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90 seconds at 9 am: Tax deals 'illegal state aid'

US consumer confidence falls sharply; oil and gold retreat; China factories expand; EU threatens Ireland over tax deals; iron ore price tanks; NZ$1 = US$0.779, TWI = 76.1

What happened Tuesday

A review of things you need to know before you go home on Tuesday; FEI reduces td rates, building consents underwhelm as does business confidence, bank deposits up strongly,  NZD stops falling

Parker interim Labour leader as brawl erupts

Updated
Cunliffe accuses 'beltway babes' of plotting 'backroom deals'; Robertson says Cunliffe 'watching too much West Wing'; Parker has no confidence in Cunliffe; says his position 'untenable

English welcomes NZ$ fall

Finance Minister welcomes NZ$ fall as reducing headwind for exporters; says RBNZ will be happy to see it continuing to fall; sees not much inflation for consumers; likes Key's 'Goldilocks' forecast

Lower currency will feed through to higher inflation

Roger J Kerr says fuel and freight set to rise in cost soon, other imports to follow; RBNZ taking calculated risk price hikes can be contained within policy limits

90 seconds at 9 am: NZD has 11% fall

US consumer spending rises, house sales fall; post-Gross Pimco bleeds funds; Hong Kong on edge; UST 10yr 2.49%, NZD stabilises overnight; NZ$1 = US$0.777, TWI = 75.8

What happened Monday

NZ$ drops sharply, Auckland rents picked to rise, banks offer some relief for owners of leaky units, trouble in Hong Kong

Key gives green light for RBNZ intervention

Updated
Key says 'Goldilocks' level for NZ$ around 65 USc; agrees with RBNZ that NZ$ over-valued; agrees intervention "would be logical"; doesn't know if RBNZ has intervened

Kiwi’s downward spiral gets Wheeler turbo-boost

Roger J Kerr argues it's hard to see the NZ$ plummeting another 10c against the US$ as it has done since mid-July; Says NZ interest rates still among developed world's highest

Key does deals with Dunne, Seymour

Updated
National agrees confidence and supply deals with United Future and ACT; Dunne to stay as Internal Affairs minister; Seymour gets lesser role; Bennett set for new ministry