Bernard Hickey details the key news overnight in 90 seconds at 9 am in association with Bank of New Zealand, including news out on Friday night that US non-farm payrolls fell 95,000, which was worse than the 5,000 fall economists had expected.
The official US unemployment rate was steady at 9.6%, but the broader measure of unemployment, known at U-6, rose to 17.1% from 16.7%. Many of the job losses were in state government as they struggle with lower revenues and balanced budget provisions.
Most economists and market players now expect the US Federal Reserve to restart buying US Treasuries from November 3 in a second round of Quantitative Easing known as QEII. The Dow rose on the talk of QEII.
But this is causing huge tension on global currency markets. Those currencies pegged or linked to the US dollar are effectively having to print too, which is forcing others to defend their currencies. The Bank of Japan has already announced its own money printing programme and many expect the European Central Bank will also have to eventually print to keep up.
This is forcing currencies outside of the developed world to defend their currencies through interventions and capital controls. Ukraine and India announced over the weekend they planned to intervene to protect their currencies.
Meanwhile, back in New Zealand, South Canterbury Finance's receivers have put Mr Apple on the block for sale. The orchards operation owned by Scales Corp has 20 orchards in the Hawkes Bay and produces 20% of New Zealand's apple crop, BusinessDay reports.
Local buyers will struggle to afford to buy it whole, but it may either sell to an overseas buyer or have to be broken up.
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