Intraday Market Thoughts

Archived IMT (2009.04.29)

by Ashraf Laidi
Apr 30, 2009 0:20

RBNZ slashed rates by 50 bps to 2.50%, leaving Australia as the only country with the highest rate among the major 11 currencies. This adds to our negative Kiwi outlook signaled in the latest HOT-CHART. See our TRADING IDEAS on Sticking with the bearish call for equities issued before the FOMC. The retreat in stocks off their highs further unwinding FX risk trades i.e. dragging down GBP, EUR, AUD and NZD vs USD and JPY.


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