Nick Smyth
USD closed the week slightly lower against most of the G10, although the movements were very modest; NZD traded a narrow range on Friday night, ending the week just below 0.6970 USD; Budget on Thursday is the key event for the local rates
14th May 18, 8:07am
USD closed the week slightly lower against most of the G10, although the movements were very modest; NZD traded a narrow range on Friday night, ending the week just below 0.6970 USD; Budget on Thursday is the key event for the local rates
NZD is the worst performing currency the past 24 hours; local rates lower; GBP was the second worst performing currency; USD fell after a slightly lower than expected US core CPI release; UST yields declined slightly
11th May 18, 7:58am
NZD is the worst performing currency the past 24 hours; local rates lower; GBP was the second worst performing currency; USD fell after a slightly lower than expected US core CPI release; UST yields declined slightly
UST 10yr up over 3% again despite weaker US PPI. Eyes on US CPI data. Eyes also on the new RBNZ Governor and the MPS
10th May 18, 8:11am
UST 10yr up over 3% again despite weaker US PPI. Eyes on US CPI data. Eyes also on the new RBNZ Governor and the MPS
USD has extended its recent gains overnight, with the Bloomberg DXY moving up to a new high for 2018; NZD broke below 0.70 to a low of 0.6954, before bouncing back slightly to 0.6965; US 10 year Treasury is up 2bps to 2.97%
9th May 18, 7:59am
USD has extended its recent gains overnight, with the Bloomberg DXY moving up to a new high for 2018; NZD broke below 0.70 to a low of 0.6954, before bouncing back slightly to 0.6965; US 10 year Treasury is up 2bps to 2.97%
Oil prices pushed on to a new post-2014 high; USD is generally stronger, with the Bloomberg DXY and the (euro-centric) DXY both making new highs for 2018; GBP is the strongest currency in the G10
8th May 18, 8:29am
Oil prices pushed on to a new post-2014 high; USD is generally stronger, with the Bloomberg DXY and the (euro-centric) DXY both making new highs for 2018; GBP is the strongest currency in the G10
USD moved higher after payrolls, in tandem with the increase in Treasury yields off the intraday lows, Bloomberg DXY was up 0.2%; NZD hit a low of 0.6994 after payrolls, before recovering to end the week at 0.7020
7th May 18, 8:23am
USD moved higher after payrolls, in tandem with the increase in Treasury yields off the intraday lows, Bloomberg DXY was up 0.2%; NZD hit a low of 0.6994 after payrolls, before recovering to end the week at 0.7020
Mixed US payrolls data, deadlocked China talks, EMs doing it tough, but UST 10yr yields little changed at 2.95%. Eyes on commodity risks
7th May 18, 7:46am
Mixed US payrolls data, deadlocked China talks, EMs doing it tough, but UST 10yr yields little changed at 2.95%. Eyes on commodity risks
Mixed US data ahead of Q1 GDP which is expected to be modest. Oil prices jump on Iran tiff between Trump and Macron
27th Apr 18, 8:19am
Mixed US data ahead of Q1 GDP which is expected to be modest. Oil prices jump on Iran tiff between Trump and Macron
President Draghi acknowledged “some moderation in growth” but noted the economic recovery was still solid, EUR fell to 1.21; NZD still trading close to where it was this time yesterday at 0.7060 USD
27th Apr 18, 7:43am
President Draghi acknowledged “some moderation in growth” but noted the economic recovery was still solid, EUR fell to 1.21; NZD still trading close to where it was this time yesterday at 0.7060 USD
Foundations for US rates above 3% are far stronger this time around than they were last time they hit this level
26th Apr 18, 8:12am
Foundations for US rates above 3% are far stronger this time around than they were last time they hit this level
USD higher as the Bloomberg DXY moving to its highest levels since mid-January; EUR has fallen below 1.22; NZD has fallen to year-to-date lows over the past two days, and currently sits just above 0.7050 USD
26th Apr 18, 8:10am
USD higher as the Bloomberg DXY moving to its highest levels since mid-January; EUR has fallen below 1.22; NZD has fallen to year-to-date lows over the past two days, and currently sits just above 0.7050 USD
USD strengthened across the board for the third day running, Bloomberg DXY rose around 0.75%; EUR has fallen to 1.2200 USD; NZD has followed the broad USD move and moved down towards 0.7150
24th Apr 18, 8:11am
USD strengthened across the board for the third day running, Bloomberg DXY rose around 0.75%; EUR has fallen to 1.2200 USD; NZD has followed the broad USD move and moved down towards 0.7150
Markets push bond yields higher on inflation expectations. Curves steepen. US pulls back from some tough positions on China, Russia. Wall Street up, then down
24th Apr 18, 7:55am
Markets push bond yields higher on inflation expectations. Curves steepen. US pulls back from some tough positions on China, Russia. Wall Street up, then down
The USD was stronger across the board for a second day running, Bloomberg DXY was around 0.5% higher; EUR fell below 1.23 on Friday, a two week low; commodity currencies were among the worst performers on Friday, with the NZD down almost 1%
23rd Apr 18, 7:47am
The USD was stronger across the board for a second day running, Bloomberg DXY was around 0.5% higher; EUR fell below 1.23 on Friday, a two week low; commodity currencies were among the worst performers on Friday, with the NZD down almost 1%
Commodity price rises boost inflation expectations, in turn push bond yields up. Eyes on US corporate earnings. US-China trade tension risk seen easing
23rd Apr 18, 7:21am
Commodity price rises boost inflation expectations, in turn push bond yields up. Eyes on US corporate earnings. US-China trade tension risk seen easing
Politics spruik commodity prices. Rising inflation expectations lift bond yields. Equities fall despite most earnings reports beating expectations
20th Apr 18, 8:10am
Politics spruik commodity prices. Rising inflation expectations lift bond yields. Equities fall despite most earnings reports beating expectations
Bloomberg dollar index is up around 0.5% on higher US interest rates and little fresh news on trade tensions; Yen has outperformed; NZD has declined to around 0.7265
20th Apr 18, 7:43am
Bloomberg dollar index is up around 0.5% on higher US interest rates and little fresh news on trade tensions; Yen has outperformed; NZD has declined to around 0.7265
Oil prices hit a post-2014 high in boost to junk bond market. Market expectations of inflation also rise, reflected in rise in UST 10yr yields
19th Apr 18, 8:07am
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Oil prices hit a post-2014 high in boost to junk bond market. Market expectations of inflation also rise, reflected in rise in UST 10yr yields
CAD is the weakest currency overnight; GBP is the other underperformer; EUR is largely unchanged; NZD fell to just above 0.73 in the London morning, before recovering to around 0.7325 now
19th Apr 18, 7:43am
CAD is the weakest currency overnight; GBP is the other underperformer; EUR is largely unchanged; NZD fell to just above 0.73 in the London morning, before recovering to around 0.7325 now
Markets and Fed officials turning their attention to the flattening yield curve. VIX eases as political and trade tension sease. Wall Street rises strongly
18th Apr 18, 8:10am
Markets and Fed officials turning their attention to the flattening yield curve. VIX eases as political and trade tension sease. Wall Street rises strongly
EUR has fallen back from above 1.24 after a weaker German ZEW survey; GBP made a new post-Brexit high overnight; NZD is again one of the underperformers overnight
18th Apr 18, 8:09am
EUR has fallen back from above 1.24 after a weaker German ZEW survey; GBP made a new post-Brexit high overnight; NZD is again one of the underperformers overnight
Fed officials warn that they shouldn’t overreact to a modest inflation overshoot. UST 10yr rangebound. Likely Fed vice-chair nominee sees lower 'neutral rate'
17th Apr 18, 8:07am
Fed officials warn that they shouldn’t overreact to a modest inflation overshoot. UST 10yr rangebound. Likely Fed vice-chair nominee sees lower 'neutral rate'
USD weaker on Trump comments on China and Russia, Bloomberg DXY fell around 0.3% on the day; NZD is unchanged overnight, and is one of the worst performers
17th Apr 18, 7:55am
USD weaker on Trump comments on China and Russia, Bloomberg DXY fell around 0.3% on the day; NZD is unchanged overnight, and is one of the worst performers
US 2-10 curve flattest since 2007. US earnings season only has downside risk. Oil prices now highest since 2014. VIX at 1 month low. Eyes on NZ CPI
16th Apr 18, 8:10am
US 2-10 curve flattest since 2007. US earnings season only has downside risk. Oil prices now highest since 2014. VIX at 1 month low. Eyes on NZ CPI
US 10-year Treasury rate has traded a 2.80-2.83% range, now well up from the 2.72% low seen earlier this week; NZ rates followed global rates higher, along with some curve steepening
6th Apr 18, 8:24am
US 10-year Treasury rate has traded a 2.80-2.83% range, now well up from the 2.72% low seen earlier this week; NZ rates followed global rates higher, along with some curve steepening