This morning's move was inevitable after the RBNZ had spent the last several months "preparing" the market for another cut. Sometimes, the less said, the better!
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How was that futures action this week? Crazy days, interesting that they 'crashed' the market out of hours. When viewing the daily cash chart you wouldn't even know it happened. Maybe it was just a huge stop run to take out stops on longs before running things higher into Christmas.
I think its also telling that NZ50 is not participating in the recovery. The yield play looks to be over
http://www.reuters.com/article/us-gl...-idUSKBN13600Z
NZX50 only down 10 last week, stuff all really
One of better weeks of late
No worries
correction from sept might be ending price sits right on down trend line from sept so chartists will be watching for upside breakout
Happy New Year everybody ... and just to start the New Year on a high note:
While the US and Australasia indulged in their observed and other New Year holidays are other markets already busy creating value for 2017:
DAX (Germany) up 150 points (roughly 1%) and it sounds like other European markets (Italy) did well as well. Nikkei edged up, only South Korea was somehow mixed, but this might be related to their home made problem (president impeached).
Looking forward to Australia and the US markets overnight ...
It is showing its strength again. It went Up by more than 3.44% during past month beating markets such as China, Australia, Singapore, Taiwan, Hong Kong, Japan and South Korea.
52 week 6,587.42 - 7,613.19
https://www.nzx.com/markets/nzsx/indices/NZ50
7,593.260