It is really worth being aware of when Graeme Wheeler of the Reserve Bank of New Zealand is speaking.
In my second post of today I posted this:
“Wheeler has been known to throw a few hand grenades (in the form of incendiary comments) at the kiwi dollar market, causing sharp sell-offs, so thats something to be aware of.”
Upcoming from New Zealand at 2100 and 2105GMT – watch out!
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Later I posted this:
“0005GMT Officials from the Reserve Bank of New Zealand appear in the New Zealand parliament in front of the Select Committee on Financial Stability to discuss the Financial Stability Report. This was released at 2100GMT, accompanied by a press conference from Governor Wheeler and deputy Spencer. Wheeler took the opportunity to again state that the NZD was overvalued (see earlier posts reporting his comments). I imagine he’ll be saying the same sort of things again.“
Data for release in Asia today
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And then this, which really kicked off the NZd selling to new lows for the day:
This is an important comment from Wheeler
RBNZ’s Wheeler: Says there is scope to cut rates if the house price risk removed
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The kiwi has lost a cent today on Wheeler’s jawboning. This guy is a central banker par excellence!
