- Is the RBNZ Preparing to Scrap the New Zealand $100 Note?
- Why New Zealand Won’t Have Any Say in a Global Currency Reset
- The Mainstream is Catching Up With Us!
Prices and Charts
NZD Gold Pulls Back After Sharp Rise
Earlier this week gold in NZ dollars shot higher as the Kiwi dollar weakened yet again. Briefly touching $1875 before pulling back to just above the 200 day moving average (MA).
Gold looks to have strong support at the NZ$1775 level. So buying anywhere under the 200 day MA looks like a good long term buy.
Last week we thought NZD silver was likely to head higher towards the 200 day MA before a pull back began.
This proved to be the case, with silver back to the 50 day MA today. This also looks like a good buying zone for silver as the long term uptrend line looks to have held and be good support. So buying anywhere close to that line should be a good long term bet.
We thought the New Zealand dollar may consolidate around 0.65 for a bit. But no, it plunged from last week and made yet another low. Dipping down close to 0.64 not since since early 2016.
Back in August we thought 0.64 was the next support level to look for. That has now almost been touched. Next stop may be 0.62?
Even ANZ is now warning:
New Zealand dollar heading to GFC lows by end of the year, ANZ says
For more on the Kiwi see:
NZ Dollar Falls – Why is the NZ Dollar Weaker and Where to Now?
Need Help Understanding the Charts?
Check out this post if any of the terms we use when discussing the gold, silver and NZ Dollar charts are unknown to you:
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Is the RBNZ Preparing to Scrap the New Zealand $100 Note?
Do you stockpile any cash at home in case of emergencies or a natural disaster when the ATM’s and eftpos network might be down? (actually speaking of natural disasters, our sister company Emergency Food NZ finally has smaller emergency food packs back in stock. See details of them linked above).
If so it would pay to think carefully what type of notes it is you hoard.
See why some recent data published by the RBNZ has us thinking the Reserve Bank may be preparing to abolish the $100 note…
Why New Zealand Won’t Have Any Say in a Global Currency Reset
Despite the fact that many (but not all) share markets continue to rise and house prices remain up, the global monetary system is well overdue for a rejig. Why’s that?
Well, the international monetary system has actually collapsed 3 times in the past century. The last one occurred in the mid 1970’s and on average they happen every 30-40 years.
So it’s now been over 40 years. Despite what most people would think it is a case of when, not if, we experience some kind of reset.
How would New Zealand be affected by this?
Here’s what we think…
Your Questions Wanted
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The Mainstream is Catching Up With Us!
We spotted a few of stories in the media this week backing up things we’ve written in recent months.
In August we wrote: Could Stagflation Happen Again?
We pondered could the New Zealand (and global) economy be headed for stagflation? See just what stagflation is, what causes stagflation and what offers the best protection from it.
This week over on interest.co.nz they had:
“David Hargreaves ponders where the turbulent forces of a falling dollar, rising fuel prices and falling business confidence may take us.”
Earlier in August we also wrote about: Why the Push for Higher Wages May be at Just the Wrong Time
In a similar vein Stuff today had:
Minimum wage rise could leave households worse-off
“A “perfect storm” of minimum wage rises, a weak dollar and higher fuel costs are predicted to combine to hike prices.
Prime Minister Jacinda Ardern has come under heat this week over record fuel prices. But economists warn there may be more pain on the horizon.
Cameron Bagrie said the current situation could be described as “grumpflation”.
“Things are slowing, it’s not a downturn but they’re easing up. Then there’s a hell of a lot of pressure on costs. Everything is going up – rents, rates, fuel… there’s a fair bit of pressure going to go on disposable incomes.”
He said household savings rates were still negative and most Kiwis did not have a financial buffer to absorb cost shocks.”
Then finally back in July we noted that: Net Migration was Falling – and wondered Could This Tip NZ into Recession?
Now ANZ economists are also wondering if there is a chance of larger than expect falls in migration. If so we could see economic growth slow markedly.
The bottom is yet to drop out of the New Zealand economy. But these stories show there are a few warning signs about. Better to be prepared just in case.
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