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Here's our summary of key events overnight that affect New Zealand, with news of dull economic data and worrying political moves that undermine democracy.
Equity markets are treading water worldwide.
American existing home sales were soft in September, falling -2.2% from August and undershooting most analyst expectations. But they were up +3.9% from a year ago.
The next regional Fed survey of manufacturers, this one from the mid-Atlantic states by the Richmond Fed reports a pickup in activity, and by more than expected. However, most of this just makes back the rather sharp falls in September.
The Canadian election has returned the Liberal incumbent, although into a minority government situation. But just like its neighbour to the south, this result is marred by not mirroring the popular vote.
In the trade war skirmishes, the China is using tariff waivers to manipulate US election campaign sentiment. It has granted them to Chinese buyers allowing them to buy huge amounts of soybeans. It seems they have concluded, like Russia, keeping the current US president in office is a goal, a gift that keeps on giving for China's influence internationally.
And China is extending its surveillance reach internationally, through iPhone and Android hacks that allow it to monitor anyone now.
In the UK, there are important Brexit votes imminent in their Parliament. We will update this item when definitive results are available. Meanwhile the political threats and brinkmanship continue. Update 1: The London Parliament blocks Johnson again.
In Australia, major home loan lender Westpac has reduced its deposit requirements for residential investor lending from 20% to 10% even for interest-only loans. It is a significant initiative to win a greater market share in this segment.
The UST 10yr yield is holding higher, although down a tick from yesterday at 1.79%. Their 2-10 curve is positive at +18 bps. Their negative 1-5 curve is back positive at +3 bps. Their 3m-10yr curve has is also now positive at +4 bps. The Aussie Govt 10yr is lower at 1.14%, a fall of -3 bps. The China Govt 10yr is now at 3.25%, a +2 bps rise. The NZ Govt 10 yr is now at 1.34%, up +4 bps since this time yesterday.
Gold is unchanged overnight to US$1,484/oz.
US oil prices are firmer today, now just over US$54/bbl. The Brent benchmark is just over US$59.50.
The Kiwi dollar is firm against the greenback today, now at 64.1 USc although a small slip from where we left it yesterday afternoon. On the cross rates we are firm at 93.4 AUc. Against the euro we are at 57.6 euro cents. That puts the TWI-5 up at 69.
Bitcoin is now at US$8,216 and marginally firmer overnight. The bitcoin rate is charted in the exchange rate set below.
The easiest place to stay up with event risk today is by following our Economic Calendar here ».