Here's my summary of the key issues from overnight that affect New Zealand, with news of massive fund flows heading our way.
But first, the American housing market is showing signs of renewed vigour. They surged to their highest level in 18 months in March and above expectations as more homes came on the market, and a sign of strength in their housing ahead of their spring selling season.
American mortgage applications also rose more than expected as week last week.
Japan has posted its first trade surplus in three years in data out overnight. This was helped by lower prices for imported oil and stronger exports to the United States in March, and were encouraging signs for the Japanese economy.
In China, and hard on the heels of the important reserve ratio cut and the call for banks to lend more and roll over loans, their State Council has brought in new measures to add jobs to ease the growing employment pressures.
Also from China, they published a list of their 100 'most wanted' economic fugitives yesterday - and that list said eleven of them were likely to be in New Zealand.
In Australia, gigantic international fund manager Blackrock has said the RBA is likely to cut its policy rate by much further to 1.25%. They are experiencing an "absolutely massive" flow of funds from Japan and Europe to Australia seeking yield. That and the fast-stalling resources sector is behind their reasoning for the expected rate cuts. No doubt some of that 'massive' flow is spilling over to New Zealand.
The UST 10yr benchmark yield is again higher today at 1.96%.
The US oil price has remains at about US$56/barrel, while Brent crude is at US$63/barrel in trading earlier today. But oil markets are unsettled as the latest data shows US crude stocks are still growing and at a faster pace than markets were expecting, despite the drop off in drilling and rig counts.
The gold price recorded a big drop-off in New York today of US$17/oz and now trades at US$1,186/oz.
The New Zealand dollar starts today at about the same as it was this time yesterday at 76.7 US¢, lower at 98.7 AU¢, and higher at 71.5 euro cents. The TWI is still very high at 81.6.
If you want to catch up with all the local changes yesterday, we have an update here.
The easiest place to stay up with event risk is by following our Economic Calendar here »