meeeeeeeowwwwwwww NZ dollar in freefall predictions of where it will hit the ground!!
Sep 21st 2006, 8:05 am
#136
BE Enthusiast
Joined: Apr 2005
Location: Eastbourne, Wellington!
Posts: 874
Re: meeeeeeeowwwwwwww NZ dollar in freefall predictions of where it will hit the grou
Originally Posted by cottageinthesky
If no one else is already doing so, sounds a very good idea! Do you know if anyone is doing so?
Dave
Sep 25th 2006, 6:34 pm
#137
BE Enthusiast
Joined: May 2005
Location: In a house very close to the beach
Posts: 984
Re: meeeeeeeowwwwwwww NZ dollar in freefall predictions of where it will hit the grou
The NZ$ v AUS$ is looking good for people who are going to go to Oz on Holiday 
Oct 23rd 2006, 4:03 am
#138
Just Joined
Joined: Dec 2005
Location: Nelson NZ
Posts: 26
Re: meeeeeeeowwwwwwww NZ dollar in freefall predictions of where it will hit the ground!!
Hi,
Any comments on predictions for the NZ dollar over the next few months? There is talk of interest rates rising even further, and the NZ dollar has had considerable backing from Japanese bond buyers, I can't see it reaching anywhere near the predictions posted earlier (several months ago now) on this thread. I'm trying to figure out now that we are in here New Zealand, if I should keep money in the UK that isn't needed immediately.
Regards.
Any comments on predictions for the NZ dollar over the next few months? There is talk of interest rates rising even further, and the NZ dollar has had considerable backing from Japanese bond buyers, I can't see it reaching anywhere near the predictions posted earlier (several months ago now) on this thread. I'm trying to figure out now that we are in here New Zealand, if I should keep money in the UK that isn't needed immediately.
Regards.
Nov 14th 2006, 8:42 am
#139
BE Enthusiast
Joined: Feb 2006
Posts: 440
Re: meeeeeeeowwwwwwww NZ dollar in freefall predictions of where it will hit the grou
Originally Posted by Paladin
No idea!!!
Dave
Dave
Cheers
Ash
Nov 14th 2006, 8:48 am
#140
BE Enthusiast
Joined: Apr 2005
Location: Eastbourne, Wellington!
Posts: 874
Re: meeeeeeeowwwwwwww NZ dollar in freefall predictions of where it will hit the grou
Originally Posted by Ash1
Hi Dave, as you may have seen on another forum , my family and I are on our way to NZ in the next few weeks. I was going to ask your thoughts on the way you expect the exchange rates to go over the next few weeks as we have to change up rather a large amount?
Cheers
Ash
Cheers
Ash
I looked at the Weekly Chart of the GBP/NZD this morning. There is significant resistance at $2.9000 level for price to go higher. After that $3.00 will offer resistance and ultimately there needs to be a close above $3.06 for the next bullish uptrend part for the GBP to be confirmed. The Fibonacci 38.2% retracement is ALSO in the $2.90 area.
i would say with things static in NZ and no additional interest rate rise in UK expected til '07, the rate is likely to bobble along sideways for a while. If I needed to exchange in very short term and could get $2.90 I'd be happy. in the longer term I would say the NZ$ will be weakening from here so its all down to what timeframe you are on really!
Unless you're exchanging millions the difference between $2.9 and $3.0 won't make that much difference to you I would have thought!
Nov 14th 2006, 8:55 am
#141
BE Enthusiast
Joined: Feb 2006
Posts: 440
Re: meeeeeeeowwwwwwww NZ dollar in freefall predictions of where it will hit the grou
Originally Posted by Paladin
Geez haven't seen this thread for a while LOL!!!!!
I looked at the Weekly Chart of the GBP/NZD this morning. There is significant resistance at $2.9000 level for price to go higher. After that $3.00 will offer resistance and ultimately there needs to be a close above $3.06 for the next bullish uptrend part for the GBP to be confirmed. The Fibonacci 38.2% retracement is ALSO in the $2.90 area.
i would say with things static in NZ and no additional interest rate rise in UK expected til '07, the rate is likely to bobble along sideways for a while. If I needed to exchange in very short term and could get $2.90 I'd be happy. in the longer term I would say the NZ$ will be weakening from here so its all down to what timeframe you are on really!
Unless you're exchanging millions the difference between $2.9 and $3.0 won't make that much difference to you I would have thought!
I looked at the Weekly Chart of the GBP/NZD this morning. There is significant resistance at $2.9000 level for price to go higher. After that $3.00 will offer resistance and ultimately there needs to be a close above $3.06 for the next bullish uptrend part for the GBP to be confirmed. The Fibonacci 38.2% retracement is ALSO in the $2.90 area.
i would say with things static in NZ and no additional interest rate rise in UK expected til '07, the rate is likely to bobble along sideways for a while. If I needed to exchange in very short term and could get $2.90 I'd be happy. in the longer term I would say the NZ$ will be weakening from here so its all down to what timeframe you are on really!
Unless you're exchanging millions the difference between $2.9 and $3.0 won't make that much difference to you I would have thought!
Wow,
Quick response. Thanks.
Basically I have to transfer 1 million NZ dollars.My time frame is by Jan 12th. Scarey.
Ash
Nov 14th 2006, 9:04 am
#142
BE Enthusiast
Joined: Apr 2005
Location: Eastbourne, Wellington!
Posts: 874
Re: meeeeeeeowwwwwwww NZ dollar in freefall predictions of where it will hit the grou
Originally Posted by Ash1
Wow,
Quick response. Thanks.
Basically I have to transfer 1 million NZ dollars.My time frame is by Jan 12th. Scarey.
Ash
Quick response. Thanks.
Basically I have to transfer 1 million NZ dollars.My time frame is by Jan 12th. Scarey.
Ash
At the end of the day you have a fairly short time frame so you may want to decide what "rate" you would be happy with and as soon as your foreign exchange dealer can offer that to you on a Forward Contract, just take it to ensure you get it at least even if the rate goes back down a bit!!!
Nov 14th 2006, 9:14 am
#143
BE Enthusiast
Joined: Feb 2006
Posts: 440
Re: meeeeeeeowwwwwwww NZ dollar in freefall predictions of where it will hit the grou
Originally Posted by Paladin
OK if you are transferring that amount the $0.10 difference between $2.90 and $3.00 is a BIT more significant so you want to pay attention to the currency charts more closely.
At the end of the day you have a fairly short time frame so you may want to decide what "rate" you would be happy with and as soon as your foreign exchange dealer can offer that to you on a Forward Contract, just take it to ensure you get it at least even if the rate goes back down a bit!!!
At the end of the day you have a fairly short time frame so you may want to decide what "rate" you would be happy with and as soon as your foreign exchange dealer can offer that to you on a Forward Contract, just take it to ensure you get it at least even if the rate goes back down a bit!!!
Thanks Dave
Nov 14th 2006, 9:23 am
#144
BE Enthusiast
Joined: Apr 2005
Location: Eastbourne, Wellington!
Posts: 874
Re: meeeeeeeowwwwwwww NZ dollar in freefall predictions of where it will hit the grou
Originally Posted by Ash1
Thanks Dave
Like I said, at the moment $2.90 is looking pretty solid resistance in the short term, so if you can get $2.90 or very close to it my guess is that might be OK for short term exchange requirement!
At the end of the day, you've gotta decide what rate you can be happy with and then just go for it!!!
Nov 14th 2006, 9:29 am
#145
BE Enthusiast
Joined: Feb 2006
Posts: 440
Re: meeeeeeeowwwwwwww NZ dollar in freefall predictions of where it will hit the grou
Originally Posted by Paladin
No problem! Always happy to try & help!
Like I said, at the moment $2.90 is looking pretty solid resistance in the short term, so if you can get $2.90 or very close to it my guess is that might be OK for short term exchange requirement!
At the end of the day, you've gotta decide what rate you can be happy with and then just go for it!!!
Like I said, at the moment $2.90 is looking pretty solid resistance in the short term, so if you can get $2.90 or very close to it my guess is that might be OK for short term exchange requirement!
At the end of the day, you've gotta decide what rate you can be happy with and then just go for it!!!
I noticed the other week when the NZ interest rates didn`t go up , it had quite a significant impact on the exchange rate. I was wondering if it doesn`t go up next month and with the current rate being close to 2.89 if it might push through the 2.9?
Ash
Nov 14th 2006, 9:40 am
#146
BE Enthusiast
Joined: Apr 2005
Location: Eastbourne, Wellington!
Posts: 874
Re: meeeeeeeowwwwwwww NZ dollar in freefall predictions of where it will hit the grou
Originally Posted by Ash1
I noticed the other week when the NZ interest rates didn`t go up , it had quite a significant impact on the exchange rate. I was wondering if it doesn`t go up next month and with the current rate being close to 2.89 if it might push through the 2.9?
Ash
Ash
Its certainly possible. There's no telling til it happens which is why I always say take a rate you can be happy with - it could go up OR down!!!!!
Nov 14th 2006, 3:11 pm
#147
Joined: May 2005
Posts: 5,763
Re: meeeeeeeowwwwwwww NZ dollar in freefall predictions of where it will hit the grou
Dave, another question for you. 
On average, how many hours a day do you work? And are you the main breadwinner? Yep I'm nosey by nature.
On average, how many hours a day do you work? And are you the main breadwinner? Yep I'm nosey by nature.
Nov 14th 2006, 3:29 pm
#148
BE Enthusiast
Joined: Apr 2005
Location: Eastbourne, Wellington!
Posts: 874
Re: meeeeeeeowwwwwwww NZ dollar in freefall predictions of where it will hit the grou
Originally Posted by Maz
Dave, another question for you. On average, how many hours a day do you work? And are you the main breadwinner? Yep I'm nosey by nature.
On average, how many hours a day do you work? And are you the main breadwinner? Yep I'm nosey by nature. I work 6.45/7am GMT onwards as the Frankfurt market opens 7am and London 8am. I can make the money I need in the morning(by 10.30/11am usually) from currency trading for paying our bills, BUT I work all day til 5pm or so at the moment as I'm saving up for a rather large expense or two over the next 10 months, LOL!!
Plus I'm also trying to steadily put money away into a certain asset to counter act inflation and the deterioration in purchasing power of my paper money, LOL!
Dave
Nov 14th 2006, 3:32 pm
#149
Joined: May 2005
Posts: 5,763
Re: meeeeeeeowwwwwwww NZ dollar in freefall predictions of where it will hit the grou
Originally Posted by Paladin
I'm the sole breadwinner, Mrs P. works as a full time mum LOL!
I work 6.45/7am GMT onwards as the Frankfurt market opens 7am and London 8am. I can make the money I need in the morning(by 10.30/11am usually) from currency trading for paying our bills, BUT I work all day til 5pm or so at the moment as I'm saving up for a rather large expense or two over the next 10 months, LOL!!
Plus I'm also trying to steadily put money away into a certain asset to counter act inflation and the deterioration in purchasing power of my paper money, LOL!
Dave
I work 6.45/7am GMT onwards as the Frankfurt market opens 7am and London 8am. I can make the money I need in the morning(by 10.30/11am usually) from currency trading for paying our bills, BUT I work all day til 5pm or so at the moment as I'm saving up for a rather large expense or two over the next 10 months, LOL!!
Plus I'm also trying to steadily put money away into a certain asset to counter act inflation and the deterioration in purchasing power of my paper money, LOL!
Dave
My hubby, whose skill isn't needed so much in NZ, is wondering what he can do if he doesn't get back into tool-and-die making over there... Huh, a "certain asset" eh? I wonder what that could possibly be.
Nov 14th 2006, 3:39 pm
#150
BE Enthusiast
Joined: Apr 2005
Location: Eastbourne, Wellington!
Posts: 874
Re: meeeeeeeowwwwwwww NZ dollar in freefall predictions of where it will hit the grou
Originally Posted by Maz
Cool, thanks so much, Dave. My hubby, whose skill isn't needed so much in NZ, is wondering what he can do if he doesn't get back into tool-and-die making over there...
Huh, a "certain asset" eh? I wonder what that could possibly be.
My hubby, whose skill isn't needed so much in NZ, is wondering what he can do if he doesn't get back into tool-and-die making over there... Huh, a "certain asset" eh? I wonder what that could possibly be.
Yes, I wonder what that could be!!!!
The other reason I am working longer hours at the moment is that i am mentoring a friend who is a Kiwi who is learning how to trade currencies so that when he moves back to NZ in May, he can trade the FOREX for a living!!!!
Making a living from trading Forex is a numbers game; If you need $xxx per month income, and you will take on average yyy% risk per trade then you need $zzz capital and trade a certain number of Lots for a target of so much per day! I'm teaching my friend to base everything on a low number of PIPS(each 0.0001 movement in the rate is a PIP) profit per day so there's minimal stress and max upside!