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Higher risk appetite the theme overnight. US equities higher, global rates higher, NZD and AUD higher. NZ rates higher, now pricing in almost two full 25bps rate hikes over the remaining RBNZ meetings this year
26th Aug 21, 7:46am
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Higher risk appetite the theme overnight. US equities higher, global rates higher, NZD and AUD higher. NZ rates higher, now pricing in almost two full 25bps rate hikes over the remaining RBNZ meetings this year
Risk appetite continues to increase driving up US equities, commodity prices and commodity currencies. RBNZ reinforces its policy message of higher rates, de-linked to the current COVID outbreak
25th Aug 21, 7:43am
Risk appetite continues to increase driving up US equities, commodity prices and commodity currencies. RBNZ reinforces its policy message of higher rates, de-linked to the current COVID outbreak
The new week begins with a recovery in risk appetite. Markets attune to some better news on COVID19. Oil up over 5%; commodity currencies up 1%, USD broadly weaker. Rates market asleep
24th Aug 21, 7:46am
The new week begins with a recovery in risk appetite. Markets attune to some better news on COVID19. Oil up over 5%; commodity currencies up 1%, USD broadly weaker. Rates market asleep
Roger J Kerr sees a likely 'sideways shuffle' in the value of the Kiwi dollar and then rising back above US70c in the medium to longer term
23rd Aug 21, 7:59am
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Roger J Kerr sees a likely 'sideways shuffle' in the value of the Kiwi dollar and then rising back above US70c in the medium to longer term
Equity markets, industrial commodities rebound as Dallas Fed President Kaplan (a 'hawk') hints he is open to delaying tapering. NZD stabilises on Friday but still down heavily (~3%) on the week
23rd Aug 21, 7:51am
Equity markets, industrial commodities rebound as Dallas Fed President Kaplan (a 'hawk') hints he is open to delaying tapering. NZD stabilises on Friday but still down heavily (~3%) on the week
Commodities sharply lower over the past 24 hours on global growth concerns. NZD and AUD print fresh YTD lows, USD makes a 9-month high. NZ rates market pares back OCR rate hike expectations yesterday with Covid case numbers in focus
20th Aug 21, 8:01am
Commodities sharply lower over the past 24 hours on global growth concerns. NZD and AUD print fresh YTD lows, USD makes a 9-month high. NZ rates market pares back OCR rate hike expectations yesterday with Covid case numbers in focus
Hawkish hold from RBNZ sees NZD volatility but little net change; NZ curve steepens a little. Nerves ahead of FOMC minutes, but fears of some hawkish soundbites not realised. Fresh year-to-date lows for EUR, AUD and NZD printed but moderate changes in FX
19th Aug 21, 8:00am
Hawkish hold from RBNZ sees NZD volatility but little net change; NZ curve steepens a little. Nerves ahead of FOMC minutes, but fears of some hawkish soundbites not realised. Fresh year-to-date lows for EUR, AUD and NZD printed but moderate changes in FX
NZD and rates plunge as market reassesses near term monetary policy outlook. Weaker US retail sales send US equities lower, USD higher. NZD finds support at 0.69
18th Aug 21, 8:10am
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NZD and rates plunge as market reassesses near term monetary policy outlook. Weaker US retail sales send US equities lower, USD higher. NZD finds support at 0.69
A cautious start to the week following soft China economic data. Commodity currencies underperform; US 10-year rate nudges lower. NZD holds head above 0.70
17th Aug 21, 8:25am
A cautious start to the week following soft China economic data. Commodity currencies underperform; US 10-year rate nudges lower. NZD holds head above 0.70
Roger J Kerr says the 'reconnecting to the world' plan announced last week had no targets, no milestones and no objectives that business folk could plan around themselves
16th Aug 21, 8:16am
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Roger J Kerr says the 'reconnecting to the world' plan announced last week had no targets, no milestones and no objectives that business folk could plan around themselves
Big falls in US 10-year and USD after shockingly low US consumer confidence. Thin markets likely exacerbating the moves. NZD back above 0.70 amidst weaker USD backdrop
16th Aug 21, 7:38am
Big falls in US 10-year and USD after shockingly low US consumer confidence. Thin markets likely exacerbating the moves. NZD back above 0.70 amidst weaker USD backdrop
US 10-year rate higher, reversing its post US-CPI fall. NZD underperforms, alongside AUD, to be back under 0.70. Second-tier NZ data yesterday reinforces case for RBNZ OCR hikes
13th Aug 21, 7:49am
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US 10-year rate higher, reversing its post US-CPI fall. NZD underperforms, alongside AUD, to be back under 0.70. Second-tier NZ data yesterday reinforces case for RBNZ OCR hikes
Market takes some comfort from latest US CPI report. USD and US 10-year yield fall, the latter aided by strong bond auction. NZD outperforms, up as high as 0.7060
12th Aug 21, 7:48am
Market takes some comfort from latest US CPI report. USD and US 10-year yield fall, the latter aided by strong bond auction. NZD outperforms, up as high as 0.7060
Little news, but risk sentiment improves overnight. US and European equity indices at fresh record highs, commodity currencies rebound - NZD back with 0.70 handle. US 10-year rate continues to grind higher
11th Aug 21, 7:44am
Little news, but risk sentiment improves overnight. US and European equity indices at fresh record highs, commodity currencies rebound - NZD back with 0.70 handle. US 10-year rate continues to grind higher
Commodity prices under pressure. NZD hangs in there around 0.70. US rates push higher; equities flat
10th Aug 21, 7:53am
Commodity prices under pressure. NZD hangs in there around 0.70. US rates push higher; equities flat
Roger J Kerr says the stronger US dollar he has consistently expected is now back on track
9th Aug 21, 8:30am
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Roger J Kerr says the stronger US dollar he has consistently expected is now back on track
US nonfarm payrolls stronger than expected on all fronts. US 10-year jumps to 1.30%, USD higher on potential for earlier Fed tapering. S&P500 edges to fresh record high, with reflation trade favourites making a comeback
9th Aug 21, 7:30am
US nonfarm payrolls stronger than expected on all fronts. US 10-year jumps to 1.30%, USD higher on potential for earlier Fed tapering. S&P500 edges to fresh record high, with reflation trade favourites making a comeback
Limited market moves as investors wait on payrolls tonight. Equities, bond yields and NZD all higher overnight. Bank of England suggests some "modest" tightening likely. NZ rates consolidate yesterday after their sharp increases post-HLFS
6th Aug 21, 7:49am
Limited market moves as investors wait on payrolls tonight. Equities, bond yields and NZD all higher overnight. Bank of England suggests some "modest" tightening likely. NZ rates consolidate yesterday after their sharp increases post-HLFS
US Treasuries whipsawed by mixed US data and upbeat comments from Fed vice-chair Clarida. NZ rates rise across the curve as the market banks on an earlier and more aggressive monetary tightening cycle
5th Aug 21, 7:54am
US Treasuries whipsawed by mixed US data and upbeat comments from Fed vice-chair Clarida. NZ rates rise across the curve as the market banks on an earlier and more aggressive monetary tightening cycle
RBNZ gives nod to potential August rate hike pushing up short rates higher and NZD well supported. RBA upbeat despite lockdowns, supporting AUD. Global equities push higher; UST10s range-bound
4th Aug 21, 7:53am
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RBNZ gives nod to potential August rate hike pushing up short rates higher and NZD well supported. RBA upbeat despite lockdowns, supporting AUD. Global equities push higher; UST10s range-bound
US 10-year rate tumbles to a low of just below 1.15% after slightly softer US ISM survey. AUD up ahead of RBA this afternoon; NZD flat. COVID19 spreads across nearly half of China's provinces
3rd Aug 21, 7:43am
US 10-year rate tumbles to a low of just below 1.15% after slightly softer US ISM survey. AUD up ahead of RBA this afternoon; NZD flat. COVID19 spreads across nearly half of China's provinces
Roger J Kerr says 'there is no question' global FX markets are differentiating between economies that are highly Covid-vaccinated and those that are not
2nd Aug 21, 8:40am
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Roger J Kerr says 'there is no question' global FX markets are differentiating between economies that are highly Covid-vaccinated and those that are not
Equities and bond yields lower, USD higher on Friday. Plenty of economic data but little impact on markets. AUD and NZD underperform last week with RBA expected to reverse tapering decision
2nd Aug 21, 7:36am
Equities and bond yields lower, USD higher on Friday. Plenty of economic data but little impact on markets. AUD and NZD underperform last week with RBA expected to reverse tapering decision
US Q2 GDP weaker than expected, but with strong consumption and investment. Equities and bond yields increase, USD continues to fall. NZD back above 0.70 with gains on all the key crosses
30th Jul 21, 7:56am
US Q2 GDP weaker than expected, but with strong consumption and investment. Equities and bond yields increase, USD continues to fall. NZD back above 0.70 with gains on all the key crosses
Fed tweaks policy Statement but unlikely to change market expectations of timing of tapering decision. Little market reaction; USD slightly weaker as Fed Chair Powell offers some dovish soundbites
29th Jul 21, 7:52am
Fed tweaks policy Statement but unlikely to change market expectations of timing of tapering decision. Little market reaction; USD slightly weaker as Fed Chair Powell offers some dovish soundbites