Bernard Hickey details the key news over the weekend in 90 seconds at 9am in association with ASB, including the NZ dollar being firm over 66 USc despite signs that the US economic recession is easing, which should in theory boost the US dollar.
US GDP fell only 1%, which was less than expected, and there is strong demand for the 'cash for clunkers' scheme that gives discounts for new car buyers who hand in 'clunkers'.
Also, Ford's sales rose last month for the first time in 2 years. But the US dollar is still weak on heavy borrowing and money printing, which means our dollar is strong against the US dollar.
On Tuesday the Reserve Bank of Australia is expected to leave its OCR on hold with a tightening bias, which contrasts with NZ's tightening bias and means the NZ dollar is under pressure vs the Australian dollar. New Zealand's jobless rate due on Thursday is expected to rise to 5.6% from 5%.
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