Kiwi in Flight
It’s been a long time coming. Of the major currencies commonly traded, there have been no interest rate increases since 2010 when Australia last increased its overnight rates. Australian rates didn’t last long at those levels and were reduced in stages soon afterwards, matching the other major economies. This time though, things feel different. On Wednesday evening this week, the Reserve Bank of New Zealand announced a rise in interest rates from 2.5% to 2.75% (well, Thursday morning in New Zealand at the time). An interest rate increase in any of the major currencies is as rare as New...
Read MoreSpring arrived this week
You may have heard that the British spend a lot of time talking about the weather. It’s true. But there is another nation that beats us on this score, the USA. In my view, they spend more time discussing the weather in the USA. They even have a dedicated weather channel on TV. Anyone following the US weather will be aware of their big winter freeze this year with exceptionally low temperatures. In her recent testimony to Congress, even Janet Yellen spoke of the impact of the freezing weather on economic activity in the USA. She mentioned that more data is needed as it is difficult to...
Read MoreMy 5 Favourite Traders
It’s always interesting to see the trades that other people are making and the advice that they are giving. Here are my 5 favourite traders on Twitter at the moment, please note they are in no particular order. The first is @MWellerFX. Matt Weller is a global market strategist and has been actively trading since 2005. Enthralled by the liquidity and the accessibility of the market, Mr Weller now offers timely updates on a vast range of currency pairs. Follow him now for great guidance. @break_retrace3. Howard Friend also offers information on his trading activities, giving...
Read MoreOut of the Woods
The non-farm payroll (NFP) figures a week ago did not suggest to me that we are out of the woods just yet. After strong numbers for several months on the spin, January’s low numbers weren’t significantly revised upwards and the numbers for February came in on the low side. This suggests that while growth in the world’s largest economy is continuing, it is not doing so at the pace set last quarter. This is two months of lower than expected jobs growth. Not the end of the world by any means, as it is only two months of data. Maybe the frozen weather conditions are slowing the rate of growth?...
Read MoreMy Top 3 Trading Apps
In a world where everyone is constantly on the move, I have found that apps on smart phones are a great way to constantly keep up to date with rates, charts and even the local currency rates when you’re overseas. Here are my top 3 trading apps at the moment: 1. XE Currency – This is extremely user friendly and easy to use. It offers the user live information on market rates as well as daily, weekly, monthly and even yearly charts on currency pairs. It’s extremely popular with over 20 million downloads worldwide. 2. Citi Foreign Exchange Rates – This another easy to...
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