By Dan Bell
What a difference a day makes! The NZDUSD has lived up to the old cliché, “Up the staircase, down the elevator!!”
What started with the BOJ selling 1 trillion YEN to buy USD and EUR, to prop up it’s export led economy, has continued into a massive sell off….
Dow Jones, S&P and Nasdaq all down over -4.0%, as Global growth concerns sink markets – Double Dip on??
Gold off $40 USD, Crude oil down $5, CRB Index -3.0%, VIX up 30%
NZDUSD now sub 0.8400 as typing, but should attract buyers… Who’s going to want to hold USD and EUR?
Treasuries have massive rally, 30yr up 20bps!!
NZDAUD 0.7980, NZDEUR 0.5930, NZDGBP 0.5145, NZDJPY 66.30
Makes tonight’s Non-farm Payrolls number even more important.. will it see the buyers back in? Either way, looks like a wild one on the cards…