Doug Steel
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
28th 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
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
28th 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
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
27th 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
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
27th 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
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
26th 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
Upbeat news lifts all boats. RBNZ and RBA to make watched comments, Eyes then shift to signals from US Fed
26th Jul 17, 8:12am
Upbeat news lifts all boats. RBNZ and RBA to make watched comments, Eyes then shift to signals from US Fed
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%
25th 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%
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
24th 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
US benchmark yields "leak lower". German and UK yields follow. NZ yields lower and flatter
24th Jul 17, 8:08am
US benchmark yields "leak lower". German and UK yields follow. NZ yields lower and flatter
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
6th 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
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
6th 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
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
5th 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
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
5th 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
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
25th 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
NZ Budget expected to bring "a clear net fiscal stimulus" and ratings agencies likely to "make positive noises"
25th May 17, 8:22am
NZ Budget expected to bring "a clear net fiscal stimulus" and ratings agencies likely to "make positive noises"
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
24th 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
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
24th 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
Markets on lookout for signs of higher inflation - although the RBNZ seems unmoved and unconvinced by the local trend
17th May 17, 8:43am
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Markets on lookout for signs of higher inflation - although the RBNZ seems unmoved and unconvinced by the local trend
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
17th 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
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
16th 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
2017 lows being tested in NZ, despite some strong local retail data. Global yields edged up along with the oil price
16th 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
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
30th 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
ECB to sit pat. Fed speakers sing similar tunes. Local rates firm ahead of inflation clues. Offshore markets eye some important data signals
30th 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
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
29th 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
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
29th 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