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Waiting for Fonterra

NZ dollar direction expected to be heavily influenced by this afternoon's dairy payout announcement

Bernard's election diary - July 29

Updated
Key leaves Craig to swing in the breeze under 5%; Key backs Smith, but says legal threat "silly"; Smith drops threat; Key says swimmable rivers would cost "billions"; Your view?

Another edge lower

While geopolitics weighs on Eurozone, US markets outperform, locals on Fonterra watch

90 seconds at 9 am: Russia loses Yukos case

US services and factories expand in July, housing falls in June; Russia loses a $50 bln arbitration case; UST yields 2.48%; oil price lower, gold higher; NZ$1 = US$0.855, TWI = 79.7

Key comfortable if RBNZ intervenes

Updated
PM John Key says agrees with RBNZ that NZ$ over-valued; would be comfortable if RBNZ intervened to sell it down; but restates intervention not effective in long run; NZ$ dips

Pressure building on the Federal Reserve to change their tone

Roger J Kerr says the next push upwards in US yields will be the real deal as bond investors seek better real returns

What happened Monday

A review of things you need to know before you go home on Monday; BNZ raises variable rates +25bps, selective on deposits, Dorchester looks for more of Turners, RBNZ leads,  wholesale rates sink

Intervention threat tips the scale

Roger J Kerr says because of hedging, the NZD can depreciate significantly over the next 6-12 months and the impact on inflation will be muted

Getting it cheaper

Exchange rate effects are masking the underlying strength in our level of online purchasing from overseas, says BNZ

Bernard's election diary - July 28

Updated
Key hangs Colin Craig out to dry; Smith denies threatening Fish and Game; Smith threatens legal action against bullying claim; Greens would ban deep sea drilling; Your view?

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