NZD's Overshoot vs GBP?
NZDGBP (using the NZDGBP exchange rate instead of the more conventionally expressed GBPNZD due to charting issues with the latter) has proven to be highly correlated with risk appetite, including equity market sentiment. Since NZD has always commanded higher interest rates than GBP, extended rallies in NZD vs GBP have commonly occurred during run-ups in appetite, while turnarounds were usuallyu related to retrenchment in risk-seeking trades. Technically, the pair has failed to post a weekly close above 0.41-45 in 3 occasions over the last four years. Today, NZDGBP hit an all time high of 0.4172 (2.39 low in GBPNZD), reflecting a combination of rallying equities and prolonged GBP weakness. While the general fundamental picture remains GBP-negative, we could see an improvement in GBP vs NZD as the RBNZ issues more vocal concerns regarding excessive NZD strength.
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تفسير مراحل الذهب
Mar 17, 2023 21:28 | by Ashraf Laidi.
Jack, NZD expected losses vs USD may be limited even during risk aversion, so start to look at higher levels here in long term i.e. 0.83 by early Q1.
Ashraf
thx
Steven
Ashraf
an odd matter
where to gbp/nzd will
go ?
what is your view on gbp/jpy at this level 149.35?
thanks
Thanks
Ashraf
gbpnzd