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Doug Steel
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Eyes on US employment data, but S&P warns on US debt ceiling brinkmanship. Risk aversion eases. Local rates 'void of broad direction'
31st 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'
North Korea fired a missile towards Japan yesterday, which soured risk sentiment; risk sentiment recovered later in day as markets speculated that tensions will not escalate; NZD followed the global risk sentiment moves to trade at 0.7250 USD this morning
30th Aug 17, 8:25am
North Korea fired a missile towards Japan yesterday, which soured risk sentiment; risk sentiment recovered later in day as markets speculated that tensions will not escalate; NZD followed the global risk sentiment moves to trade at 0.7250 USD this morning
Markets fret about US debt ceiling, North Korea, US tax reform. And adopt a risk off view. Low long end yields continued recent NZ curve flattening
30th Aug 17, 8:08am
Markets fret about US debt ceiling, North Korea, US tax reform. And adopt a risk off view. Low long end yields continued recent NZ curve flattening
USD extended Friday's losses on a thin trading day, the DXY index was down 0.5%; European currencies continued to benefit; NZDUSD trades at the top of its 30 point range; gold up more than 1.5%
29th Aug 17, 8:29am
USD extended Friday's losses on a thin trading day, the DXY index was down 0.5%; European currencies continued to benefit; NZDUSD trades at the top of its 30 point range; gold up more than 1.5%
Markets await Trump tax plan, but assume he be equally ineffective as previous 'plans'. Other data should have larger impact
29th Aug 17, 8:05am
Markets await Trump tax plan, but assume he be equally ineffective as previous 'plans'. Other data should have larger impact
Mixed US data weighs on UST yields, with European long end yields following. These moves will influence local yields today. Spencer speech expected to make no waves
2nd Aug 17, 8:23am
Mixed US data weighs on UST yields, with European long end yields following. These moves will influence local yields today. Spencer speech expected to make no waves
NZD pressed down towards 0.7460 USD before finding support; USD recovered some losses after mixed data releases; AUDUSD 0.5% lower at 0.7965 and AUDNZD trading at around 0.9380
2nd Aug 17, 8:19am
NZD pressed down towards 0.7460 USD before finding support; USD recovered some losses after mixed data releases; AUDUSD 0.5% lower at 0.7965 and AUDNZD trading at around 0.9380
USD suffers fifth consecutive monthly loss, the longest streak since 2011; NZD, AUD and CAD direction driven by commodity prices; EURUSD trading at highest level since early 2015
1st Aug 17, 8:17am
USD suffers fifth consecutive monthly loss, the longest streak since 2011; NZD, AUD and CAD direction driven by commodity prices; EURUSD trading at highest level since early 2015
Bond yields take a break as neither data flows nor policy maker signals indicate where fixed income markets are headed
1st Aug 17, 8:08am
Bond yields take a break as neither data flows nor policy maker signals indicate where fixed income markets are headed
Weaker than expected GDP data and US politics weigh in on the USD, the DXY down 0.6%, UST yields lower; NZD benefits from the weakening USD; NZGB yields rose on Friday, with a steepening bias
31st Jul 17, 8:21am
Weaker than expected GDP data and US politics weigh in on the USD, the DXY down 0.6%, UST yields lower; NZD benefits from the weakening USD; NZGB yields rose on Friday, with a steepening bias
USD rose against most major currencies overnight as it fought back from the punishment it took after the Fed announcement; NZD tested 0.7560 USD yesterday, currently trading below the 0.7500 mark; NZDAUD opens at 0.9400
28th Jul 17, 8:21am
USD rose against most major currencies overnight as it fought back from the punishment it took after the Fed announcement; NZD tested 0.7560 USD yesterday, currently trading below the 0.7500 mark; NZDAUD opens at 0.9400
Despite a small rise in the US, yields are generally lower around the world, including in New Zealand. Focus turns to US Q2 GDP result
28th Jul 17, 8:17am
Despite a small rise in the US, yields are generally lower around the world, including in New Zealand. Focus turns to US Q2 GDP result
US Fed comments drive a fall in yields. RBNZ reduces their view of the neutral cash rate. Australian inflation miss and RBA comment sees their yields slip
27th Jul 17, 9:51am
US Fed comments drive a fall in yields. RBNZ reduces their view of the neutral cash rate. Australian inflation miss and RBA comment sees their yields slip
NZD up more than 1% against the USD, trading above the 0.7500 mark; USD lower as Fed keeps rates unchanged, as expected, and stated that the balance sheet unwind would start soon; AUD lower against the NZD after weak CPI data
27th Jul 17, 8:22am
NZD up more than 1% against the USD, trading above the 0.7500 mark; USD lower as Fed keeps rates unchanged, as expected, and stated that the balance sheet unwind would start soon; AUD lower against the NZD after weak CPI data
NZD tested 0.7450 USD before drifting lower on USD strength to currently sit around 0.7410; AUD tested 0.7970 USD on higher commodity prices; oil up over 3% in a risk on environment
26th Jul 17, 8:13am
NZD tested 0.7450 USD before drifting lower on USD strength to currently sit around 0.7410; AUD tested 0.7970 USD on higher commodity prices; oil up over 3% in a risk on environment
Upbeat news lifts all boats. RBNZ and RBA to make watched comments, Eyes then shift to signals from US Fed
26th Jul 17, 8:12am
Upbeat news lifts all boats. RBNZ and RBA to make watched comments, Eyes then shift to signals from US Fed
NZD traded a tight 25 pip range with a mild drift lower, opening at 0.7430 USD; US 10yr yield 2 bps lower to 2.26%; NZGB yields 2 bps lower across the curve, local swaps up less than 1 bps; oil up more than 1%
25th Jul 17, 8:16am
NZD traded a tight 25 pip range with a mild drift lower, opening at 0.7430 USD; US 10yr yield 2 bps lower to 2.26%; NZGB yields 2 bps lower across the curve, local swaps up less than 1 bps; oil up more than 1%
NZD pushed up to 0.7454 USD, its highest level since September; the DXY US dollar index fell 0.5% on Friday, taking it down nearly 1.4% for the week; AUD strength checked; EUR remains main beneficiary of USD weakness
24th Jul 17, 8:12am
NZD pushed up to 0.7454 USD, its highest level since September; the DXY US dollar index fell 0.5% on Friday, taking it down nearly 1.4% for the week; AUD strength checked; EUR remains main beneficiary of USD weakness
US benchmark yields "leak lower". German and UK yields follow. NZ yields lower and flatter
24th Jul 17, 8:08am
US benchmark yields "leak lower". German and UK yields follow. NZ yields lower and flatter
The next US Fed rate hike possible in September, about the time their balance sheet selldown starts. NZ rates settle after RBA and earlier run-up
6th Jul 17, 8:30am
The next US Fed rate hike possible in September, about the time their balance sheet selldown starts. NZ rates settle after RBA and earlier run-up
NZD tested the 0.7260 USD level prior to rebounding as oil prices stabilised and is now trading at 0.7290 USD; NZDAUD at 0.9590 and could rise today if the Australian trade balance is below expectations
6th Jul 17, 8:27am
NZD tested the 0.7260 USD level prior to rebounding as oil prices stabilised and is now trading at 0.7290 USD; NZDAUD at 0.9590 and could rise today if the Australian trade balance is below expectations
Receivers re-enter the local interest rates market leading to a pull-back in the sharp run-up in rates. But it may only be a temporary respite
5th Jul 17, 8:28am
Receivers re-enter the local interest rates market leading to a pull-back in the sharp run-up in rates. But it may only be a temporary respite
Markets digested comments from the Riksbank, the ECB, BoC, and RBA over the past 24 hours; NZDUSD changed little from yesterday, still trading just under the 0.7300 level
5th Jul 17, 8:14am
Markets digested comments from the Riksbank, the ECB, BoC, and RBA over the past 24 hours; NZDUSD changed little from yesterday, still trading just under the 0.7300 level
NZDUSD testing 0.7050 level and sits near the top of the leaderboard; Fed minutes from the May meeting supported a June rate hike and a gradual reduction of the balance sheet; Draghi plays down unwarranted side effects from negative rates
25th May 17, 8:26am
NZDUSD testing 0.7050 level and sits near the top of the leaderboard; Fed minutes from the May meeting supported a June rate hike and a gradual reduction of the balance sheet; Draghi plays down unwarranted side effects from negative rates
NZ Budget expected to bring "a clear net fiscal stimulus" and ratings agencies likely to "make positive noises"
25th May 17, 8:22am
NZ Budget expected to bring "a clear net fiscal stimulus" and ratings agencies likely to "make positive noises"