Doug Steel

Articles by Doug Steel

2 Aug 17, 8:23am
Mixed US data weighs on UST yields, with European long end yields following. These moves will influence local yields today. Spencer speech expected to make no waves
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2 Aug 17, 8:19am
NZD pressed down towards 0.7460 USD before finding support; USD recovered some losses after mixed data releases; AUDUSD 0.5% lower at 0.7965 and AUDNZD trading at around 0.9380
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1 Aug 17, 8:17am
USD suffers fifth consecutive monthly loss, the longest streak since 2011; NZD, AUD and CAD direction driven by commodity prices; EURUSD trading at highest level since early 2015
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1 Aug 17, 8:08am
Bond yields take a break as neither data flows nor policy maker signals indicate where fixed income markets are headed
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31 Jul 17, 8:21am
Weaker than expected GDP data and US politics weigh in on the USD, the DXY down 0.6%, UST yields lower; NZD benefits from the weakening USD; NZGB yields rose on Friday, with a steepening bias
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28 Jul 17, 8:21am
USD rose against most major currencies overnight as it fought back from the punishment it took after the Fed announcement; NZD tested 0.7560 USD yesterday, currently trading below the 0.7500 mark; NZDAUD opens at 0.9400
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28 Jul 17, 8:17am
Despite a small rise in the US, yields are generally lower around the world, including in New Zealand. Focus turns to US Q2 GDP result
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27 Jul 17, 9:51am
US Fed comments drive a fall in yields. RBNZ reduces their view of the neutral cash rate. Australian inflation miss and RBA comment sees their yields slip
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27 Jul 17, 8:22am
NZD up more than 1% against the USD, trading above the 0.7500 mark; USD lower as Fed keeps rates unchanged, as expected, and stated that the balance sheet unwind would start soon; AUD lower against the NZD after weak CPI data
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26 Jul 17, 8:13am
NZD tested 0.7450 USD before drifting lower on USD strength to currently sit around 0.7410; AUD tested 0.7970 USD on higher commodity prices; oil up over 3% in a risk on environment
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26 Jul 17, 8:12am
Upbeat news lifts all boats. RBNZ and RBA to make watched comments, Eyes then shift to signals from US Fed
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25 Jul 17, 8:16am
NZD traded a tight 25 pip range with a mild drift lower, opening at 0.7430 USD; US 10yr yield 2 bps lower to 2.26%; NZGB yields 2 bps lower across the curve, local swaps up less than 1 bps; oil up more than 1%
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24 Jul 17, 8:12am
NZD pushed up to 0.7454 USD, its highest level since September; the DXY US dollar index fell 0.5% on Friday, taking it down nearly 1.4% for the week; AUD strength checked; EUR remains main beneficiary of USD weakness
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24 Jul 17, 8:08am
US benchmark yields "leak lower". German and UK yields follow. NZ yields lower and flatter
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6 Jul 17, 8:30am
The next US Fed rate hike possible in September, about the time their balance sheet selldown starts. NZ rates settle after RBA and earlier run-up
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6 Jul 17, 8:27am
NZD tested the 0.7260 USD level prior to rebounding as oil prices stabilised and is now trading at 0.7290 USD; NZDAUD at 0.9590 and could rise today if the Australian trade balance is below expectations
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5 Jul 17, 8:28am
Receivers re-enter the local interest rates market leading to a pull-back in the sharp run-up in rates. But it may only be a temporary respite
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5 Jul 17, 8:14am
Markets digested comments from the Riksbank, the ECB, BoC, and RBA over the past 24 hours; NZDUSD changed little from yesterday, still trading just under the 0.7300 level
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25 May 17, 8:26am
NZDUSD testing 0.7050 level and sits near the top of the leaderboard; Fed minutes from the May meeting supported a June rate hike and a gradual reduction of the balance sheet; Draghi plays down unwarranted side effects from negative rates
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25 May 17, 8:22am
NZ Budget expected to bring "a clear net fiscal stimulus" and ratings agencies likely to "make positive noises"
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