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Yen

US CPI inflation cracks 5% mark and ECB policy update on the dovish side of expectations. Market prepared to back Fed's view that inflation will prove transitory, so Treasury yields drift lower
11th Jun 21, 7:53am
US CPI inflation cracks 5% mark and ECB policy update on the dovish side of expectations. Market prepared to back Fed's view that inflation will prove transitory, so Treasury yields drift lower
US 10-year rate breaks the bottom of the range - now 1.49%. Little movement in equities or currencies ahead of US CPI, ECB tonight. NZD underperforms again - back below 0.72
10th Jun 21, 7:48am
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US 10-year rate breaks the bottom of the range - now 1.49%. Little movement in equities or currencies ahead of US CPI, ECB tonight. NZD underperforms again - back below 0.72
Equities flat but US 10-year rate heads to bottom of the range, ahead of key US CPI data tomorrow night. NZD back below 0.72; NZD/AUD sub-0.93. NZ rates lower, playing catch-up after long weekend
9th Jun 21, 7:54am
Equities flat but US 10-year rate heads to bottom of the range, ahead of key US CPI data tomorrow night. NZD back below 0.72; NZD/AUD sub-0.93. NZ rates lower, playing catch-up after long weekend
US nonfarm payrolls seen as a 'goldilocks' outcome - strong enough to suggest recovery on track but not too strong to trigger an imminent Fed tapering decision. Equity markets move higher, bond yields and USD lower. RBNZ reduces bond buying pace this week
8th Jun 21, 7:50am
US nonfarm payrolls seen as a 'goldilocks' outcome - strong enough to suggest recovery on track but not too strong to trigger an imminent Fed tapering decision. Equity markets move higher, bond yields and USD lower. RBNZ reduces bond buying pace this week
Firm US economic data sees higher rates and stronger USD. Equities down but pare losses. Nonfarm payrolls the focus tonight, with the market seeing this as key to Fed tapering discussions
4th Jun 21, 7:56am
Firm US economic data sees higher rates and stronger USD. Equities down but pare losses. Nonfarm payrolls the focus tonight, with the market seeing this as key to Fed tapering discussions
Equities, bond and currency moves muted as market waits on payrolls. NZD underperforms over the past 24 hours. More RBNZ-speak yesterday, with the message that rates will eventually need to rise
3rd Jun 21, 7:51am
Equities, bond and currency moves muted as market waits on payrolls. NZD underperforms over the past 24 hours. More RBNZ-speak yesterday, with the message that rates will eventually need to rise
Mostly strong data, but US ISM employment component soft ahead of key employment data on Friday. US equities flat and US 10-year trades a tight range. Domestic rates continue to push lower, reversing initial post-MPS move
2nd Jun 21, 7:51am
Mostly strong data, but US ISM employment component soft ahead of key employment data on Friday. US equities flat and US 10-year trades a tight range. Domestic rates continue to push lower, reversing initial post-MPS move
US and UK on holiday; a fittingly dull end to a dull month. PBoC signals some discomfort with pace of CNY strength. NZD and AUD push higher against the backdrop of weaker USD
1st Jun 21, 7:43am
US and UK on holiday; a fittingly dull end to a dull month. PBoC signals some discomfort with pace of CNY strength. NZD and AUD push higher against the backdrop of weaker USD
A quiet end to last week ahead of the US holiday today. Another positive US inflation surprise but US 10-year yield drifts lower. NZD and AUD sluggish against backdrop of higher risk appetite and CNY strength
31st May 21, 7:38am
A quiet end to last week ahead of the US holiday today. Another positive US inflation surprise but US 10-year yield drifts lower. NZD and AUD sluggish against backdrop of higher risk appetite and CNY strength
Bond yields rebound (US 10-year back above 1.60%), equities little moved. NZD still trading around 0.73, NZD/AUD nudges up to a four-month high. NZ 5-year swap rate jumps another 8bps as market digests the RBNZ MPS
28th May 21, 7:51am
Bond yields rebound (US 10-year back above 1.60%), equities little moved. NZD still trading around 0.73, NZD/AUD nudges up to a four-month high. NZ 5-year swap rate jumps another 8bps as market digests the RBNZ MPS
RBNZ MPS a market-mover as the Bank signals rate hikes from next year. Stronger USD overnight sees NZD lose some of its post-MPS gains, now back below 0.73. NZ rates much higher, with the 5-year rate up the furthest
27th May 21, 7:50am
RBNZ MPS a market-mover as the Bank signals rate hikes from next year. Stronger USD overnight sees NZD lose some of its post-MPS gains, now back below 0.73. NZ rates much higher, with the 5-year rate up the furthest
Flat equity markets, UST10 yields push down to lower end of recent trading range. Currencies largely track sideways, although USD/CNY approaches key 6.40 level. RBNZ MPS today could be a market mover
26th May 21, 7:49am
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Flat equity markets, UST10 yields push down to lower end of recent trading range. Currencies largely track sideways, although USD/CNY approaches key 6.40 level. RBNZ MPS today could be a market mover
Little news but risk appetite improves from the US market open, seemingly less concerned about the inflation outlook, at least for today. NZD back above 0.72. RBNZ MPS in sight. UST10s go sub-1.60%
25th May 21, 7:50am
Little news but risk appetite improves from the US market open, seemingly less concerned about the inflation outlook, at least for today. NZD back above 0.72. RBNZ MPS in sight. UST10s go sub-1.60%
Little movement in markets on Friday night; markets look through upbeat PMIs in Europe and the US. EUR falls after Lagarde seems to push back against ECB tapering. RBNZ MPS the highlight this week
24th May 21, 7:36am
Little movement in markets on Friday night; markets look through upbeat PMIs in Europe and the US. EUR falls after Lagarde seems to push back against ECB tapering. RBNZ MPS the highlight this week
Market sentiment recovers from the tapering talk in the Fed minutes. Equities bounce back, USD and bond yields lower. NZ Government announces expansionary Budget yesterday
21st May 21, 7:50am
Market sentiment recovers from the tapering talk in the Fed minutes. Equities bounce back, USD and bond yields lower. NZ Government announces expansionary Budget yesterday
Fed minutes show "a number" of members think tapering discussion might be appropriate pushing US rates and the USD higher. Commodity prices fall, seeing NZD decline over 1%. Bitcoin has a meltdown, before recovering. Eyes on NZ Budget
20th May 21, 7:52am
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Fed minutes show "a number" of members think tapering discussion might be appropriate pushing US rates and the USD higher. Commodity prices fall, seeing NZD decline over 1%. Bitcoin has a meltdown, before recovering. Eyes on NZ Budget
Bond markets tread water; US equities show modest falls. USD broadly weaker, NZD back up to 0.7250, AUD through 0.78. NZ 2-year swap rate closes at fresh high for the year, ahead of RBNZ MPS next week
19th May 21, 8:10am
Bond markets tread water; US equities show modest falls. USD broadly weaker, NZD back up to 0.7250, AUD through 0.78. NZ 2-year swap rate closes at fresh high for the year, ahead of RBNZ MPS next week
New week sees risk appetite weaken. NZD underperforms, even as global commodity prices push higher. Fed speakers run the party line on no changes to the policy outlook
18th May 21, 7:44am
New week sees risk appetite weaken. NZD underperforms, even as global commodity prices push higher. Fed speakers run the party line on no changes to the policy outlook
Some softer US activity data, but risk appetite ends the week on a stronger note. More soothing words from the Fed. Broad USD weakness; NZD gains 1% Friday night to 0.7250. UST10 yields drift lower
17th May 21, 7:52am
Some softer US activity data, but risk appetite ends the week on a stronger note. More soothing words from the Fed. Broad USD weakness; NZD gains 1% Friday night to 0.7250. UST10 yields drift lower
US equity markets recover. US 10-year rate moves back to 1.66%. Fed officials continue to claim current inflation pressures will be temporary. NZ 10-year swap rate breaks above 2% for the first time since March
14th May 21, 8:02am
US equity markets recover. US 10-year rate moves back to 1.66%. Fed officials continue to claim current inflation pressures will be temporary. NZ 10-year swap rate breaks above 2% for the first time since March
Game over...or is it? US CPI inflation an absolute shocker. Vice chair Clarida still runs the party line "it's transitory". US equities tumble, US 10-year rate pushes up to 1.69%. Risk-off move sees USD strength
13th May 21, 8:00am
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Game over...or is it? US CPI inflation an absolute shocker. Vice chair Clarida still runs the party line "it's transitory". US equities tumble, US 10-year rate pushes up to 1.69%. Risk-off move sees USD strength
US equities fall again, but this time not led by tech sector. US 10-year rate drifts higher. Only modest currency moves; NZD and AUD track sideways. More spending in Australian Budget
12th May 21, 7:46am
US equities fall again, but this time not led by tech sector. US 10-year rate drifts higher. Only modest currency moves; NZD and AUD track sideways. More spending in Australian Budget
Inflation expectations continue to rise, US 10y BEIs up to a fresh 8-year high; industrial commodity prices stretch higher. Further rotation out of tech stocks into "value". GBP gains over 1% post Scottish elections
11th May 21, 7:37am
Inflation expectations continue to rise, US 10y BEIs up to a fresh 8-year high; industrial commodity prices stretch higher. Further rotation out of tech stocks into "value". GBP gains over 1% post Scottish elections
Payrolls much weaker than expected fuelling expectations the Fed will stick to its ultra-accommodative stance. Commodity prices continue to surge - copper hits record high. US 10-year breakeven inflation breaks above 2.5
10th May 21, 7:45am
Payrolls much weaker than expected fuelling expectations the Fed will stick to its ultra-accommodative stance. Commodity prices continue to surge - copper hits record high. US 10-year breakeven inflation breaks above 2.5
Equity and bond markets quiet ahead of payrolls tonight. Commodity prices remain strong; iron ore spot price trades above $200. USD weaker overnight. AUD and NZD recover overnight from yesterday's mid-afternoon sell-of
7th May 21, 7:57am
Equity and bond markets quiet ahead of payrolls tonight. Commodity prices remain strong; iron ore spot price trades above $200. USD weaker overnight. AUD and NZD recover overnight from yesterday's mid-afternoon sell-of