Currencies
US Treasury yields higher, led by the long end of the curve. Sentiment on increased supply and BoJ's move last week probably not helping. GDT dairy auction poor
2nd Aug 23, 8:04am
US Treasury yields higher, led by the long end of the curve. Sentiment on increased supply and BoJ's move last week probably not helping. GDT dairy auction poor
US bond yields firmer, 10-yr through 4%, 2-yr nearing 5%, dollar stronger. JOLTS job openings falls to a 2+ year low, but US firms retain workers. RBA keeps the cash rate on hold for a second month but may not be done
2nd Aug 23, 7:52am
US bond yields firmer, 10-yr through 4%, 2-yr nearing 5%, dollar stronger. JOLTS job openings falls to a 2+ year low, but US firms retain workers. RBA keeps the cash rate on hold for a second month but may not be done
Chinese equities advanced with officials announcing more measures to support the construction sector and boost consumption. The Bank of Japan announced an unscheduled bond purchase operation to slow the move higher in JGB yields
1st Aug 23, 7:55am
Chinese equities advanced with officials announcing more measures to support the construction sector and boost consumption. The Bank of Japan announced an unscheduled bond purchase operation to slow the move higher in JGB yields
Bond yields fall as US core PCE surprises to the downside, falling from 4.6% to 4.1%. US equities bounce back following Thursday's BoJ induced declines
31st Jul 23, 9:44am
Bond yields fall as US core PCE surprises to the downside, falling from 4.6% to 4.1%. US equities bounce back following Thursday's BoJ induced declines
Roger J Kerr says the pattern of lower inflation/stronger employment data in the US that has caused the repeating up/down NZD/USD movements may finally be coming to an end
31st Jul 23, 8:15am
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Roger J Kerr says the pattern of lower inflation/stronger employment data in the US that has caused the repeating up/down NZD/USD movements may finally be coming to an end
Growing hopes that the US economy can achieve a soft landing where the US Federal Reserve gets inflation under control without triggering a recession. US data showed a cooling in inflation pressures
31st Jul 23, 7:41am
Growing hopes that the US economy can achieve a soft landing where the US Federal Reserve gets inflation under control without triggering a recession. US data showed a cooling in inflation pressures
How and why the so-called BRICS countries may develop a currency system independent of the US & what it might mean for NZ
29th Jul 23, 10:13am
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How and why the so-called BRICS countries may develop a currency system independent of the US & what it might mean for NZ
US GDP, weekly claims, durable goods, pending home sales deliver beats. Yields and the US dollar rebound. ECB delivers widely expected 25bps hike; Lagarde non-committal to more
28th Jul 23, 8:40am
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US GDP, weekly claims, durable goods, pending home sales deliver beats. Yields and the US dollar rebound. ECB delivers widely expected 25bps hike; Lagarde non-committal to more
Run of stronger than expected US economic activity data continues. ECB hikes, keeps options open for more. Reports BoJ will tweak of its yield curve control policy
28th Jul 23, 7:52am
Run of stronger than expected US economic activity data continues. ECB hikes, keeps options open for more. Reports BoJ will tweak of its yield curve control policy
Fed hikes 25bps, the same as the NZ OCR. Fed keeps options open, maintains slight tightening bias. US rates and USD down modestly after Fed Chair spoke
27th Jul 23, 7:41am
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Fed hikes 25bps, the same as the NZ OCR. Fed keeps options open, maintains slight tightening bias. US rates and USD down modestly after Fed Chair spoke
Improved sentiment on China supports risk assets. EUR weaker on soft ECB bank lending survey. US equities continue to rally. Consumer confidence up to 2-year high; Treasury yields push higher ahead of Fed meeting early tomorrow
26th Jul 23, 7:43am
Improved sentiment on China supports risk assets. EUR weaker on soft ECB bank lending survey. US equities continue to rally. Consumer confidence up to 2-year high; Treasury yields push higher ahead of Fed meeting early tomorrow
PMIs continue trend of cooling activity in manufacturing & service sectors. Tight snap Spanish election result weighs on EUR
25th Jul 23, 7:56am
PMIs continue trend of cooling activity in manufacturing & service sectors. Tight snap Spanish election result weighs on EUR
Weak purchasing manager surveys in the US and Europe raise concerns about the strength of the global economy. Expectations of large-scale Chinese stimulus being pared back
25th Jul 23, 7:42am
Weak purchasing manager surveys in the US and Europe raise concerns about the strength of the global economy. Expectations of large-scale Chinese stimulus being pared back
Roger J Kerr says repatriation of NZ bank profits to Aussie parents is the likely cause of the latest NZ dollar selling
24th Jul 23, 8:28am
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Roger J Kerr says repatriation of NZ bank profits to Aussie parents is the likely cause of the latest NZ dollar selling
US dollar defies popular opinion, ends the week stronger vs all majors. US equities reach higher, S&P500 now within 5% of all-time highs
24th Jul 23, 8:03am
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US dollar defies popular opinion, ends the week stronger vs all majors. US equities reach higher, S&P500 now within 5% of all-time highs
Investors look ahead to central bank policy decisions from the Federal Reserve, European Central Bank and Bank of Japan this week. Japan CPI higher than expected
24th Jul 23, 7:24am
Investors look ahead to central bank policy decisions from the Federal Reserve, European Central Bank and Bank of Japan this week. Japan CPI higher than expected
Tesla & Netflix earnings misses fuel tech stock sell-off ... more to come? US weekly jobless claims fall to 2-month low, increasing odds of more Fed hikes
21st Jul 23, 8:07am
Tesla & Netflix earnings misses fuel tech stock sell-off ... more to come? US weekly jobless claims fall to 2-month low, increasing odds of more Fed hikes
NZD and AUD dragged higher by PBoC moves, but broad USD strength overnight then pulls them back down
US Treasury yields higher as labour market data remain remain too strong for comfort. Global forces and post-CPI afterglow drive NZ rates higher. Strong Australian employment report keeps prospect of further RBA tightening alive
21st Jul 23, 7:53am
US Treasury yields higher as labour market data remain remain too strong for comfort. Global forces and post-CPI afterglow drive NZ rates higher. Strong Australian employment report keeps prospect of further RBA tightening alive
Upbeat earnings from major US banks drive US stocks to fresh 15-mth highs, yields mixed, WTI crude up, gold up, dollar mixed. RBA minutes acknowledge additional tightening may be required
19th Jul 23, 7:59am
Upbeat earnings from major US banks drive US stocks to fresh 15-mth highs, yields mixed, WTI crude up, gold up, dollar mixed. RBA minutes acknowledge additional tightening may be required
Lower European rates support US Treasuries. US retail sales report mixed. ECB's usually hawkish Knot hoses down rate hike expectations beyond next week's meeting. German rates fall 10-13bps
19th Jul 23, 7:49am
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Lower European rates support US Treasuries. US retail sales report mixed. ECB's usually hawkish Knot hoses down rate hike expectations beyond next week's meeting. German rates fall 10-13bps
Weaker than expected China activity data drive weaker yuan, spilling over into weaker NZD and AUD. Global rates push lower, NZ rates play catch-up
18th Jul 23, 7:42am
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Weaker than expected China activity data drive weaker yuan, spilling over into weaker NZD and AUD. Global rates push lower, NZ rates play catch-up
NZD retreats from 4-mth highs following mammoth 2-day rally. Disinflation trade the order of play following downside CPI and PPI misses
17th Jul 23, 9:29am
NZD retreats from 4-mth highs following mammoth 2-day rally. Disinflation trade the order of play following downside CPI and PPI misses
Roger J Kerr says his expectation that US inflation would decrease quickly has transpired into reality, with the inevitable USD sell-off allowing the NZD/USD exchange rate to make the gains he has been expecting and forecasting
17th Jul 23, 9:00am
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Roger J Kerr says his expectation that US inflation would decrease quickly has transpired into reality, with the inevitable USD sell-off allowing the NZD/USD exchange rate to make the gains he has been expecting and forecasting
‘Soft-landing’ narrative for the US economy gaining momentum amid signs of cooling inflation. US consumer sentiment index easily beat expectations. US treasury yields rebounded. The US Dollar got support from higher US treasury yields
17th Jul 23, 7:35am
‘Soft-landing’ narrative for the US economy gaining momentum amid signs of cooling inflation. US consumer sentiment index easily beat expectations. US treasury yields rebounded. The US Dollar got support from higher US treasury yields
US CPI surprises to the downside, core inflation falls to 20-mth low below 5%. RBNZ delivers as expected. Risk assets rip higher on the narrative the Fed may be done after its July hike
13th Jul 23, 8:03am
US CPI surprises to the downside, core inflation falls to 20-mth low below 5%. RBNZ delivers as expected. Risk assets rip higher on the narrative the Fed may be done after its July hike
