The visible hand in economics

The curse of the forecast

Posted on: January 31, 2008

This article came out at 9.30am stating that the New Zealand dollar was going to test $US0.80 again.

Even with an positive surprise in the merchandise trade figures, this is what happened:

nzdusd_1_hourlygif.jpg

Macro-man notices a similar trend with Economist magazine covers.

Update:  If anyone wonders why the dollar is falling, it is because of concerns in the US (we are a carry trade currency, so if something goes wrong in the US people sell our currency and buy US dollars crazy huh) about some bond issuers.

2 Responses to "The curse of the forecast"

[…] rates, our dollar might just be coming for a ride. Possibly related posts: (automatically generated)The curse of the forecastRecord Breaking Day for the Dollar, Euro and British PoundMarketBeat : The Dollar’s Renewed […]

ill definatelybe bookmarking this sheet.

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