Credit Ratings
President Trump blamed China and the EU for manipulating their currencies and interest rates and again questioning the Fed for raising rates; USD fell sharply; NZD has moved up above 0.68; UST 10 year yield up 4bps on the day to 2.89%
23rd Jul 18, 8:07am
President Trump blamed China and the EU for manipulating their currencies and interest rates and again questioning the Fed for raising rates; USD fell sharply; NZD has moved up above 0.68; UST 10 year yield up 4bps on the day to 2.89%
US dollar index made a fresh year-to-date high overnight; CNY made a new low for the year; NZD moved lower overnight, in sympathy with the moves in the CNY; US Treasury yields are 2 to 3bps lower on the day
20th Jul 18, 8:09am
US dollar index made a fresh year-to-date high overnight; CNY made a new low for the year; NZD moved lower overnight, in sympathy with the moves in the CNY; US Treasury yields are 2 to 3bps lower on the day
USD DXY rose close to its year-to-date highs during the London morning, before retreating; GBP is again the weakest performing currency; NZD has moved up close to 0.68, supported by the improvement in risk appetite and probably some position squaring
19th Jul 18, 8:06am
USD DXY rose close to its year-to-date highs during the London morning, before retreating; GBP is again the weakest performing currency; NZD has moved up close to 0.68, supported by the improvement in risk appetite and probably some position squaring
Fed intends to stick to its gradual rate rise path “for now”; US equities are higher on the day and the USD stronger; NZD is the top performing currency over the past 24 hours
18th Jul 18, 8:03am
Fed intends to stick to its gradual rate rise path “for now”; US equities are higher on the day and the USD stronger; NZD is the top performing currency over the past 24 hours
NZD is one of the outperformers, up around 0.3% to 0.6776 USD; GBP is one of the worst performing currencies; Chinese activity data showed GDP meeting expectations in Q2
17th Jul 18, 8:04am
NZD is one of the outperformers, up around 0.3% to 0.6776 USD; GBP is one of the worst performing currencies; Chinese activity data showed GDP meeting expectations in Q2
NZD ended the week just below 0.6770, a 0.4% fall on the day while the NZDAUD fell 0.5%; US dollar had a round-trip on Friday before ending weaker against most currencies; EUR closed higher on the day at 1.1686
16th Jul 18, 8:04am
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NZD ended the week just below 0.6770, a 0.4% fall on the day while the NZDAUD fell 0.5%; US dollar had a round-trip on Friday before ending weaker against most currencies; EUR closed higher on the day at 1.1686
Against a backdrop of better risk sentiment, the NZD has bounced a little, but it remains near multi-year lows; US bond yields are near unchanged on the day; AUD is the strongest performer
13th Jul 18, 8:05am
Against a backdrop of better risk sentiment, the NZD has bounced a little, but it remains near multi-year lows; US bond yields are near unchanged on the day; AUD is the strongest performer
President Trump continued with plans to impose tariffs on an additional $200b of Chinese goods; equity markets, US bond yields, and commodity prices generally fell; AUD and NZD continued to press lower overnight
12th Jul 18, 8:10am
President Trump continued with plans to impose tariffs on an additional $200b of Chinese goods; equity markets, US bond yields, and commodity prices generally fell; AUD and NZD continued to press lower overnight
Key equity markets are higher; NZD pushed up towards the 0.68 mark overnight where it met some resistance; AUD is flat to slightly lower; US 10-year treasury rates have traded in a 2.82-2.86% range and are flat versus the level at the NZ close
6th Jul 18, 8:02am
Key equity markets are higher; NZD pushed up towards the 0.68 mark overnight where it met some resistance; AUD is flat to slightly lower; US 10-year treasury rates have traded in a 2.82-2.86% range and are flat versus the level at the NZ close
The fortunes of the NZD remained linked to CNY, with a further recovery to as high as 0.6783 after the reported CNY fix; EUR recovered from a low of 1.1630 and currently sits at 1.665; trade wars continue
5th Jul 18, 8:00am
The fortunes of the NZD remained linked to CNY, with a further recovery to as high as 0.6783 after the reported CNY fix; EUR recovered from a low of 1.1630 and currently sits at 1.665; trade wars continue
NZD has recovered, helped by a verbal intervention by the PBoC to help support the yuan; US equities and bond yields have moved lower; USD is broadly weaker across the board
4th Jul 18, 8:00am
NZD has recovered, helped by a verbal intervention by the PBoC to help support the yuan; US equities and bond yields have moved lower; USD is broadly weaker across the board
NZD and AUD dive to fresh lows; despite the negative risk tone, global bond yields remain steady; USD has been the strongest of the majors
3rd Jul 18, 8:18am
NZD and AUD dive to fresh lows; despite the negative risk tone, global bond yields remain steady; USD has been the strongest of the majors
Markets ignore US inflation rise. NZ wholesale rates continue downward bias. US-initiated trade tensions rise so risk remains elevated
2nd Jul 18, 7:54am
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Markets ignore US inflation rise. NZ wholesale rates continue downward bias. US-initiated trade tensions rise so risk remains elevated
USD was broadly weak on Friday; this saw the NZD recover a little from a fresh 2-year low; EUR rose from around 1.1570 to end the week more than a cent higher at 1.1685; CAD was the strongest of the majors in Friday night trading
2nd Jul 18, 7:52am
USD was broadly weak on Friday; this saw the NZD recover a little from a fresh 2-year low; EUR rose from around 1.1570 to end the week more than a cent higher at 1.1685; CAD was the strongest of the majors in Friday night trading
Kiwi currency at fresh two-year low after dovish OCR review. Meanwhile, the EUR is keeping pace with teh USD. But Fed member now hearing "full-throated angst" about prospects for the US economy
29th Jun 18, 7:51am
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Kiwi currency at fresh two-year low after dovish OCR review. Meanwhile, the EUR is keeping pace with teh USD. But Fed member now hearing "full-throated angst" about prospects for the US economy
NZD has been one of the worst performers; local rates curve saw a slight steepening bias; US equities slightly lower and UST10s down 5bps; WTI oil prices rose over 3%
28th Jun 18, 8:06am
NZD has been one of the worst performers; local rates curve saw a slight steepening bias; US equities slightly lower and UST10s down 5bps; WTI oil prices rose over 3%
Against a backdrop of a broadly stronger USD, the NZD has underperformed, while rates markets have barely moved; higher oil prices seem to have offered some support to CAD and AUD; US 10-year rate in a tight range and steady at 2.88%
27th Jun 18, 8:07am
Against a backdrop of a broadly stronger USD, the NZD has underperformed, while rates markets have barely moved; higher oil prices seem to have offered some support to CAD and AUD; US 10-year rate in a tight range and steady at 2.88%
Global equity markets have been rattled by focus on escalating US-China trade tensions; commodity currencies have underperformed but movements have been modest; safe-havens have outperformed; bond market reaction to the trade news has been well contained
26th Jun 18, 7:57am
Global equity markets have been rattled by focus on escalating US-China trade tensions; commodity currencies have underperformed but movements have been modest; safe-havens have outperformed; bond market reaction to the trade news has been well contained
NZD and AUD ended the week on a positive note; USD struggled to perform against the majors; rates were little changed for the day; PBoC cut the reserve ratio requirement for large commercial banks; focus will remain on the US-China trade war
25th Jun 18, 8:01am
NZD and AUD ended the week on a positive note; USD struggled to perform against the majors; rates were little changed for the day; PBoC cut the reserve ratio requirement for large commercial banks; focus will remain on the US-China trade war
Equity markets and global bond yields have fallen modestly overnight; GBP is stronger on the day; NZD made a new year-to-date low yesterday; NZ 10 year bond yield up 7bps
22nd Jun 18, 8:02am
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Equity markets and global bond yields have fallen modestly overnight; GBP is stronger on the day; NZD made a new year-to-date low yesterday; NZ 10 year bond yield up 7bps
Fed's Powell says case for continued gradual increases in the federal funds rate is strong; USD DXY index up marginally on day; UST 10 yr yields pushed higher; NZD sits at the bottom of the G10 currency leaderboard; local rates were marginally higher
21st Jun 18, 8:08am
Fed's Powell says case for continued gradual increases in the federal funds rate is strong; USD DXY index up marginally on day; UST 10 yr yields pushed higher; NZD sits at the bottom of the G10 currency leaderboard; local rates were marginally higher
Trump announced that he was considering tariffs on $200b worth of Chinese imports; markets have recovered some ground overnight after a generalised flight to safety move; NZD down to around 0.69 USD; UST yields lower
20th Jun 18, 7:58am
Trump announced that he was considering tariffs on $200b worth of Chinese imports; markets have recovered some ground overnight after a generalised flight to safety move; NZD down to around 0.69 USD; UST yields lower
NZD is down very slightly from Friday night’s close of 0.6940 and has traded a relatively tight range overnight; concerns about Chinese growth have likely weighed on the AUD; GBP is down 0.2%
19th Jun 18, 8:04am
NZD is down very slightly from Friday night’s close of 0.6940 and has traded a relatively tight range overnight; concerns about Chinese growth have likely weighed on the AUD; GBP is down 0.2%
Commodities bear brunt of escalating trade restriction actions and emerging economies also buffeted, but New Zealand gets off very lightly
18th Jun 18, 8:14am
Commodities bear brunt of escalating trade restriction actions and emerging economies also buffeted, but New Zealand gets off very lightly
USD is stronger across the board while the EUR has been hit by a dovish ECB; global rates faced downward pressure; NZD has performed better than most but the USD strength sees it down to around 0.6980
15th Jun 18, 8:01am
USD is stronger across the board while the EUR has been hit by a dovish ECB; global rates faced downward pressure; NZD has performed better than most but the USD strength sees it down to around 0.6980