NZ$ vs £
Apr 19th 2007, 10:29 am
#121
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Re: NZ$ vs £
Don't even get me started on the Totalitarian Regime in the States mate!!
Have you seen the "America: Freedom to Fascism" video yet?
Its so SPOT ON!!
Apr 19th 2007, 10:59 am
#122
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Re: NZ$ vs £
OK, when I reach 800 posts if you want a REGULAR update on currencies/exchange rates/economy and maybe occasional rants about the financial system & government, they will be occurring elsewhere!!!! 
Dave
Dave
Apr 19th 2007, 11:03 am
#123
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Re: NZ$ vs £
If you know where to look that is!!!!
Apr 19th 2007, 11:04 am
#124
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Re: NZ$ vs £
Probably tied into somewhere with lots of other useful info on aussie and kiwi life i'd guess!!!!
Apr 20th 2007, 6:48 am
#126
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Apr 20th 2007, 10:05 am
#127
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Re: NZ$ vs £
OMG USA Totalitarian regime ?What did the Romans ever do for us ?
Only listen to "Paladin" if you can afford to lose substantial amounts of your hard-earned savings. Gold has only increased very slightly , if at all, over the last year , it is only good for hedging for holders of USD. When the US economy turrns the corner and the USD starts to strengthen, Gold will plunge !! You have been warned. Gold will only increase in value (For Americans) while the US Dollar value is dropping. Only a fright in world security will make the Gold Price up . The Sun was slagging off the EURO in a similar vain , a few years back
Only listen to "Paladin" if you can afford to lose substantial amounts of your hard-earned savings. Gold has only increased very slightly , if at all, over the last year , it is only good for hedging for holders of USD. When the US economy turrns the corner and the USD starts to strengthen, Gold will plunge !! You have been warned. Gold will only increase in value (For Americans) while the US Dollar value is dropping. Only a fright in world security will make the Gold Price up . The Sun was slagging off the EURO in a similar vain , a few years back
Last edited by brussels_sprout; Apr 20th 2007 at 10:07 am.
Apr 20th 2007, 10:39 am
#128
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Location: Eastbourne, Wellington!
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Re: NZ$ vs £
OMG USA Totalitarian regime ?What did the Romans ever do for us ?
Only listen to "Paladin" if you can afford to lose substantial amounts of your hard-earned savings. Gold has only increased very slightly , if at all, over the last year , it is only good for hedging for holders of USD. When the US economy turrns the corner and the USD starts to strengthen, Gold will plunge !! You have been warned. Gold will only increase in value (For Americans) while the US Dollar value is dropping. Only a fright in world security will make the Gold Price up . The Sun was slagging off the EURO in a similar vain , a few years back
Only listen to "Paladin" if you can afford to lose substantial amounts of your hard-earned savings. Gold has only increased very slightly , if at all, over the last year , it is only good for hedging for holders of USD. When the US economy turrns the corner and the USD starts to strengthen, Gold will plunge !! You have been warned. Gold will only increase in value (For Americans) while the US Dollar value is dropping. Only a fright in world security will make the Gold Price up . The Sun was slagging off the EURO in a similar vain , a few years back
OK lets clear this up once and for all..... Brussel Sprout is totally full of it! He has picked a specific short term time period of 1 year to counter an argument about the reasons to hold gold long term - duh!!! Utter stupidity!!!!
Since the final end of the gold standard in 1971 when gold was ~ $40 per ounce, gold has risen to a high of $730 last May and is currently ~$690!!!! Any set of dates picked is meaningless as a different set of dates yields a different result and his comments of the past are irrelevent to todays fundamental conditions FOR HOLDING GOLD LONG TERM!!!!
Secondly his comments about the gold hedge only being relevant to the US Dollar is totally erroneous - since all paper fiat currencies are losing value due to inflation of the money supply in their respective countries and thus they too are gaining in gold priced in their own currency!
I just liquidated some gold coins(1oz Krugerrands which are 22 carat) in order to transfer holdings into 24 carat 1 oz coins(Maples & Kiwi's) so they will be non-subject to GST in NZ. I bought within the last year at £295/oz and sold at £343/oz = 15%+ profit!!!!!!!!!!!!!!!! So there's just one example of why he is totally full of sh1te!!!
DO NOT LISTEN TO HIM - GO AND DO YOUR OWN INDEPENDENT RESEARCH!!!!!
Dave
p.s. who do you think is more likely to know what they are talking about? A qualified fund manager and trained economist who reads 1000's of economic reports and gold/currency market analysis reports every year, or someone who isn't and doesn't!!!! You decide!!!
PLEASE take my advice - go and do your own independent research!!!
Last edited by Paladin; Apr 20th 2007 at 11:20 am.
Apr 20th 2007, 11:17 am
#129
Joined: Apr 2007
Posts: 1,454
Re: NZ$ vs £
So should I hold gold or just chuck it away?
Confused, Wellington
Confused, Wellington
Apr 20th 2007, 11:21 am
#130
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Apr 20th 2007, 11:35 am
#132
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Re: NZ$ vs £
Hi Kip,
The good news is I'm a self-trained economist in the Austrian School of Economics vein ( http://www.mises.org/ ), so I won't be spouting neo-keynsian crap to anyone! If you haven't had the chance to read any Murray N. Rothbard yet, I'd highly recommend him, and of course Von Mises & Hayek are well known, hell Milton Friedman was almost Austrian School in his thinking and he's no slouch LOL! If you want any particular Rothbard books recommended, just PM me!
Dave
Last edited by Paladin; Apr 20th 2007 at 11:42 am.
Apr 20th 2007, 3:30 pm
#133
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Re: NZ$ vs £
I thought this article interesting...
N.Z. Dollar Rises to Highest in 22 Years on Faster Inflation
By Emma O'Brien and Tracy Withers
April 18 (Bloomberg) -- The New Zealand dollar rose to the strongest in 22 years after a report showed inflation was almost twice the pace the central bank predicted, boosting the prospect of higher interest rates.
The consumer prices index rose 0.5 percent from the fourth quarter, according to a Statistics New Zealand report today in Wellington. The record 7.5 percent official cash rate has helped the local dollar, known as the kiwi, gain 19 percent in the past year, the most among the 16 most-actively traded currencies.
``It's made it more likely the Reserve Bank will have to raise rates and do more down the track,'' said John Kyriakopoulos, a currency strategist at National Australia Bank Ltd. in Sydney. ``That's given the kiwi another boost to go through record highs.''
New Zealand's dollar bought 74.83 U.S. cents at 3:36 p.m. in Wellington, from 74.53 cents before the report's release and 74.01 cents in Asia yesterday. It traded as high as 74.91, the strongest since being allowed to trade freely in March 1985. It was last higher in June 1982.
Reserve Bank of New Zealand Governor Alan Bollard next reviews rates on April 26. There's a 66 percent chance of an increase, according to a Credit Suisse index based on overnight trading of interest-rate swaps.
Not Sustainable
The local currency will weaken as investors see it isn't sustainable for a country with a large current-account deficit, New Zealand Trade Minister Phil Goff said in an interview from the Cairns Group meeting in Pakistan. The deficit was NZ$14.45 billion ($10.7 billion) in 2006.
``People will look at the reality of the balance of payments deficit of 9 percent and say this isn't sustainable and the level of the currency is not sustainable,'' Goff said.
The New Zealand dollar's appreciation is hurting company profits, including Sanford Ltd., the nation's largest publicly traded fishing company, and Click Clack Ltd., a local plastics manufacturer.
First-half profit fell because the stronger New Zealand dollar is ``decimating'' earnings, Sanford said yesterday. Click Clack, which exports about 85 percent of its production, April 4 said it was closing one plant and cutting 70 jobs because the rising currency made it less profitable.
`Stern Challenge'
Finance Minister Michael Cullen yesterday said the local dollar is ``persistently high,'' in a speech in Westport, in the South Island, adding it presented a ``stern challenge'' to exporters.
The currency also rose to the highest since September 1990 against the yen, trading at 88.68 from 88.40 yen yesterday. Japan's benchmark rate is 0.5 percent, the lowest among major economies, encouraging investors to borrow to invest in New Zealand deposits, bonds and stocks.
``High yielders are the entree, main course and dessert of financial markets at the moment,'' Alex Sinton, currency trader at ANZ National Bank Ltd. in Auckland said.
Bollard last raised the benchmark rate on March 8, when he said further increases may be necessary to cool consumer demand, particularly for housing. House-price inflation accelerated to a six-month high of 9.8 percent in March from a year earlier, according to an April 16 report from Quotable Value New Zealand Ltd., the government valuation agency.
Running Too Hot
Bollard, who is required to keep inflation between 1 percent and 3 percent, forecast prices rose 0.3 percent in the quarter. Economists expected 0.6 percent. Non-tradables inflation, a key measure of prices in the domestic economy, rose 1.2 percent in the first quarter, the fastest pace in three years.
``You've got further signs the domestic economy is running a bit too hot,'' said Cameron Bagrie, chief economist at ANZ National Bank Ltd. in Wellington. ``The consumer and the housing market need to be sent a clear message. The bias is now toward another rate increase.''
Eight of 14 economists in a Bloomberg News survey predict the central bank will increase rates this month or in June. Six forecast no change this year.
New Zealand government bonds fell. The yield on the benchmark 10-year note rose 6 basis points, or 0.06 percentage point, to 6.20 percent, according to data compiled by Bloomberg. Bond yields move inversely to prices.
To contact the reporter on this story: Emma O'Brien in Wellington at [email protected] ; To contact the reporter on this story: Tracy Withers in Wellington at [email protected] .
Last Updated: April 17, 2007 23:38 EDT
http://www.bloomberg.com/apps/news?p...refer=currency
N.Z. Dollar Rises to Highest in 22 Years on Faster Inflation
By Emma O'Brien and Tracy Withers
April 18 (Bloomberg) -- The New Zealand dollar rose to the strongest in 22 years after a report showed inflation was almost twice the pace the central bank predicted, boosting the prospect of higher interest rates.
The consumer prices index rose 0.5 percent from the fourth quarter, according to a Statistics New Zealand report today in Wellington. The record 7.5 percent official cash rate has helped the local dollar, known as the kiwi, gain 19 percent in the past year, the most among the 16 most-actively traded currencies.
``It's made it more likely the Reserve Bank will have to raise rates and do more down the track,'' said John Kyriakopoulos, a currency strategist at National Australia Bank Ltd. in Sydney. ``That's given the kiwi another boost to go through record highs.''
New Zealand's dollar bought 74.83 U.S. cents at 3:36 p.m. in Wellington, from 74.53 cents before the report's release and 74.01 cents in Asia yesterday. It traded as high as 74.91, the strongest since being allowed to trade freely in March 1985. It was last higher in June 1982.
Reserve Bank of New Zealand Governor Alan Bollard next reviews rates on April 26. There's a 66 percent chance of an increase, according to a Credit Suisse index based on overnight trading of interest-rate swaps.
Not Sustainable
The local currency will weaken as investors see it isn't sustainable for a country with a large current-account deficit, New Zealand Trade Minister Phil Goff said in an interview from the Cairns Group meeting in Pakistan. The deficit was NZ$14.45 billion ($10.7 billion) in 2006.
``People will look at the reality of the balance of payments deficit of 9 percent and say this isn't sustainable and the level of the currency is not sustainable,'' Goff said.
The New Zealand dollar's appreciation is hurting company profits, including Sanford Ltd., the nation's largest publicly traded fishing company, and Click Clack Ltd., a local plastics manufacturer.
First-half profit fell because the stronger New Zealand dollar is ``decimating'' earnings, Sanford said yesterday. Click Clack, which exports about 85 percent of its production, April 4 said it was closing one plant and cutting 70 jobs because the rising currency made it less profitable.
`Stern Challenge'
Finance Minister Michael Cullen yesterday said the local dollar is ``persistently high,'' in a speech in Westport, in the South Island, adding it presented a ``stern challenge'' to exporters.
The currency also rose to the highest since September 1990 against the yen, trading at 88.68 from 88.40 yen yesterday. Japan's benchmark rate is 0.5 percent, the lowest among major economies, encouraging investors to borrow to invest in New Zealand deposits, bonds and stocks.
``High yielders are the entree, main course and dessert of financial markets at the moment,'' Alex Sinton, currency trader at ANZ National Bank Ltd. in Auckland said.
Bollard last raised the benchmark rate on March 8, when he said further increases may be necessary to cool consumer demand, particularly for housing. House-price inflation accelerated to a six-month high of 9.8 percent in March from a year earlier, according to an April 16 report from Quotable Value New Zealand Ltd., the government valuation agency.
Running Too Hot
Bollard, who is required to keep inflation between 1 percent and 3 percent, forecast prices rose 0.3 percent in the quarter. Economists expected 0.6 percent. Non-tradables inflation, a key measure of prices in the domestic economy, rose 1.2 percent in the first quarter, the fastest pace in three years.
``You've got further signs the domestic economy is running a bit too hot,'' said Cameron Bagrie, chief economist at ANZ National Bank Ltd. in Wellington. ``The consumer and the housing market need to be sent a clear message. The bias is now toward another rate increase.''
Eight of 14 economists in a Bloomberg News survey predict the central bank will increase rates this month or in June. Six forecast no change this year.
New Zealand government bonds fell. The yield on the benchmark 10-year note rose 6 basis points, or 0.06 percentage point, to 6.20 percent, according to data compiled by Bloomberg. Bond yields move inversely to prices.
To contact the reporter on this story: Emma O'Brien in Wellington at [email protected] ; To contact the reporter on this story: Tracy Withers in Wellington at [email protected] .
Last Updated: April 17, 2007 23:38 EDT
http://www.bloomberg.com/apps/news?p...refer=currency
Apr 28th 2007, 10:06 am
#134
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Joined: Jan 2007
Location: Holmfirth
Posts: 83
Re: NZ$ vs £
'Sharp fall' in kiwi likely, says analyst
5:00AM Thursday April 26, 2007
By Hiroko Komiya
Global currency strategists are divided over whether New Zealand's uridashi boom can continue.
The kiwi dollar is "massively overvalued" and will fall 7 per cent against the yen in six months, says Stephen Koukoulas, chief Asia-Pacific strategist at TD Securities.
The "super strong New Zealand dollar is unlikely to rise further and appears to be near the point where a sharp fall is likely", he said on Tuesday.
High interest rates have been a lure for carry trades, where investors borrow at low interest rates in countries such as Japan, currently 0.5 per cent, and invest the funds elsewhere.
http://www.nzherald.co.nz/topic/stor...ectid=10436175
5:00AM Thursday April 26, 2007
By Hiroko Komiya
Global currency strategists are divided over whether New Zealand's uridashi boom can continue.
The kiwi dollar is "massively overvalued" and will fall 7 per cent against the yen in six months, says Stephen Koukoulas, chief Asia-Pacific strategist at TD Securities.
The "super strong New Zealand dollar is unlikely to rise further and appears to be near the point where a sharp fall is likely", he said on Tuesday.
High interest rates have been a lure for carry trades, where investors borrow at low interest rates in countries such as Japan, currently 0.5 per cent, and invest the funds elsewhere.
http://www.nzherald.co.nz/topic/stor...ectid=10436175
May 10th 2007, 8:22 pm
#135
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Joined: Jan 2007
Location: Holmfirth
Posts: 83
Re: NZ$ vs £
Is the Kiwi finally going into reverse against both the £ and the US$ ??
Seems to be some tightening of global liquidity going on.
At some stage this business cycle, which is now into its 10th year (normally seven?), must peak and go into reverse - where will the Kiwi$ head then against the £ I wonder?
Seems to be some tightening of global liquidity going on.
At some stage this business cycle, which is now into its 10th year (normally seven?), must peak and go into reverse - where will the Kiwi$ head then against the £ I wonder?