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Doug Steel
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Prospect of a Brexit deal lifts sentiment. GBP surges; NZD/GBP drops under 0.50. Equities, global bond yields higher
16th Oct 19, 8:00am
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Prospect of a Brexit deal lifts sentiment. GBP surges; NZD/GBP drops under 0.50. Equities, global bond yields higher
Global bond markets meaningfully extended last week’s sell-off, safe haven currencies slightly underperformed, while commodity prices edged higher. Not so for equity markets which marked time
10th Sep 19, 8:17am
Global bond markets meaningfully extended last week’s sell-off, safe haven currencies slightly underperformed, while commodity prices edged higher. Not so for equity markets which marked time
US equity markets have lifted, while bond yields have consolidated yesterday’s drop after testing even lower levels; US dollar has recovered with major indices back to where they were pre-Fed; NZD pushed above 0.6900
22nd Mar 19, 8:10am
US equity markets have lifted, while bond yields have consolidated yesterday’s drop after testing even lower levels; US dollar has recovered with major indices back to where they were pre-Fed; NZD pushed above 0.6900
Markets optimistic on positive signs in US-China trade discussions, further policy tweaks by China, more positive Brexit smoke signals, and Trump signing bill to reopen the US government
28th Jan 19, 7:51am
Markets optimistic on positive signs in US-China trade discussions, further policy tweaks by China, more positive Brexit smoke signals, and Trump signing bill to reopen the US government
US dollar has pushed higher across the board, arresting its slide over the past week; plunge in oil prices continues; NZD opens this morning close to its overnight lows around 0.6810; US interest rates traded a narrow range
21st Nov 18, 7:43am
US dollar has pushed higher across the board, arresting its slide over the past week; plunge in oil prices continues; NZD opens this morning close to its overnight lows around 0.6810; US interest rates traded a narrow range
Equity markets oscillated around flat before pressing lower, likewise US yields; oil prices have recovered a small amount of recent heavy losses; NZD is at the top of the G10 leader board
15th Nov 18, 7:54am
Equity markets oscillated around flat before pressing lower, likewise US yields; oil prices have recovered a small amount of recent heavy losses; NZD is at the top of the G10 leader board
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
16th Jul 18, 11:52am
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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
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
12th 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
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
21st 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
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
20th 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
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
20th 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
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
22nd 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
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
22nd 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
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
21st 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
Equity markets rise in improving outlook. Local liquidity factors weigh on our rates with loan demand soft. Eyes on RBA speech
21st 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
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
15th Nov 17, 8:10am
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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
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
15th 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
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
14th 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
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
13th 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
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
13th 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
Local rates will meander sideways until next Government is revealed. US Fed decision awaits US CPI reading, most analysts expect a December rise
11th 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
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
11th 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
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
10th 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
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
10th 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
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
31st 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