http://www.fxstreet.com/news/forex-news/article.aspx?storyid=04fd589b-65a5-48d4-b72f-252863285f5c# I guess it's a similar story with the AUD/USD pair? Gold still holding over US$1,600 but the NZD has gone from USD 75 cents to 79 cents in little more than a week. This makes Gold Kiwi sad.
Advanced rapidly? From what I gather it didn't even gain a whole 1c. Same with the AUD, we didn't even get a 1c change by the looks. Wait until tomorrow, after the US markets have done their thing and the market people have played their games. Edit: I'm obviously coming from the perspective that a 1c daily change is the 'new normal', not normal in historical terms.
It's the four cents in a week I was more interested in. I could have bought 4% more metal with my paper! Not that there was any way of knowing that a week ago, of course. :/
Sorry I didn't notice the 4c run up. That's pretty big? Any idea why exactly? Australia didn't get that much, and the pair usually rise in tandem
I'm not a forex trader/expert, but the Australian Reserve Bank recently cut the official cash rate while the New Zealand Reserve Bank held ours. Maybe that had something to do with it? The New Zealand dollar is one of the 10 most-traded currencies in the world and is considered a "risk trade," so it's about as volatile as the price of silver.
