Jason Wong
Post FSR boost for NZD; poor earnings from US companies dampens risk appetite; weaker USD tone helps lift AUD
12th May 16, 8:17am
Post FSR boost for NZD; poor earnings from US companies dampens risk appetite; weaker USD tone helps lift AUD
RBNZ may engage further macro-prudential tools, leaves door open for more rate cuts; USD rises for sixth consecutive day; commodity currencies firm but leave NZD behind
11th May 16, 8:25am
RBNZ may engage further macro-prudential tools, leaves door open for more rate cuts; USD rises for sixth consecutive day; commodity currencies firm but leave NZD behind
Yield chasers drive NZ-US 10yr spreads to only 85 bps, lowest in a decade
Heavy selling of USD in previous months is now being reversed; weaker commodities and Chinese data helping USD
10th May 16, 8:21am
Heavy selling of USD in previous months is now being reversed; weaker commodities and Chinese data helping USD
Significant miss for Q1 CPI drives down RBA's inflation expectation; NZD off 2c against USD, falls in sympathy with AUD; US employment data softer
9th May 16, 8:16am
Significant miss for Q1 CPI drives down RBA's inflation expectation; NZD off 2c against USD, falls in sympathy with AUD; US employment data softer
RBA's 'significant downgrade' to its inflation outlook pushed local rates lower, and pressures the RBNZ to cut its policy rate further
9th May 16, 7:35am
RBA's 'significant downgrade' to its inflation outlook pushed local rates lower, and pressures the RBNZ to cut its policy rate further
NZD/USD peaks near 70c, Yen up 3.1% against USD; lower NZD is desirable to boost tradeables inflation and assist the tradeables; “doing nothing” is equivalent to a de-factor tightening of policy
29th Apr 16, 8:30am
1
NZD/USD peaks near 70c, Yen up 3.1% against USD; lower NZD is desirable to boost tradeables inflation and assist the tradeables; “doing nothing” is equivalent to a de-factor tightening of policy
NZ yield curve flattened considerably with an RBNZ induced up bias at the short end, and a global down bias at the long end
29th Apr 16, 7:25am
NZ yield curve flattened considerably with an RBNZ induced up bias at the short end, and a global down bias at the long end
Australian CPI sparks currency market volatility, door opended for RBA to cut rates; NZD/AUD blasts through 90c; Fed sees improvement in labour market but little reaction to announcement overall
28th Apr 16, 8:07am
Australian CPI sparks currency market volatility, door opended for RBA to cut rates; NZD/AUD blasts through 90c; Fed sees improvement in labour market but little reaction to announcement overall
Market reaction expected no matter which way the RBNZ goes this morning. Focus then furns to BofJ decisions
28th Apr 16, 7:47am
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Market reaction expected no matter which way the RBNZ goes this morning. Focus then furns to BofJ decisions
Rising US inflation expectations not reflected in a stronger USD; Brexit fears overdone, GBP on reverse course; EUR riding on GBP coat tails
27th Apr 16, 8:22am
1
Rising US inflation expectations not reflected in a stronger USD; Brexit fears overdone, GBP on reverse course; EUR riding on GBP coat tails
Markets unsure of how the RBNZ will approach its OCR decision and whether rate cutting is still the favoured policy response. US Fed and AU CPI also due
27th Apr 16, 7:51am
5
Markets unsure of how the RBNZ will approach its OCR decision and whether rate cutting is still the favoured policy response. US Fed and AU CPI also due
Run of soft business data dampens sentiment; increased oil production pushes prices lower; GBP breaks higher as Brexit risks diminish
26th Apr 16, 8:18am
Run of soft business data dampens sentiment; increased oil production pushes prices lower; GBP breaks higher as Brexit risks diminish
Although many policy makers see further rate cuts as counter-productive, markets expect RBNZ to keep cutting. But few see a cut on Thursday
26th Apr 16, 7:55am
1
Although many policy makers see further rate cuts as counter-productive, markets expect RBNZ to keep cutting. But few see a cut on Thursday
Recent strength of NZD puts pressure back on RBNZ to cut; Citigroup's daily commodity terms of trade index for NZ trending down; Germany criticises ECB saying stimulus doesn't work
22nd Apr 16, 8:14am
5
Recent strength of NZD puts pressure back on RBNZ to cut; Citigroup's daily commodity terms of trade index for NZ trending down; Germany criticises ECB saying stimulus doesn't work
Yield curve steepens as long rates rise. Markets see low chance of an OCR hike next week. But offshore benchmark rates trending up
22nd Apr 16, 7:53am
Yield curve steepens as long rates rise. Markets see low chance of an OCR hike next week. But offshore benchmark rates trending up
CBA index of NZ export commodities shows declining trend; NZD bucks trend and falls back; latest polls suggest UK remains in EU
21st Apr 16, 8:04am
CBA index of NZ export commodities shows declining trend; NZD bucks trend and falls back; latest polls suggest UK remains in EU
China's signal it will be tackling "overexpansion of corporate leverage" saw NZ wholesale rates fall with many other countries. Japan and Europe rates fall too
21st Apr 16, 7:38am
China's signal it will be tackling "overexpansion of corporate leverage" saw NZ wholesale rates fall with many other countries. Japan and Europe rates fall too
Japanese officials failing to jawbone the Yen lower; NZD/JPY traded above PPP estimates for last 14-years; USD sentiment perks up
8th Apr 16, 8:29am
Japanese officials failing to jawbone the Yen lower; NZD/JPY traded above PPP estimates for last 14-years; USD sentiment perks up
Safe haven demand rises; German yields near record lows. Local rates hold within a tight range
8th Apr 16, 8:28am
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Safe haven demand rises; German yields near record lows. Local rates hold within a tight range
Better news for oil sector, oil price jumps 5%; Yen strengthens while risk appetite improves; division within in Fed committee; NZD rising on USD weakness
7th Apr 16, 8:29am
2
Better news for oil sector, oil price jumps 5%; Yen strengthens while risk appetite improves; division within in Fed committee; NZD rising on USD weakness
A third of the world's developed market sovereign debt has negative yields. Now a 50:50 chance of an April cut by RBNZ
7th Apr 16, 8:27am
1
A third of the world's developed market sovereign debt has negative yields. Now a 50:50 chance of an April cut by RBNZ
Not obvious why market has turned so much; AUD casualty of risk-off move; NZD softer after QSBO showed weaker business confidence; better than expected dairy auction
6th Apr 16, 8:09am
2
Not obvious why market has turned so much; AUD casualty of risk-off move; NZD softer after QSBO showed weaker business confidence; better than expected dairy auction
Yields slip in Germany, the US, Australia and NZ. The gap between the NZ and Australian 2-year swap rate now less than 10 bps
6th Apr 16, 7:39am
Yields slip in Germany, the US, Australia and NZ. The gap between the NZ and Australian 2-year swap rate now less than 10 bps
Recent commodity rally overdone, prices now correcting; Saudi's will only freeze oil production if Iran follows, oil price falls to under $36/bbl; NZD/USD down 1%; prospects for weaker dairy auction overnight
5th Apr 16, 8:18am
Recent commodity rally overdone, prices now correcting; Saudi's will only freeze oil production if Iran follows, oil price falls to under $36/bbl; NZD/USD down 1%; prospects for weaker dairy auction overnight