Doug Steel

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Articles by Doug Steel

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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24 May 17, 8:53am
NZD tops currency leaderboard for second day running; Trump's budget, plans to cut spending by $3.6 tln over next 10 years; GBP spooked after bombing in Manchester yesterday
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24 May 17, 8:11am
Solid data and improving risk sentiment pushes up oil prices and global yields. Markets price in a US Fed hike. Expect local yields to rise today
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17 May 17, 8:43am
Markets on lookout for signs of higher inflation - although the RBNZ seems unmoved and unconvinced by the local trend
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17 May 17, 8:21am
USD breaks below the 200-day moving average and the DXY is down to its lowest level since November's election; despite positive dairy auction and USD weakness, NZD did not find upward momentum and traded a tight 40 pip range
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16 May 17, 8:36am
Oil prices jumped higher as production cuts extended, up 1.9% for the day; NZD was supported by a rise in oil prices but has lost some of its gains, opening at 0.6880 USD; AUD retained some gains and NZDAUD now trades at 0.9270
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16 May 17, 8:29am
2017 lows being tested in NZ, despite some strong local retail data. Global yields edged up along with the oil price
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30 Mar 17, 8:36am
NZD opens at 0.7030 USD after testing lows just below 0.7000, lower against the AUD at 0.9170; USD DXY up 0.3% on European currency weakness; UK triggered Article 50 and the Brexit process officially began last night
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30 Mar 17, 8:23am
ECB to sit pat. Fed speakers sing similar tunes. Local rates firm ahead of inflation clues. Offshore markets eye some important data signals
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29 Mar 17, 8:31am
Many US Fed officials speaking but Fischer's TV slot saying two more due in 2017 boosts markets. UST yields rise. Local rates may see upward pressure as a result
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29 Mar 17, 8:28am
USD was supported by firm data and Fed speak overnight, reversing the downward trend seen over the last two weeks, DXY up 0.6%; AUD pushed higher on strong oil and iron ore prices; NZD, as a result, down to 0.7020 USD and 0.9190 AUD
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28 Mar 17, 8:39am
Despite the chorus of Fed speakers talking up the need for even more 2017 rate hikes, markets are sceptcal, especially for the longer term
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28 Mar 17, 8:33am
NZDUSD traded a tight 30 point range to start the day at 0.7040; USD dollar index (DXY) continued its decline, dropping to the lowest level since November last year; EUR and GBP outperform
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21 Mar 17, 8:51am
Fed speakers offer varied opinions but no clear steer.  UST 10yr weakens and flattens all within settled range. Local rates to follow lower
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