Jason Wong
US CPI was lower than expectations for the fourth consecutive month, USD majors index is down 0.7%, US rates recovered losses to close 1 bps lower; NZD made the smallest gain of all majors against the USD, up 0.4%; local rate curve steepened on Friday
17th Jul 17, 8:08am
US CPI was lower than expectations for the fourth consecutive month, USD majors index is down 0.7%, US rates recovered losses to close 1 bps lower; NZD made the smallest gain of all majors against the USD, up 0.4%; local rate curve steepened on Friday
NZD and AUD up to 0.7325 and 0.7730 USD respectively, both trading in a significant area of resistance; USD flat prior to inflation release tonight, which has missed the target in the last three releases; global yields up on news of potential ECB tapering
14th Jul 17, 8:05am
NZD and AUD up to 0.7325 and 0.7730 USD respectively, both trading in a significant area of resistance; USD flat prior to inflation release tonight, which has missed the target in the last three releases; global yields up on news of potential ECB tapering
NZD and AUD up about 0.6% after Janet Yellen's testimony, trading at 0.7265 and 0.7680 USD respectively; Fed may not need to raise rates much further to maintain supply and demand in the economy; CAD outperforms as BoC begins tightening cycle
13th Jul 17, 8:06am
NZD and AUD up about 0.6% after Janet Yellen's testimony, trading at 0.7265 and 0.7680 USD respectively; Fed may not need to raise rates much further to maintain supply and demand in the economy; CAD outperforms as BoC begins tightening cycle
Falling local yields expected to continue, driven by lower house price inflation, weak food prices, and slipping global rates
13th Jul 17, 8:02am
Falling local yields expected to continue, driven by lower house price inflation, weak food prices, and slipping global rates
Politics keeps US rates from following European rates up. Focus turns to Yellen testimony. Return of receiving interest noted in local markets
12th Jul 17, 8:18am
Politics keeps US rates from following European rates up. Focus turns to Yellen testimony. Return of receiving interest noted in local markets
Weak electronic card transactions and ANZ inflation gauge saw the NZD fall to 0.7202 USD prior to recovering to 0.7240 as the USD weakened; USD lower as emails suggest that Russian government helped Trump campaign; EURUSD rises to 14-month high
12th Jul 17, 7:41am
Weak electronic card transactions and ANZ inflation gauge saw the NZD fall to 0.7202 USD prior to recovering to 0.7240 as the USD weakened; USD lower as emails suggest that Russian government helped Trump campaign; EURUSD rises to 14-month high
NZD opens 0.7275 USD this morning, where all major currencies, except NOK, are with 0.1% of their Friday close; NOK was up 0.5% on higher than expected CPI
11th Jul 17, 7:54am
NZD opens 0.7275 USD this morning, where all major currencies, except NOK, are with 0.1% of their Friday close; NOK was up 0.5% on higher than expected CPI
NZ swap rates rise modestly in contrast to softer yields in the US and Europe. But markets wonder if this little more than a temporary respite from the recent global rates sell-off
11th Jul 17, 7:50am
NZ swap rates rise modestly in contrast to softer yields in the US and Europe. But markets wonder if this little more than a temporary respite from the recent global rates sell-off
NZD traded in a tight range apart from some volatility around the US payroll data, closing at 0.7280 USD; US payroll data stronger than expected, signalling robust economic growth; UK data weaker than expected, lowers rate hike expectations
10th Jul 17, 8:05am
NZD traded in a tight range apart from some volatility around the US payroll data, closing at 0.7280 USD; US payroll data stronger than expected, signalling robust economic growth; UK data weaker than expected, lowers rate hike expectations
Yellen concerned about asset prices and impact on financial stability, which may outweigh inflation in future rate decisions
10th Jul 17, 7:26am
Yellen concerned about asset prices and impact on financial stability, which may outweigh inflation in future rate decisions
Europe leads the global bond sell-off, which has also spilled over to the US markets, setting a risk-off tone; NZD and AUD at the bottom of the leaderboard; local rates lower yesterday but upside pressure expected on the open
7th Jul 17, 8:04am
Europe leads the global bond sell-off, which has also spilled over to the US markets, setting a risk-off tone; NZD and AUD at the bottom of the leaderboard; local rates lower yesterday but upside pressure expected on the open
Bond market complacency ends following the coordinated major central bank change in policy guidance. A more volatile period for the rates market could well prevail over coming months
4th Jul 17, 8:14am
Bond market complacency ends following the coordinated major central bank change in policy guidance. A more volatile period for the rates market could well prevail over coming months
NZD falls to around 0.7300 USD as USD recovers; USD major currency index up 0.5%; Yen continues to underperform; business surveys point to global economic recovery extending
4th Jul 17, 7:51am
NZD falls to around 0.7300 USD as USD recovers; USD major currency index up 0.5%; Yen continues to underperform; business surveys point to global economic recovery extending
NZD ended the week at 0.7330 USD on the back of a soft USD, up 0.5% for the day; Yen the was again one of the worst performing currencies; AUD up 1.6% for the week as iron ore prices rose 14.5%
3rd Jul 17, 7:58am
NZD ended the week at 0.7330 USD on the back of a soft USD, up 0.5% for the day; Yen the was again one of the worst performing currencies; AUD up 1.6% for the week as iron ore prices rose 14.5%
Global bond selloff based on coordinated central bank messaging, has seen sharp yield gains in the past week, even in New Zealand which is ignoring recent RBNZ guidance
3rd Jul 17, 7:21am
Global bond selloff based on coordinated central bank messaging, has seen sharp yield gains in the past week, even in New Zealand which is ignoring recent RBNZ guidance
Less dovish comments from central banks are driving a global bond and equity sell-off, which is being led by Europe; NZD the worst performing currency, along with a soft USD, in a risk-off environment
30th Jun 17, 8:02am
Less dovish comments from central banks are driving a global bond and equity sell-off, which is being led by Europe; NZD the worst performing currency, along with a soft USD, in a risk-off environment
German bonds trade in a wide range as markets decipher ECB policy; US Treasuries followed gyrations in German rates; local rates were up following previous day's offshore move
29th Jun 17, 7:57am
German bonds trade in a wide range as markets decipher ECB policy; US Treasuries followed gyrations in German rates; local rates were up following previous day's offshore move
Central bankers outling a more positive tone and signalling removal of monetary accommodation, supported the CAD, EUR and GBP; NZD still trading around 0.7300 USD; AUD remains supported by commodity prices
29th Jun 17, 7:49am
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Central bankers outling a more positive tone and signalling removal of monetary accommodation, supported the CAD, EUR and GBP; NZD still trading around 0.7300 USD; AUD remains supported by commodity prices
NZDUSD continues to test the 0.7300 resistance level, now trading at 0.7280; US rates higer and curve steeper, this should translate to higher local rates today; EUR surges and German bonds rise on hawkish comments by Draghi, effects spill over to the GBP
28th Jun 17, 7:46am
NZDUSD continues to test the 0.7300 resistance level, now trading at 0.7280; US rates higer and curve steeper, this should translate to higher local rates today; EUR surges and German bonds rise on hawkish comments by Draghi, effects spill over to the GBP
Another quiet day for the markets, with most currency movements against the USD within 0.2% of the previous close; AUD and CAD up slightly as oil prices rise for the third consecutive day; Yen underperforms
27th Jun 17, 8:00am
Another quiet day for the markets, with most currency movements against the USD within 0.2% of the previous close; AUD and CAD up slightly as oil prices rise for the third consecutive day; Yen underperforms
Interest rates vulnerable to rises on good news. But near term looks like a period of consolidation. Our yield curve will be largely determined by the path of US long-term rates
27th Jun 17, 7:56am
Interest rates vulnerable to rises on good news. But near term looks like a period of consolidation. Our yield curve will be largely determined by the path of US long-term rates
UST 10yr bonds traded in a 2.5 bps range, tending towards the bottom of the range at market close; NZ swap curve barely changed with 2yr rate at 2.205% and 10yr at 3.1350%; strong demand for 20yr NZ government bonds; local bond yields lower
26th Jun 17, 8:17am
UST 10yr bonds traded in a 2.5 bps range, tending towards the bottom of the range at market close; NZ swap curve barely changed with 2yr rate at 2.205% and 10yr at 3.1350%; strong demand for 20yr NZ government bonds; local bond yields lower
All major currencies were up 0.3-0.4% against the USD, with NZD gaining 0.3% to trade at 0.7285 at last week's close; NZD largely flat against other majors but downside risk exists from speculative long positions being at highest levels in 4 years
26th Jun 17, 8:07am
All major currencies were up 0.3-0.4% against the USD, with NZD gaining 0.3% to trade at 0.7285 at last week's close; NZD largely flat against other majors but downside risk exists from speculative long positions being at highest levels in 4 years
NZD up 0.6% since RBNZ's OCR review, now trading at 0.7265 USD; US and local yields remain tightly range bound; CAD the best performer as oil prices find support and data releases exceed expectations
23rd Jun 17, 8:11am
NZD up 0.6% since RBNZ's OCR review, now trading at 0.7265 USD; US and local yields remain tightly range bound; CAD the best performer as oil prices find support and data releases exceed expectations
Commodity currencies marginally lower against the USD; NZD down against most majors; local rates had modest downwards pressure from previous day's US moves; GBP recovers some lost ground
22nd Jun 17, 8:20am
Commodity currencies marginally lower against the USD; NZD down against most majors; local rates had modest downwards pressure from previous day's US moves; GBP recovers some lost ground