Jason Wong
NZD is down 0.5% from this time yesterday to 0.6835 USD; soft China PMI data added to the woes of the NZD and dragged down the AUD as well; euro-area economic data showed a strong economy but weak inflation
1st Nov 17, 7:33am
NZD is down 0.5% from this time yesterday to 0.6835 USD; soft China PMI data added to the woes of the NZD and dragged down the AUD as well; euro-area economic data showed a strong economy but weak inflation
Rates fall worldwide despite positive consumer sentiment. Low German inflation may be behind the drop, and reports US tax cut proposals are faltering. Data rush coming
31st Oct 17, 8:41am
Rates fall worldwide despite positive consumer sentiment. Low German inflation may be behind the drop, and reports US tax cut proposals are faltering. Data rush coming
NZD started the week on a soft note as hedge funds sold the currency; USD is slightly weaker, with the TWI majors index down 0.2%; GBP is one of the best performers, up 0.6% to 1.3210 USD
31st Oct 17, 8:04am
NZD started the week on a soft note as hedge funds sold the currency; USD is slightly weaker, with the TWI majors index down 0.2%; GBP is one of the best performers, up 0.6% to 1.3210 USD
NZD was the best performing of the majors, although gains were modest; higher oil prices supported other commodity currencies; EUR the weakest of all majors
30th Oct 17, 7:57am
NZD was the best performing of the majors, although gains were modest; higher oil prices supported other commodity currencies; EUR the weakest of all majors
Focus goes on employment and jobs growth data. New NZ Govt won't add a jobless rate target to RBNZ mandate. Local rates may drift lower
30th Oct 17, 7:45am
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Focus goes on employment and jobs growth data. New NZ Govt won't add a jobless rate target to RBNZ mandate. Local rates may drift lower
ECB to halve its bond purchase program to €30 bln in January, EUR weaker and European rate lower on the day; NZD continued lower trend on stronger USD; long dated local swap rates rise a touch
27th Oct 17, 8:02am
ECB to halve its bond purchase program to €30 bln in January, EUR weaker and European rate lower on the day; NZD continued lower trend on stronger USD; long dated local swap rates rise a touch
Local swap rates little changed after being pulled by opposing forces, higher US rates and lower Australian rates. But markets price in higher long-term inflation to inflation-adjusted bonds
26th Oct 17, 8:04am
Local swap rates little changed after being pulled by opposing forces, higher US rates and lower Australian rates. But markets price in higher long-term inflation to inflation-adjusted bonds
NZD down to 0.6875 USD but up against the AUD and CAD; Australian CPI data was below expectations, triggering a weaker AUD; EUR supported by German business confidence indicators reaching all-time highs
26th Oct 17, 7:57am
NZD down to 0.6875 USD but up against the AUD and CAD; Australian CPI data was below expectations, triggering a weaker AUD; EUR supported by German business confidence indicators reaching all-time highs
NZD has been the standout performer down 1% to sub-0.69 and near its lows for the session; local swap curve showed rates flat to down 1bp; US 10-year rate nudges higher to 2.41%, past what many consider to be a key technical resistance level of 2.40%
25th Oct 17, 8:15am
NZD has been the standout performer down 1% to sub-0.69 and near its lows for the session; local swap curve showed rates flat to down 1bp; US 10-year rate nudges higher to 2.41%, past what many consider to be a key technical resistance level of 2.40%
The market’s interpretation of the new government is lower real rates consistent with a softer economy, but higher inflation and more tolerance for higher inflation, with an implied delay to any RBNZ rate hikes
24th Oct 17, 8:11am
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The market’s interpretation of the new government is lower real rates consistent with a softer economy, but higher inflation and more tolerance for higher inflation, with an implied delay to any RBNZ rate hikes
NZD is showing signs of forming a base after its initial swoon following the formation of a new government; USD has managed to hold onto gains seen since Friday; GBP has been supported over the past couple of trading sessions
24th Oct 17, 8:00am
NZD is showing signs of forming a base after its initial swoon following the formation of a new government; USD has managed to hold onto gains seen since Friday; GBP has been supported over the past couple of trading sessions
Change of Government expected to bring higher inflation expectations, increased debt issuance and an added risk premium for a steeper curve from here
20th Oct 17, 8:01am
Change of Government expected to bring higher inflation expectations, increased debt issuance and an added risk premium for a steeper curve from here
NZD significantly lower, down between 1.5% and 2.3% on all crosses, trading as low as 0.7012 USD and 0.8910 AUD; globally a slightly risk-off tone has enveloped the markets overnight
20th Oct 17, 7:43am
NZD significantly lower, down between 1.5% and 2.3% on all crosses, trading as low as 0.7012 USD and 0.8910 AUD; globally a slightly risk-off tone has enveloped the markets overnight
NZD modestly weaker on dairy auction, Government announcement. Market yawns at China speech. ECB taper to be 'drawn out'. Global bond rates push higher
19th Oct 17, 8:00am
NZD modestly weaker on dairy auction, Government announcement. Market yawns at China speech. ECB taper to be 'drawn out'. Global bond rates push higher
USD up on all key crosses, up 0.25% on the TWI majors index; UST 10yr yields traded up to 2.32% before settling just above 2.30%; NZD little changed after trading a 50 point range; strong CPI data put upwards pressure on local rates
18th Oct 17, 7:47am
USD up on all key crosses, up 0.25% on the TWI majors index; UST 10yr yields traded up to 2.32% before settling just above 2.30%; NZD little changed after trading a 50 point range; strong CPI data put upwards pressure on local rates
NZ rates followed the US rates down from Friday, but US rates turned up today. EU rates lower. Eyes now on NZ CPI and next dairy auction
17th Oct 17, 8:05am
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NZ rates followed the US rates down from Friday, but US rates turned up today. EU rates lower. Eyes now on NZ CPI and next dairy auction
Spot rates within 0.1% of last week's close against the USD, except for a softer CAD and AUD; NZD stuck in a range between 0.7165 and 0.7195 USD; GBP saw a little bit of volatility, up a bit as PM May heads to Brussels
17th Oct 17, 8:00am
Spot rates within 0.1% of last week's close against the USD, except for a softer CAD and AUD; NZD stuck in a range between 0.7165 and 0.7195 USD; GBP saw a little bit of volatility, up a bit as PM May heads to Brussels
US data shows inflation lower than expected, retail sales and confidence higher. Yellen expects inflation to move higher; not everyone agrees. USD falls, then recovers. NZD ready for political risk reaction
16th Oct 17, 7:48am
US data shows inflation lower than expected, retail sales and confidence higher. Yellen expects inflation to move higher; not everyone agrees. USD falls, then recovers. NZD ready for political risk reaction
UST 10yr yields trading at 2.34%, about 2 bps lower than the NZ close; local rates market was quiet yesterday, with rates down 1-2 bps across the swaps and government curves, driven by global forces
12th Oct 17, 8:00am
UST 10yr yields trading at 2.34%, about 2 bps lower than the NZ close; local rates market was quiet yesterday, with rates down 1-2 bps across the swaps and government curves, driven by global forces
NZD tracks sideways after 8 consecutive days of falling; EUR continued to show signs of modest recovery; US Fed minutes show that participants are concerned that low inflation readings may be due to persistent factors
12th Oct 17, 7:53am
NZD tracks sideways after 8 consecutive days of falling; EUR continued to show signs of modest recovery; US Fed minutes show that participants are concerned that low inflation readings may be due to persistent factors
NZD closed the week at 0.7090 USD, after falling to a low 0.7059; market pricing in an 80% chance of a Fed rate hike in December, after a strong US employment report; UST 10yr yields were 1 bp higher relative to NZ close
9th Oct 17, 8:05am
NZD closed the week at 0.7090 USD, after falling to a low 0.7059; market pricing in an 80% chance of a Fed rate hike in December, after a strong US employment report; UST 10yr yields were 1 bp higher relative to NZ close
UST 10yr rises to 2.35% on Fed talk. Eyes on US NFPs. Aussie retail hits local swap rates. Markets not worried even if National loses up to two seats in final election count
6th Oct 17, 8:00am
UST 10yr rises to 2.35% on Fed talk. Eyes on US NFPs. Aussie retail hits local swap rates. Markets not worried even if National loses up to two seats in final election count
USD has made broadly based gains as some clouds overhang other currencies; AUD was hit yesterday after much weaker than expected retail sales data; fall in the NZD to below 0.7120 reflects the combination of USD strength and some spillover from a soft AUD
6th Oct 17, 7:49am
USD has made broadly based gains as some clouds overhang other currencies; AUD was hit yesterday after much weaker than expected retail sales data; fall in the NZD to below 0.7120 reflects the combination of USD strength and some spillover from a soft AUD
Lower global rates weigh on NZ swaps. German rates slip. US data strong and Fed leadership speculation rises
5th Oct 17, 8:12am
Lower global rates weigh on NZ swaps. German rates slip. US data strong and Fed leadership speculation rises
NZD trading around the 0.7160 USD level; broad-based USD weakness was seen during the local trading session; AUD has slightly outperformed, which sees NZDAUD down slightly at 0.9120
5th Oct 17, 7:53am
NZD trading around the 0.7160 USD level; broad-based USD weakness was seen during the local trading session; AUD has slightly outperformed, which sees NZDAUD down slightly at 0.9120