Kiwi expectations gone wrong
Skerdian Meta • 1 min read
Before yesterday, the New Zealand finance minister Bill English made some comments that more monetary tools are about to come. So we built a general idea that the NZD would be soft yesterday since the RBNZ statement was due at 20:30 GMT. You would obviously think that if the finance minister is dovish the central bank would be dovish too. In fact they were dovish but the market was expecting the promised monetary tools to come to life and the RBNZ didn´t deliver them. So, the NZD spiked about 80 pips higher triggering our stop loss. We had three winning signals since then but a loss is always bitter.
NZD/USD spiked 80 pips higher after the RBNZ report