Currencies

US and European equities recover after Trump dials down aggression at Davos, ruling out military force to acquire Greenland. US Treasury yields range-bound; some order restored to Japan’s bond market after the recent meltdown

US and European equities recover after Trump dials down aggression at Davos, ruling out military force to acquire Greenland. US Treasury yields range-bound; some order restored to Japan’s bond market after the recent meltdown

Weaker risk sentiment on US-EU political tensions; global equities extend losses; US equities down sharply. No safe-haven bid for bonds; Meltdown in Japan's JGB market spills over into other markets. UST yields push higher

Weaker risk sentiment on US-EU political tensions; global equities extend losses; US equities down sharply. No safe-haven bid for bonds; Meltdown in Japan's JGB market spills over into other markets. UST yields push higher

Market reaction modest, so far, to Trump's weekend threats. USD broadly weaker although JPY also weak as new election in Japan confirmed. Equities retreat

Market reaction modest, so far, to Trump's weekend threats. USD broadly weaker although JPY also weak as new election in Japan confirmed. Equities retreat

Roger J Kerr says Governor Breman may be forced to eat her own words that the interest rate markets have become ahead of themselves in pricing-in interest rate increases later in 2026

Roger J Kerr says Governor Breman may be forced to eat her own words that the interest rate markets have become ahead of themselves in pricing-in interest rate increases later in 2026

US treasury yields rose after Trump comments on chance of Kevin Hassett becoming the next Federal Reserve Chair. Trump to impose 10% tariffs on European countries until they support his ambition to acquire Greenland

US treasury yields rose after Trump comments on chance of Kevin Hassett becoming the next Federal Reserve Chair. Trump to impose 10% tariffs on European countries until they support his ambition to acquire Greenland

US equity markets rebound. A decline in US jobless claims underpinned the US dollar against European currencies. Oil prices sharply lower after an apparent easing in US-Iran tensions

US equity markets rebound. A decline in US jobless claims underpinned the US dollar against European currencies. Oil prices sharply lower after an apparent easing in US-Iran tensions

Rising geopolitical tensions hit risk sentiment and weigh on US equities. Limited market rection to US retail sales and PPI data. Oil prices extend recent gain. Metals continue winning streak

Rising geopolitical tensions hit risk sentiment and weigh on US equities. Limited market rection to US retail sales and PPI data. Oil prices extend recent gain. Metals continue winning streak

US core CPI undershoots expectations for the second consecutive month. Oil prices gain 3% and approach two-month highs. US dollar recovers from the decline earlier in the week

US core CPI undershoots expectations for the second consecutive month. Oil prices gain 3% and approach two-month highs. US dollar recovers from the decline earlier in the week

Fed Chair Powell reveals Justice Department criminal threats raising concerns over central bank independence. Precious metals reach record highs. US dollar weaker against G10 currencies. NZD outperforms

Fed Chair Powell reveals Justice Department criminal threats raising concerns over central bank independence. Precious metals reach record highs. US dollar weaker against G10 currencies. NZD outperforms

Roger J Kerr is watching US jobs deteriorate rapidly – and the FX markets are slow to work it out

Roger J Kerr is watching US jobs deteriorate rapidly – and the FX markets are slow to work it out

Roger J Kerr sees more confidence around getting a resurging NZ economy in 2026. But overhanging that will be US jobs data that will set the tone for Fed interest rate decisions

Roger J Kerr sees more confidence around getting a resurging NZ economy in 2026. But overhanging that will be US jobs data that will set the tone for Fed interest rate decisions

Silvia Sgherri thinks the US needs to help build an open, interoperable, standards-based monetary order for the 21st century

Silvia Sgherri thinks the US needs to help build an open, interoperable, standards-based monetary order for the 21st century

The IMF's Chart of the Week visuals illustrate major developments during a year of uncertainty - and resilience

The IMF's Chart of the Week visuals illustrate major developments during a year of uncertainty - and resilience

Roger J Kerr looks ahead seeing the US cutting interest rates when most other countries are either increasing or holding. US dollar depreciation appears likely given mediocre US economic performance and Trump policy uncertainties

Roger J Kerr looks ahead seeing the US cutting interest rates when most other countries are either increasing or holding. US dollar depreciation appears likely given mediocre US economic performance and Trump policy uncertainties

Soft US CPI data contributed to a solid rally for equity markets and lower treasury yields. ECB held rates steady and upgraded growth and inflation forecasts. BofE made a cautious cut

Soft US CPI data contributed to a solid rally for equity markets and lower treasury yields. ECB held rates steady and upgraded growth and inflation forecasts. BofE made a cautious cut