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A review of things you need to know before you go home on Tuesday; more TD rate cuts, new housing data coming, lower currency volumes, smaller households, steeper swap curves

A review of things you need to know before you go home on Tuesday; more TD rate cuts, new housing data coming, lower currency volumes, smaller households, steeper swap curves

Here are the key things you need to know before you leave work today.

TODAY'S MORTGAGE RATE CHANGES
There are no mortgage rate changes to report today.

TODAY'S DEPOSIT RATE CHANGES
We got term deposit rate reductions from NZCU Baywide, Nelson Building Society, and the Heretaunga Building Society today.

MORE DATA COMING
Steven Joyce confirmed today that the Government will collate and publish data on where foreign house buyers are coming from after new rules on reporting investment property buying kick in from October 1

BIG BUT LESS BRIGHT
Currency traders turned over lower volumes in June when the NZ Dollar was involved, according to data out from the RBNZ today. All up NZ$243 bln was traded in the month, -11% less than the same month a year ago. Trading has become more volatile recently with a few stellar months, but mostly lower months, and June 2015 was one of the latter types. It is the swap transactions that are driving the shifts, although they did gain from May.

GOOD FOR SOME, NOT OTHERS
Asian equity markets are rising on hopes that Greece's conditional bailout agreement would bring to an end that country's debt crisis, though caution kept broad gains in check. Things are not so rosy in Athens however. Greece's leftwing Prime Minister faces a showdown with rebels in his own party furious at his capitulation to German demands for one of the most sweeping austerity packages ever demanded of a euro zone government.

HALF SIZED
The size of New Zealand’s households has halved – but it’s taken over a century to do it, according to new analysis from Statistics New Zealand. The Census in 2013 shows that there were on average 2.7 people in each occupied dwelling – nearly half the number from 1886, when 5.2 people was the average.

WHOLESALE RATES STEEPEN
NZ swap rates rose and steepened by between +1 and +4 bps across the curve today. The 90 day bank bill rate also rose and was up +1 bp to 3.19%.

NZ DOLLAR FLAT
The NZ dollar has meandered again today. It is down against the greenback to 66.9 USc, at 90.0 AUc, and 60.7 euro cents. The TWI is still at 71.5. Check our real-time charts here. Currency markets are not really reacting to the news from Greece or China these days, except with very subtle shifts.

You can now see an animation of this chart. Click on it, or click here.

Daily exchange rates

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Daily benchmark rate
Source: RBNZ
Daily benchmark rate
Source: RBNZ
Daily benchmark rate
Source: RBNZ
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Source: RBNZ
Daily benchmark rate
Source: RBNZ
Daily benchmark rate
Source: RBNZ
Daily benchmark rate
Source: RBNZ
End of day UTC
Source: CoinDesk

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4 Comments

Interesting medical development/redevelopment.

"A 1,000-year-old treatment for eye infections could hold the key to killing antibiotic-resistant superbugs, experts have said.

Scientists recreated a 9th Century Anglo-Saxon remedy using onion, garlic and part of a cow's stomach.

They were "astonished" to find it almost completely wiped out methicillin-resistant staphylococcus aureus, otherwise known as MRSA."

http://www.bbc.com/news/uk-england-nottinghamshire-32117815

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I'm looking for a copy of Bald's Leechbook......it is where the recipe came from.

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Don't go near Baldy - he's not peer reviewed.

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If someone was coming at me with a cows stomach I'd leave too...

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