Daily Alert – Thurs 29 Aug: NZD battered by poor Business Confidence

Mark NugentAug 2019, Daily Alert

Daily Alert – Thurs 29 Aug: NZD battered by poor Business Confidence

Business Confidence in New Zealand hit a low not seen since April 2008, causing the Kiwi to fall. US Treasury Secretary Mnuchin reveals that the administration has considered countering USD strength but has yet to act. And you may have noticed that UK PM Johnson has prorogued parliament to widespread gnashing of teeth.

Sentiment has been neutral/on for most of the week with equities up but to have traded this successfully you would have had to enter at the Sunday open to catch the initial move and that would have been a high risk stretegy as last Friday’s negative sentiment could very easily have carried over to the new week.

I did take a NZDUSD short at yesterday’s close, but the Business Confidence hit to the NZD seems to be reversing and the price is currently close to my entry point.

Let’s hope for a calmer, back-to-business September. Have a great weekend when it comes and I’ll be back on Monday.

[MM_Member_Decision isMember=’false’]

To see the video, members can login HERE.

If you would like a free trial to the VIP Club you can find out more HERE.

[/MM_Member_Decision] [MM_Member_Decision membershipId=’1′]

To see the video, members can login HERE.

If you would like a free trial to the VIP Club you can find out more HERE.

[/MM_Member_Decision] [MM_Member_Decision membershipId=’3|4′]

Here is your video:

You can download the video HERE.

The updated Trading Plan is HERE.

There is an archive of all VIP Club member’s content on the VIP Club page.

[/MM_Member_Decision]