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90 seconds at 9am: NZ$ sprints above 75 USc as Aussie rate hike talk grows
Click here to watch this morning's video.
Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news the New Zealand dollar rose over 75 US cents this morning, riding high on the coat tails of the Australian dollar.
There is fresh talk of fast rate hikes in Australia. Deputy Reserve Bank of Australia governor Philip Lowe said Australia's Official Cash Rate needed to be returned to 'appropriate settings', Bloomberg reported. Traders took this to mean rate hikes would be fast.
Meanwhile, there is fresh talk of withdrawing stimulus in the United States, which contributed to US$ weakness. Risk appetites for investing outside the US are also up. The Dow rose 1%, Bloomberg reported.
Meanwhile a big insider trading scandal has erupted in the United States, where Sri Lankan hedge fund billionaire Raja Rajaratnam is accused of insider trading and backing the Tamil Tigers, the New York Times reported.
5 Comments
And oil is at $79
And oil is at $79 and gold $1061....
http://www.oil-price.net/
If Oz hikes that fast wont it find itself in the carry trade? ie how reasonable is it these days to not move in sync globally?
regards
Ozzie $ up to 93
Ozzie $ up to 93 c. to $US . Parity parties coming soon . And dragging the Kiwi peso up with it . Symbiotically speaking , you cannot buck the momentum ......... We're up up and away ........... Wheeeeeeeeee !
So what will the new
So what will the new World Currency be? Backpackers say pulling out a US$ just doesn't get the attention it used to.
Kiwi can fly , now
Kiwi can fly , now to 75.6 of $US . When is woolly bully Bolly gonna nip in and start buying ? Yer got lucky last time , Al , with OUR money . Gonna have another gamble , with OUR money ? It's symbiotic of the moment , to risk someone else's dosh !
The equities market appears poised
The equities market appears poised for some correction: perhaps a big move down. This is going to drive a great deal of money into TBills. The USD will strengthen until the Fed begins priming the pump for Stimulus II. Then look out below. Bollard hasn't shown any propensity to go out on his own. When the USD does something eyebrow-raising, and when other players begin upping rates then Bollard will join in. That's only my opinion