fxmatters

• May – second most volatile month (to Oct) for EUR/JPY over last 20 years.
• May – small bias towards Swiss Franc strength, NZD/CHF down an average 0.8% in last 20 years.
• 1 May 1886 – first US strike for an 8-hour working day.
• 5 May 1893 – panic of 1893: Great crash on NY Stock Exchange.

The NZ dollar is caught in a wave of yield chasing in a world where risk has been downgraded. The threat of monetary tightening has kept NZ to the fore of this wave to now. Is there another tightening imminent to sustain this trend? … Read Awaiting the damage assessment.

• 26 April 2002 – Robert Lavagna named as the 6th Argentina economy minister in a year; growth resumed, helped by a 70% peso depreciation early 2002.
• 29 April 1993 – Lloyd’s of London, following large payouts, announces it will accept limited liability investments (as well as ‘Names’ with unlimited liability).
• 30 April 1993 – The 120-year Tokyo stock trading floor gives way to screens.

The Reserve Bank of New Zealand has the power to stop this NZ dollar rally and they will probably use it. But will it be sufficient? … Read Monetary tightening to impact soon

• April 1997 – AUD/JPY peaks at 100.0, touch above peak last week of 99.4.
• 16 April 1948 – Organization for European Economic Cooperation (EEC) forms.
• 19 April 1933 – FDR announces US will leave gold standard.
• 23 April 1969 – Britain issues 5p and 10p coins, moving fully to decimal.

The global authorities are happy to see the US dollar weaken further, and by implication currencies such as the NZ dollar appreciate. But NZ has its own current account problems. The current NZ dollar rally will bring about the conditions to create a NZ dollar fall … Read Bringing forward the NZD rise and fall

• March 2005 – NZD/USD reaches peak bid of $0.7463.
• 13 April 1976 – $2 bill re-introduced as US currency.
• 14 April 1871 – Canada sets denominations of currency as dollars, cents, and mills.
• 15 April 1952 – Franklin National Bank issues first bank credit card.

The global markets are embracing risk again, and the NZ dollar along the way. But there are some very real risks that suggest a NZD/USD will struggle generally to exceed 2005 highs … Read NZ Dollar Risks Do exist.

As it turned out the NZ dollar was little changed against the major currencies by the end of the first quarter. But there were five things that happened during the quarter that were significant for the NZ dollar over the next quarter, not least being events in Australia and the US … Read Five reasons for a firm NZ dollar.

• April – average over 20 years: NZD/USD +1.1%; NZD/AUD +0.5%.
• 1 April 1778 – the dollar sign ($) is created by Oliver Pollock.
• 1 April 1940 – the brokerage firm Merrill Lynch, E.A. Pierce & Cassatt open for business.
• 6 April 1998 – at the time the biggest merger, Citigroup, Inc. is formed from Citicorp and Travelers Group.