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Currencies

S&P500 lower, USD stronger on Friday as risk appetite remains cautious ahead of Fed meeting this week. NZ 2-year swap rate hits 1.50%, its highest level since mid-2019
20th Sep 21, 8:03am
S&P500 lower, USD stronger on Friday as risk appetite remains cautious ahead of Fed meeting this week. NZ 2-year swap rate hits 1.50%, its highest level since mid-2019
Stronger than expected US retail sales report supports higher US rates and USD backdrop. This strength sidelines massive NZ Q2 GDP report. NZD/AUD settles around 0.97
17th Sep 21, 8:16am
Stronger than expected US retail sales report supports higher US rates and USD backdrop. This strength sidelines massive NZ Q2 GDP report. NZD/AUD settles around 0.97
US equities stronger against the grain of other markets. UK and Canadian inflation surprises alongside higher energy prices drive global rates higher. Negative newsflow out of China keeps on coming
16th Sep 21, 7:48am
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US equities stronger against the grain of other markets. UK and Canadian inflation surprises alongside higher energy prices drive global rates higher. Negative newsflow out of China keeps on coming
US CPI slightly lower than expected. Equity markets down again, safe havens outperform in the FX market. RBA pushes back against rate hike pricing
15th Sep 21, 7:44am
US CPI slightly lower than expected. Equity markets down again, safe havens outperform in the FX market. RBA pushes back against rate hike pricing
Commodity prices push higher. NZD flat around 0.71; Business confidence resilient during current lockdown
14th Sep 21, 7:44am
Commodity prices push higher. NZD flat around 0.71; Business confidence resilient during current lockdown
Reports Biden considering a new investigation of Chinese state subsides will set the equity market tone this week. Global rates rebound, helped by higher commodity prices
13th Sep 21, 7:25am
Reports Biden considering a new investigation of Chinese state subsides will set the equity market tone this week. Global rates rebound, helped by higher commodity prices
ECB confirms reduced QE bond buying pace in Q4, a "recalibration", not a "tapering". Equity markets flat-to-slightly lower. Market pricing a small chance of a 50bp OCR hike at the RBNZ's October meeting
10th Sep 21, 7:48am
ECB confirms reduced QE bond buying pace in Q4, a "recalibration", not a "tapering". Equity markets flat-to-slightly lower. Market pricing a small chance of a 50bp OCR hike at the RBNZ's October meeting
Cautious tone continues, equities push lower. US 10-year rate reverses course. Small moves in currencies
9th Sep 21, 8:01am
Cautious tone continues, equities push lower. US 10-year rate reverses course. Small moves in currencies
Mild risk off sees lower equity markets and stronger USD overnight. Global rates push higher in a week with increased supply. RBA does a dovish taper
8th Sep 21, 7:52am
Mild risk off sees lower equity markets and stronger USD overnight. Global rates push higher in a week with increased supply. RBA does a dovish taper
Global equity markets remain on record-breaking run. NZ swap rates up to highest levels in more than two years, supported by conviction in RBNZ rate hike cycle
7th Sep 21, 7:47am
Global equity markets remain on record-breaking run. NZ swap rates up to highest levels in more than two years, supported by conviction in RBNZ rate hike cycle
Big downside miss on US payrolls but wage growth stronger than expected. No tapering signal until at least November. US curve steepens, USD falls, equities little changed
6th Sep 21, 8:20am
Big downside miss on US payrolls but wage growth stronger than expected. No tapering signal until at least November. US curve steepens, USD falls, equities little changed
USD falls to a one-month low, now down 1% since Powell's Jackson Hole speech. NZ 10-year bond spread to Australia reaches fresh 5½ year high
3rd Sep 21, 7:47am
USD falls to a one-month low, now down 1% since Powell's Jackson Hole speech. NZ 10-year bond spread to Australia reaches fresh 5½ year high
US labour market indicators on the soft side ahead of Friday's key non-farm payrolls report. US rates and USD lower on that. NZ and AU long bond rate rates jump higher yesterday
2nd Sep 21, 7:46am
US labour market indicators on the soft side ahead of Friday's key non-farm payrolls report. US rates and USD lower on that. NZ and AU long bond rate rates jump higher yesterday
Plethora of global data releases show weaker activity and higher inflation. Global rates push higher on higher euro area inflation and nerves ahead of ECB next week
1st Sep 21, 7:52am
Plethora of global data releases show weaker activity and higher inflation. Global rates push higher on higher euro area inflation and nerves ahead of ECB next week
Some post-Powell speech follow-through, with US equities higher and US rates lower. Currency markets muted. Full economic calendar in the day ahead
31st Aug 21, 7:47am
Some post-Powell speech follow-through, with US equities higher and US rates lower. Currency markets muted. Full economic calendar in the day ahead
Powell's Jackson Hole speech confirms tapering soon. Equities higher, bond yields and USD lower. Eyes now on US non-farm payrolls
30th Aug 21, 7:50am
Powell's Jackson Hole speech confirms tapering soon. Equities higher, bond yields and USD lower. Eyes now on US non-farm payrolls
Suicide bombings outside Kabul airport see risk appetite turn more cautious. Equity markets fall, albeit off the intraday lows. USD stronger with commodity currencies underperforming
27th Aug 21, 7:45am
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Suicide bombings outside Kabul airport see risk appetite turn more cautious. Equity markets fall, albeit off the intraday lows. USD stronger with commodity currencies underperforming
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
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