A Kiwi Surprise

Thursday, September 24, 2009

Highlighting my theory that nothing big is happening this week because of political and inter-governmental distractions such as the UN convention in NY, today sees the Forex world doing back flips over the GDP numbers out of, of all places, New Zealand.

Yes, the kiwi is soaring to heights unseen in well over a year. And what was this stellar number out of the land of good wine, Rachel Hunter (if they did nothing else in their history, giving the world Ms. Hunter would have been enough) and a green fruit?
The GDP of kiwi-land grew by a seasonally adjusted .1% - a tremendous achievement that deserves of all the fanfare it is getting.

I am 99% certain that if the investment world was actually focused on their profession this week, this would be a non-story.

All kidding aside, considering that the New Zealand GDP was expected to contract by .2%, the miniscule rise takes them out of recession, officially if not practically, and demonstrates yet another emerging economy that is faring better than the world’s leading industrialized nations – (throat clearing sound) like the US, Britain and Japan.
Forex traders are actually riding a wave that is continuing the cycle that started down under with Australia.

The south Pacific is becoming the place to be as of late and the economies of Australia and New Zealand are beginning to provide more options for investors and traders alike.

I do not believe that this would be possible if there was not a crisis going on, but the fact that there is one gave the down under dollars a chance to prove their true worth.

In an environment when the “big-boys” are struggling hard, to come to the point where you are thriving – or at least perceived to be thriving is an achievement.

Without the credit crisis and subsequent recession, the opportunity to shine never would have presented itself.

For the lack of anything else going on in the Forex Online Market today I close this day’s jaunt from anything interesting by saluting the New Zealand economy on their tremendous achievement and while it is strange that the Kiwi is leading the rally in the major’s today – let them know to revel in this moment as it will not be long before this news is old news.

Here is your fifteen minutes kiwi’s – and thank you for Rachel Hunter. Trade safe.


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