Thursday, December 21, 2006
Posted by Macro Man on Thursday, December 21, 2006 with No comments
So New Zealand GDP was indeed worse than expected. The NZD should suffer here; if it doesn't, it may actually present a nice opportunity. Every pip that the kiwi doesn't fall now may well represent 3 pips that it falls in January. Remember, the kiwi is a flightless bird, so it can't stay in the air forever.