

Financial filler stories. ¬†Different day, different report. ¬†Doesn’t matter what it is. ¬†Either it rose, it fell, or it stagnated (tracked sideways!).

  • ConwayCaptain

    I am a small importer of specialist books. Not too long ago it was costing NZ$3 for 1 GBP. Now it is about NZ$2. This is not because the NZD has appreciated against the GBP it is because the BoE has PRINTED Gazillions of GBP and it has devalued. The same for the USD and the JPY.
    The NZ$ has remained reasonably steady against the AUD for the simple reason the Aus Reserve Bank has printed money like their big brothers. The world now is in a currency war because the BIG players want to get their currencies down to the lowest possible so that they can export more. The minnows in this like NZ and yes Aus can only just sit on the sidelines and watch.
    This is becoming a replay of the 1930′s. It is impossible to fathom which way the currency will go and even the so called experts have no idea. Remember George Soros bet against the GBP and look what happened and also a prominent NZ Pollie bet aganst the NZ$ when it f;loated and now he is worth NZ$50million..
    If the Greenies get their way and print money then there will be rampant inflation and rinterest rates will ibcrease, money will flood in and here we go again.

  • In Vino Veritas

    And then we have to put up with x University lecturer and xUK politician Bryan Gould spouting a pile of rubbish about how the Reserve Bank should be printing money because the UK, US and Japan all do it. The fact that Japan has been suffering from deflation for many years and along with the other two countries, have interest rates at, or bordering on zero seems to have escaped such an esteem economist. Never mind what printing money will do to the value of peoples wages and savings.

    • NoVictim

      Money Printing would be a good way to make your mortgages disappear, as inflation increases the value of your assets, relative to your original mortgage.

      • TeacherUnionsRscum

        No, value stays the same but it makes the principle on the mortgage less and less

        • NoVictim

          Sounds good to me, start the printing press

          • Patrick

            Just wait until I get my money out of NZ into a foreign currency please.

          • NoVictim

            Either that, or physical assets like property, gold etc

      • Gazzaw

        Haha. Get yourself a fixed rate mortgage first.

    • Patrick

      Gould is full of crap, former failed pommie Labour pollie, big time socialist who has lived off the public tit for his entire career & will no doubt bludge to the very end. Irrelevant cock why does he get the space in the media?

  • peterwn

    He he he – Bob Jones and his listed RJI got caught with 44 Wall St in 1987 or so (RJI handed the keys to the mortgagee and walked away), seems others may now be caught a few doors along – 50 Wall St.

  • cows4me

    The only real advantage we will ever have is that we can produce large amounts of food and people have to eat no matter how much toilet paper they print. We may have to except payment in other forms, goods, raw materials etc. Also it’s probably time to consider trading in a new reserve currency since Obummer seems hell bent on drowning the US in useless dollars.

  • Never in the dark…..

    Up, down, who cares? They still put the bloody petrol price up again.

  • http://twitter.com/AkulaUH J.M

    Volatility, just what the currency trader in me loves. Have made so much money since 2007 picking rate movements correctly.
    Intra day movement sure does fuck up the journos though, that’s for sure.

    • axeman

      Hint: Make sure you trade the opposite to what the bank FX “experts” predict in the NZ Horrid. Most of the time (medium/long term) the currency goes against them

      • http://twitter.com/AkulaUH J.M

        To be honest I almost never read what the ‘experts’ write re currency. They pull projections out of their collective arses

70%