The curse of the forecast
Posted January 31, 2008on:
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:
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.