Yuan
Equities and bond yields lower, USD higher on Friday. Plenty of economic data but little impact on markets. AUD and NZD underperform last week with RBA expected to reverse tapering decision
2nd Aug 21, 7:36am
Equities and bond yields lower, USD higher on Friday. Plenty of economic data but little impact on markets. AUD and NZD underperform last week with RBA expected to reverse tapering decision
US Q2 GDP weaker than expected, but with strong consumption and investment. Equities and bond yields increase, USD continues to fall. NZD back above 0.70 with gains on all the key crosses
30th Jul 21, 7:56am
US Q2 GDP weaker than expected, but with strong consumption and investment. Equities and bond yields increase, USD continues to fall. NZD back above 0.70 with gains on all the key crosses
Fed tweaks policy Statement but unlikely to change market expectations of timing of tapering decision. Little market reaction; USD slightly weaker as Fed Chair Powell offers some dovish soundbites
29th Jul 21, 7:52am
Fed tweaks policy Statement but unlikely to change market expectations of timing of tapering decision. Little market reaction; USD slightly weaker as Fed Chair Powell offers some dovish soundbites
Risk off as China's regulatory crackdown on sectors spills over into other markets. S&P500 down over 1%, Nasdaq down over 2% at their lows. USD surprisingly weak during risk-off episode, but NZD and AUD still dragged down by hit on CNY
28th Jul 21, 8:01am
Risk off as China's regulatory crackdown on sectors spills over into other markets. S&P500 down over 1%, Nasdaq down over 2% at their lows. USD surprisingly weak during risk-off episode, but NZD and AUD still dragged down by hit on CNY
Risk appetite recovers after weak Asian trading session. US equities up slightly to a fresh record high. US nominal 10-year rate little changed for the day but real rate prints a record low. NZD regains the 0.70 handle amidst broad USD weakness
27th Jul 21, 7:41am
Risk appetite recovers after weak Asian trading session. US equities up slightly to a fresh record high. US nominal 10-year rate little changed for the day but real rate prints a record low. NZD regains the 0.70 handle amidst broad USD weakness
Equity markets reach new record highs, supported by corporate earnings expectations. Global rates and currencies little changed on Friday. FOMC meeting, Australian CPI the key highlights this week
26th Jul 21, 7:36am
Equity markets reach new record highs, supported by corporate earnings expectations. Global rates and currencies little changed on Friday. FOMC meeting, Australian CPI the key highlights this week
Global equities push higher; global rates push lower. ECB reasserts dovish credentials resulting in small EUR underperformance. NZD and AUD show small gains. Strong demand for NZGBs even after QE ends in NZ
23rd Jul 21, 7:46am
Global equities push higher; global rates push lower. ECB reasserts dovish credentials resulting in small EUR underperformance. NZD and AUD show small gains. Strong demand for NZGBs even after QE ends in NZ
Higher risk sentiment drives up equities, global rates, commodities and commodity currencies. US 10-year rate back up towards 1.3%. Strong US earnings help; companies report widespread inflation pressures
22nd Jul 21, 7:48am
Higher risk sentiment drives up equities, global rates, commodities and commodity currencies. US 10-year rate back up towards 1.3%. Strong US earnings help; companies report widespread inflation pressures
US equities bounce back strongly but other markets don't. US 10-year rate hits fresh low below 1.13% before reversing course. NZD and AUD hit fresh year-to-date lows. COVID19 risks overhang the market; conviction of August RBNZ rate hike recedes
21st Jul 21, 7:51am
US equities bounce back strongly but other markets don't. US 10-year rate hits fresh low below 1.13% before reversing course. NZD and AUD hit fresh year-to-date lows. COVID19 risks overhang the market; conviction of August RBNZ rate hike recedes
Risk sentiment sours on worries about delta variant and increased geopolitical tensions with China. Equities tumble, US 10-year rate plunges to 5-month low of 1.17%. Commodity currencies down around 1%; NZD nears 0.6920 support level
20th Jul 21, 7:51am
Risk sentiment sours on worries about delta variant and increased geopolitical tensions with China. Equities tumble, US 10-year rate plunges to 5-month low of 1.17%. Commodity currencies down around 1%; NZD nears 0.6920 support level
Risk appetite weaker on Friday as US consumer sentiment softens. US 10-year rate closes below 1.30%; USD well supported. NZD supported as inflation surges to above the RBNZ's 1-3% target range
19th Jul 21, 7:40am
Risk appetite weaker on Friday as US consumer sentiment softens. US 10-year rate closes below 1.30%; USD well supported. NZD supported as inflation surges to above the RBNZ's 1-3% target range
Market sentiment turns more cautious. Equity markets lower, US 10-year falls below 1.30%. USD strengthens to near a three-month high. NZ 2-year swap jumps another 6bps ahead of the CPI release this morning
16th Jul 21, 7:49am
Market sentiment turns more cautious. Equity markets lower, US 10-year falls below 1.30%. USD strengthens to near a three-month high. NZ 2-year swap jumps another 6bps ahead of the CPI release this morning
RBNZ announces an end to bond buying - market prices ~70% chance of an August OCR hike. US 10-year and USD pull back after yesterday's post-US CPI increases. Bank of Canada tapers QE, but market expected more hawkish guidance
15th Jul 21, 7:48am
RBNZ announces an end to bond buying - market prices ~70% chance of an August OCR hike. US 10-year and USD pull back after yesterday's post-US CPI increases. Bank of Canada tapers QE, but market expected more hawkish guidance
US CPI much higher than expected again. Yield curve initially flattens on Fed rate hike risk before weak 30-year auction drags long-end rates higher. Equity markets give back earlier gains as US 10-year rate jumps
14th Jul 21, 7:49am
US CPI much higher than expected again. Yield curve initially flattens on Fed rate hike risk before weak 30-year auction drags long-end rates higher. Equity markets give back earlier gains as US 10-year rate jumps
Limited moves overnight as markets await key event risks later in the week. US equities and USD slightly higher, US 10-year consolidates. US CPI release the highlight tonight, with core inflation expected to hit 4% y/y
13th Jul 21, 7:52am
Limited moves overnight as markets await key event risks later in the week. US equities and USD slightly higher, US 10-year consolidates. US CPI release the highlight tonight, with core inflation expected to hit 4% y/y
Markets move from risk-off to risk-on. Sentiment turns around as PBOC cuts RRR, China credit growth surprises. US 10-year rebounds to 1.36%, S&P500 closes at a new record high
12th Jul 21, 7:37am
Markets move from risk-off to risk-on. Sentiment turns around as PBOC cuts RRR, China credit growth surprises. US 10-year rebounds to 1.36%, S&P500 closes at a new record high
Risk-off moves overnight. US 10-year hits 1.25%, S&P500 falls 1%. AUD prints fresh YTD low, NZD drops to 0.6940. Big fall in long-term NZ government bond yields
9th Jul 21, 7:51am
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Risk-off moves overnight. US 10-year hits 1.25%, S&P500 falls 1%. AUD prints fresh YTD low, NZD drops to 0.6940. Big fall in long-term NZ government bond yields
US 10-year rate falls further, goes sub-1.30%. US equities show modest gains, but still post a fresh record high. Small lift in NZD as rate hike expectations solidify. No surprise from FOMC minutes
8th Jul 21, 7:59am
US 10-year rate falls further, goes sub-1.30%. US equities show modest gains, but still post a fresh record high. Small lift in NZD as rate hike expectations solidify. No surprise from FOMC minutes
NZ QSBO and RBA update drive NZD and AUD higher as market brings forward start date of expected policy tightening. But moves reverse course overnight as risk sentiment sours. US 10-year rate falls to lowest level in more than four months
7th Jul 21, 7:45am
NZ QSBO and RBA update drive NZD and AUD higher as market brings forward start date of expected policy tightening. But moves reverse course overnight as risk sentiment sours. US 10-year rate falls to lowest level in more than four months
Quiet trading with the US public holiday. Oil prices higher as no new production deal signed. NZD and AUD flat, trading well below fair value. NZ QSBO and RBA policy announcement today
6th Jul 21, 7:57am
Quiet trading with the US public holiday. Oil prices higher as no new production deal signed. NZD and AUD flat, trading well below fair value. NZ QSBO and RBA policy announcement today
US nonfarm payrolls report a mixed bag - job growth stronger but unemployment rate ticks higher. Market reaction suggests investors think the Fed has time on its side to decide on tapering
5th Jul 21, 7:36am
US nonfarm payrolls report a mixed bag - job growth stronger but unemployment rate ticks higher. Market reaction suggests investors think the Fed has time on its side to decide on tapering
Market moves reasonably subdued as investors wait on US payrolls tonight. Equities slightly higher, US 10-year back to almost 1.50%. USD strengthens, taking the NZD down towards its recent lows
2nd Jul 21, 7:47am
Market moves reasonably subdued as investors wait on US payrolls tonight. Equities slightly higher, US 10-year back to almost 1.50%. USD strengthens, taking the NZD down towards its recent lows
Markets unmoved by string of data releases. Demand for US Treasuries and USD into month-end. NZ commodity prices rise to a record high. NZ economy overheating; another +$32 bln in household lending
1st Jul 21, 7:50am
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Markets unmoved by string of data releases. Demand for US Treasuries and USD into month-end. NZ commodity prices rise to a record high. NZ economy overheating; another +$32 bln in household lending
Strong confidence data in the US and Euro area supports global equity markets. US Treasuries remain locked in a tight trading range. Commodity currencies underperform despite higher commodity prices and positive risk sentiment
30th Jun 21, 7:39am
Strong confidence data in the US and Euro area supports global equity markets. US Treasuries remain locked in a tight trading range. Commodity currencies underperform despite higher commodity prices and positive risk sentiment
Cautious trading tone, likely to continue ahead of Friday's US employment report. US 10-year rate falls, reversing Friday night rise. NZD starts the week on a soft note alongside other commodity currencies
29th Jun 21, 7:43am
Cautious trading tone, likely to continue ahead of Friday's US employment report. US 10-year rate falls, reversing Friday night rise. NZD starts the week on a soft note alongside other commodity currencies