HalalTraders
Long

High Yield Currency Anyone?

FX:AUDNZD   Australian Dollar/New Zealand Dollar
14 0 0
Aussie, Kiwi and Loonie are among largely traded commodity currencies. Aussie has positive correlation to Gold             .
Kiwi is highly affected by dairy prices while Loonie tags oil             prices. With RBNZ and RBA paying 2.5% and 2% interest respectively, these are among high yield currencies.

RBNZ has rate statement coming this Thursday (1/28) and is expected to sound more dovish as the last meeting in Dec             , Govenor Wheeler said further depreciation is appropriate. Furthermore, dairy prices have remain weak, with milk powder price have fallen more than than 5% since last meeting. Interest rate futures market, prices only 10% probability that RBNZ will cut rate this Thursday.

RBA has rate statement Tuesday next week (2/2), and is not expected to ease any further for now. Aussie should benefit from demand in Gold             .

This pair has slightly above 200 pips weekly range and slightly below 100 daily range.
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