Doug Steel

Articles by Doug Steel

16 Jul 18, 11:52am
The June PSI data is "more worrying from a growth perspective" and may bring into question the basis to an upside option for the RBNZ and its policy interest rate
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12 Jul 18, 8:10am
President Trump continued with plans to impose tariffs on an additional $200b of Chinese goods; equity markets, US bond yields, and commodity prices generally fell; AUD and NZD continued to press lower overnight
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21 Jun 18, 8:08am
Fed's Powell says case for continued gradual increases in the federal funds rate is strong; USD DXY index up marginally on day; UST 10 yr yields pushed higher; NZD sits at the bottom of the G10 currency leaderboard; local rates were marginally higher
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20 Feb 18, 8:30am
USD has wriggled higher, adding to the recovery it started late last week; NZDUSD pushed slowly higher yesterday reaching 0.7410 before drifting lower; AUD slightly outperformed the NZD overnight, checking the recent gains in NZDAUD
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20 Feb 18, 8:29am
NZ rates outperform US equivalents. Markets price next RBNZ hike in May 2019. Eyes on FOMC minutes seeking signals on how inflation signs are being read
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22 Nov 17, 8:09am
Markets starting to accept the US Fed will be raising rates, ahead of Fed minutes release. Local rates follow. Local migration data unlikely to move markets
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22 Nov 17, 7:59am
NZDUSD pushed up to around 0.6840 overnight, having dipped below 0.6800 yesterday, currently it sits at 0.6830; US dollar marginally lower, with the DXY Index down about 0.2%; AUD remained under downwards pressure yesterday; GBP has held onto recent gains
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21 Nov 17, 8:03am
Commodity currencies remain generally out of favour; NZD/USD did push up toward 0.6840 after the local close yesterday, but drifted back with USD strength overnight; EUR has been on its own mini roller coaster at the start of the week
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21 Nov 17, 7:49am
Equity markets rise in improving outlook. Local liquidity factors weigh on our rates with loan demand soft. Eyes on RBA speech
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15 Nov 17, 8:10am
Yellen expresses frustration over 'lots of speeches'. UST 10yr pulls back from 2.40% level, curve flatter. Eyes on US CPI and AU wage data. Local rates little changed
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15 Nov 17, 8:05am
EUR higher on German GDP results; USD indices retreat, reflecting EUR strength; NZD fell to 0.6850 USD but recovered some losses to currently trade at 0.6880; NZDAUD came under pressure following positive AU business conditions data
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14 Nov 17, 8:02am
GBP at the bottom of the leaderboard; USD slightly higher; NZDUSD faces downside risk; AUDUSD continues to probe lower; global yields lower; local yields tried to push higher, reflecting global moves from the previous session
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13 Oct 17, 8:23am
Oil price fall supports rise in bond prices, despite US PPI inflation. NZ yields fall across the curve in sympathy. Eyes on US, China and AU data
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13 Oct 17, 8:13am
GBP has had a wild ride overnight on the ebb and flow of Brexit talk headlines; NZD and AUD have performing strongly; US dollar index currently sits flat on the day, halting a four day decline
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11 Oct 17, 9:05am
Local rates will meander sideways until next Government is revealed. US Fed decision awaits US CPI reading, most analysts expect a December rise
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11 Oct 17, 8:01am
USD traded lower overnight, down moderately against all majors; European currencies rose overnight, reflecting a soft USD; NZD has generally underperformed, up just 0.1% against a weaker USD
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10 Oct 17, 8:03am
European 10yr bond yields ease 1-3 bps; local rates movements all within a basis point across the swap curve; NZ government bond yields did push 2 to 3.5 basis points higher across the curve
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10 Oct 17, 7:57am
NZDUSD opens this morning around 0.7070, while NZDAUD sits close to 0.9110; GBP gained some support; EUR up 0.2% to close at 1.1750
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31 Aug 17, 8:26am
USD DXY index was up 0.7% as broad based gains were made on better than expected GDP and employment data; NZDUSD closed at the bottom of its recent 0.7190 to 0.7300 range; NZDAUD tested the 0.9070 support level to currently trade at 0.9110
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31 Aug 17, 8:21am
Eyes on US employment data, but S&P warns on US debt ceiling brinkmanship. Risk aversion eases. Local rates 'void of broad direction'
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