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Currencies

Roger J Kerr says just why New Zealand would be taking up such an aggressive foreign policy stance against our largest export/import trading partner, China, beggars belief
4th Jul 22, 8:29am
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Roger J Kerr says just why New Zealand would be taking up such an aggressive foreign policy stance against our largest export/import trading partner, China, beggars belief
US PMI surveys weaker than expected; new orders falls into contractionary territory. Industrial commodities fall on demand fears - copper now 25% off its highs. NZ rates fall further, with the market paring back its expectation for the OCR to below 4%
4th Jul 22, 7:33am
US PMI surveys weaker than expected; new orders falls into contractionary territory. Industrial commodities fall on demand fears - copper now 25% off its highs. NZ rates fall further, with the market paring back its expectation for the OCR to below 4%
Weak US spending data could mean their economy was in recession in first half of 2022; PCE deflators also softer than expected. Global rates show big falls; Germany 2-year rate down 20bps; US Treasuries 5-year down 14bps
1st Jul 22, 7:55am
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Weak US spending data could mean their economy was in recession in first half of 2022; PCE deflators also softer than expected. Global rates show big falls; Germany 2-year rate down 20bps; US Treasuries 5-year down 14bps
Global yields decline, led by Europe, post ECB forum. German annual inflation eases, Spain hits 10%. US dollar firmer; EUR, commodity currencies underperform
30th Jun 22, 7:55am
Global yields decline, led by Europe, post ECB forum. German annual inflation eases, Spain hits 10%. US dollar firmer; EUR, commodity currencies underperform
Weaker US consumer confidence rocks US equities. US Treasury yields little changed. European rates higher on tough talking ECB
29th Jun 22, 7:57am
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Weaker US consumer confidence rocks US equities. US Treasury yields little changed. European rates higher on tough talking ECB
Stephen Roach revisits his 2020 prediction of a dollar crash and explains why he got it perfectly wrong
28th Jun 22, 10:03am
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Stephen Roach revisits his 2020 prediction of a dollar crash and explains why he got it perfectly wrong
Global rates reverse course and head higher again; UST yields up 6-8bps. NZ rates fall playing catch-up to global moves at the end of last week
28th Jun 22, 7:56am
Global rates reverse course and head higher again; UST yields up 6-8bps. NZ rates fall playing catch-up to global moves at the end of last week
Roger J Kerr says some cracks are starting to appear in the 'mighty US dollar' story
27th Jun 22, 8:31am
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Roger J Kerr says some cracks are starting to appear in the 'mighty US dollar' story
Risk sentiment improves with less policy tightening priced into curves; S&P500 up over 3% on Friday. Data on PMIs and US inflation expectations drive global rates lower; NZ rates market to play catch-up after Friday holiday
27th Jun 22, 7:50am
Risk sentiment improves with less policy tightening priced into curves; S&P500 up over 3% on Friday. Data on PMIs and US inflation expectations drive global rates lower; NZ rates market to play catch-up after Friday holiday
Risk appetite appears weaker on increasing global recession fears. Chunky falls in global rates, commodities broadly weaker and NZD and AUD underperform
23rd Jun 22, 7:52am
Risk appetite appears weaker on increasing global recession fears. Chunky falls in global rates, commodities broadly weaker and NZD and AUD underperform
Strong bounce-back in US equities after the US public holiday, with S&P 500 up 2.5%; global rates push higher
22nd Jun 22, 7:59am
Strong bounce-back in US equities after the US public holiday, with S&P 500 up 2.5%; global rates push higher
The central banks' bank puts the boot into the beleaguered cryptocurrency industry and talks up the role of central banks in the future of the monetary system
22nd Jun 22, 5:00am
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The central banks' bank puts the boot into the beleaguered cryptocurrency industry and talks up the role of central banks in the future of the monetary system
Risk appetite slightly higher, with global equities and rates higher. Bullard sees inflation fight winnable without recession. Quiet trading in financial markets with the US public holiday
21st Jun 22, 7:50am
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Risk appetite slightly higher, with global equities and rates higher. Bullard sees inflation fight winnable without recession. Quiet trading in financial markets with the US public holiday
Roger J Kerr says the Fed appear to be unbelievably slow in reading the lead indicators for the US economy
20th Jun 22, 8:26am
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Roger J Kerr says the Fed appear to be unbelievably slow in reading the lead indicators for the US economy
Modest changes in US equities and USTs on Friday, but caps off a wild week in markets. Oil prices tumble 5-7%, commodities market generally weaker in the face of rising global recession risk. AUD under pressure
20th Jun 22, 7:52am
Modest changes in US equities and USTs on Friday, but caps off a wild week in markets. Oil prices tumble 5-7%, commodities market generally weaker in the face of rising global recession risk. AUD under pressure
Surprise 50bps hike by the Swiss National Bank. US economic dataflow much weaker than expected. USD tumbles as recession fears trump safe-haven bid, amid chunky falls in equity markets
17th Jun 22, 7:57am
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Surprise 50bps hike by the Swiss National Bank. US economic dataflow much weaker than expected. USD tumbles as recession fears trump safe-haven bid, amid chunky falls in equity markets
Fed hikes 75bps, at least 150bps more hikes projected in 2022. But not as hawkish as it might have been. ECB emergency meeting promises new instrument
16th Jun 22, 8:02am
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Fed hikes 75bps, at least 150bps more hikes projected in 2022. But not as hawkish as it might have been. ECB emergency meeting promises new instrument
Market prices in more aggressive Fed tightening, 75bps this week and a likely follow-up move next month. US Treasury yields continue rise across the curve; 10-year rate approaching 3.5%
15th Jun 22, 7:59am
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Market prices in more aggressive Fed tightening, 75bps this week and a likely follow-up move next month. US Treasury yields continue rise across the curve; 10-year rate approaching 3.5%
Markets in turmoil; US equities down 3%; USTs up about 20bps across the curve. As inflation fears increase and market prices in much more aggressive tightening. UK has recession on its doorstep and possible trade war with EU
14th Jun 22, 8:07am
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Markets in turmoil; US equities down 3%; USTs up about 20bps across the curve. As inflation fears increase and market prices in much more aggressive tightening. UK has recession on its doorstep and possible trade war with EU
Roger J Kerr says the expected 'V' shaped recovery in the NZD/USD rate to 0.6800 has had a set-back with this latest US inflation result
13th Jun 22, 8:27am
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Roger J Kerr says the expected 'V' shaped recovery in the NZD/USD rate to 0.6800 has had a set-back with this latest US inflation result
Strong US CPI inflation data destroys the inflation-has-peaked narrative. Stagflation in focus as US consumer sentiment falls to a record low as well and long-term inflation expectations rise
13th Jun 22, 7:31am
Strong US CPI inflation data destroys the inflation-has-peaked narrative. Stagflation in focus as US consumer sentiment falls to a record low as well and long-term inflation expectations rise
ECB offers a hawkish policy update; guides a 25bps hike in July and 50bps in September. Commodity currencies whacked on weaker risk sentiment. NZ 10 year NZGB closes at a 7-year high
10th Jun 22, 7:57am
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ECB offers a hawkish policy update; guides a 25bps hike in July and 50bps in September. Commodity currencies whacked on weaker risk sentiment. NZ 10 year NZGB closes at a 7-year high
OECD cuts global growth forecasts. Higher oil prices add to inflation worries. Equities retreat. USD/JPY blasts through 134. Global rates higher; US 10s above 3%
9th Jun 22, 7:56am
OECD cuts global growth forecasts. Higher oil prices add to inflation worries. Equities retreat. USD/JPY blasts through 134. Global rates higher; US 10s above 3%
RBA raises cash rate by a larger-than-expected 50bps. Short-term Aussie rates blast higher while NZD/AUD cross falls below 90 AUc
8th Jun 22, 7:58am
RBA raises cash rate by a larger-than-expected 50bps. Short-term Aussie rates blast higher while NZD/AUD cross falls below 90 AUc
Global rates push sharply higher once again - US 10-year back above 3%, German 10-year hits fresh 8-year high. Nonfarm payrolls report seen as confirming Fed's hawkish stance
7th Jun 22, 7:54am
Global rates push sharply higher once again - US 10-year back above 3%, German 10-year hits fresh 8-year high. Nonfarm payrolls report seen as confirming Fed's hawkish stance