Jason Wong

Against a backdrop of a broadly stronger USD, the NZD has underperformed, while rates markets have barely moved; higher oil prices seem to have offered some support to CAD and AUD; US 10-year rate in a tight range and steady at 2.88%

Against a backdrop of a broadly stronger USD, the NZD has underperformed, while rates markets have barely moved; higher oil prices seem to have offered some support to CAD and AUD; US 10-year rate in a tight range and steady at 2.88%

Global equity markets have been rattled by focus on escalating US-China trade tensions; commodity currencies have underperformed but movements have been modest; safe-havens have outperformed; bond market reaction to the trade news has been well contained

Global equity markets have been rattled by focus on escalating US-China trade tensions; commodity currencies have underperformed but movements have been modest; safe-havens have outperformed; bond market reaction to the trade news has been well contained

NZD and AUD ended the week on a positive note; USD struggled to perform against the majors; rates were little changed for the day; PBoC cut the reserve ratio requirement for large commercial banks; focus will remain on the US-China trade war

NZD and AUD ended the week on a positive note; USD struggled to perform against the majors; rates were little changed for the day; PBoC cut the reserve ratio requirement for large commercial banks; focus will remain on the US-China trade war

USD is stronger across the board while the EUR has been hit by a dovish ECB; global rates faced downward pressure; NZD has performed better than most but the USD strength sees it down to around 0.6980

USD is stronger across the board while the EUR has been hit by a dovish ECB; global rates faced downward pressure; NZD has performed better than most but the USD strength sees it down to around 0.6980

Fed's Powell suggests every meeting 'live' for a change higher. US PPI higher than expected. US preparing new tariffs on China's goods. Eyes on ECB decision

Fed's Powell suggests every meeting 'live' for a change higher. US PPI higher than expected. US preparing new tariffs on China's goods. Eyes on ECB decision

NZD and AUD have slightly underperformed in overnight trading; USD is better bid in overnight trading with various dollar indices up around 0.3%; UST 10-year rates have traded in a 2.94-2.98% range and currently sit at 2.96%, up 1bp from the NZ close

NZD and AUD have slightly underperformed in overnight trading; USD is better bid in overnight trading with various dollar indices up around 0.3%; UST 10-year rates have traded in a 2.94-2.98% range and currently sit at 2.96%, up 1bp from the NZ close

NZD sits this morning around 0.7020, down ever so slightly from the 0.7030 level it was anchored around for much of last week; EUR has generally had a positive session; US Treasury rates are higher, with a slight flattening bias

NZD sits this morning around 0.7020, down ever so slightly from the 0.7030 level it was anchored around for much of last week; EUR has generally had a positive session; US Treasury rates are higher, with a slight flattening bias

Markets ignore Trump trade tensions. Brazil recovers. Canada wage data strong, bolstering rate hike expectations. Eyes on US CPI, Fed, ECB, BofJ

Markets ignore Trump trade tensions. Brazil recovers. Canada wage data strong, bolstering rate hike expectations. Eyes on US CPI, Fed, ECB, BofJ

Brazil’s Real is under significant pressure for the third consecutive day; NZD has held up relatively well, against a backdrop of softer equity markets and lower US Treasury yields; NZ rates were higher across the curve

Brazil’s Real is under significant pressure for the third consecutive day; NZD has held up relatively well, against a backdrop of softer equity markets and lower US Treasury yields; NZ rates were higher across the curve

AUD and EUR show the best gains for the day, with safe-havens JPY and CHF dragging the chain; Italy’s bond market remains under pressure, with its 10-year rate up 14bps to 2.90%; NZD is flat to slightly down on most crosses apart from NZDJPY

AUD and EUR show the best gains for the day, with safe-havens JPY and CHF dragging the chain; Italy’s bond market remains under pressure, with its 10-year rate up 14bps to 2.90%; NZD is flat to slightly down on most crosses apart from NZDJPY

NZD has traded in about a 40pip range over the past 24 hours, dipping as low as 0.6998 this morning, but now back to the 0.7030 mark; GBP has outperformed; US 10-year rate is 3bps lower, likely dragged lower by falling German rates

NZD has traded in about a 40pip range over the past 24 hours, dipping as low as 0.6998 this morning, but now back to the 0.7030 mark; GBP has outperformed; US 10-year rate is 3bps lower, likely dragged lower by falling German rates

AUD at the top of the leaderboard; NZD trading higher since Friday’s NZ 5pm close against all majors except for the AUD; US 10-year Treasuries are up 3bps to 2.93% for the day, and closer to 6bps higher since the NZ local close on Friday

AUD at the top of the leaderboard; NZD trading higher since Friday’s NZ 5pm close against all majors except for the AUD; US 10-year Treasuries are up 3bps to 2.93% for the day, and closer to 6bps higher since the NZ local close on Friday

JPY and CHF have been the best performers overnight; Germany 10-year bunds have reached a fresh low for the year; NZD has remained stuck in a trading range this week of less than 1-cent and currently sits at 0.6930; NZ’s yield curve flattened yesterday

JPY and CHF have been the best performers overnight; Germany 10-year bunds have reached a fresh low for the year; NZD has remained stuck in a trading range this week of less than 1-cent and currently sits at 0.6930; NZ’s yield curve flattened yesterday

Safe-haven currencies like JPY outperform, with softer global equity markets and lower global bond rates; UST10s dipped below 3%; NZD is currently around 0.6920, only down slightly from this time yesterday

Safe-haven currencies like JPY outperform, with softer global equity markets and lower global bond rates; UST10s dipped below 3%; NZD is currently around 0.6920, only down slightly from this time yesterday

NZD climbed up to a high of 0.6975 USD in early London trading but there has been a steady decline since, retreating to 0.6930; 10-year Treasury rate tightly range-bound between 3.05-3.08%; EUR was stronger after the China car tariff news

NZD climbed up to a high of 0.6975 USD in early London trading but there has been a steady decline since, retreating to 0.6930; 10-year Treasury rate tightly range-bound between 3.05-3.08%; EUR was stronger after the China car tariff news

Despite disappointing retail sales, the NZD may not weaken further as it is bolstered by strong terms of trade. Italy toys with issuing parallel currency, worrying its EU partners

Despite disappointing retail sales, the NZD may not weaken further as it is bolstered by strong terms of trade. Italy toys with issuing parallel currency, worrying its EU partners

Political risk on Italy weighs on the euro. Japan inflation weighs on the yen. NAFTA talks weigh on the CAD. Through all this the NZD comes through well

Political risk on Italy weighs on the euro. Japan inflation weighs on the yen. NAFTA talks weigh on the CAD. Through all this the NZD comes through well

US bond yields continue to track higher, with the 10-year rate currently trading at 3.11%; NZD is down 0.3% for the day to 0.6875; GBP has been a bit choppy

US bond yields continue to track higher, with the 10-year rate currently trading at 3.11%; NZD is down 0.3% for the day to 0.6875; GBP has been a bit choppy

NZD is having a much better day after its recent rout; NZ rates across the curve and some steepening; UST yields sustained yesterday’s upward move; EUR has been under a bit of pressure

NZD is having a much better day after its recent rout; NZ rates across the curve and some steepening; UST yields sustained yesterday’s upward move; EUR has been under a bit of pressure

UST yields have nudged a little lower; USD is mainly softer; NZD is modestly higher across the board; NZ rates curve barely showed any movement yesterday

UST yields have nudged a little lower; USD is mainly softer; NZD is modestly higher across the board; NZ rates curve barely showed any movement yesterday

USD index (BBDXY) has lost about 0.25% since the FOMC announcement; NZD sits this morning at 0.7020, up from the overnight low of 0.6996 immediately before the FOMC; local market saw a slight steepening of the yield curve

USD index (BBDXY) has lost about 0.25% since the FOMC announcement; NZD sits this morning at 0.7020, up from the overnight low of 0.6996 immediately before the FOMC; local market saw a slight steepening of the yield curve

NZD temporarily broke down through 0.70 although it has managed to hold just above 0.70 over the past few hours; USD indices up 0.5-0.7%; UST rates are about 1bp higher across the curve; weakest of the majors has been the GBP

NZD temporarily broke down through 0.70 although it has managed to hold just above 0.70 over the past few hours; USD indices up 0.5-0.7%; UST rates are about 1bp higher across the curve; weakest of the majors has been the GBP

Key US inflation data overnight were in line with expectations; USD has weakened slightly since the inflation data release; AUD has underperformed alongside the NZD which sees the NZDAUD cross flat around 0.9345

Key US inflation data overnight were in line with expectations; USD has weakened slightly since the inflation data release; AUD has underperformed alongside the NZD which sees the NZDAUD cross flat around 0.9345

Korean detente ignored. US and UK growth subdued, although US inflation firms. BofJ gives up on 2% inflation target. Eyes on NZ business confidence

Korean detente ignored. US and UK growth subdued, although US inflation firms. BofJ gives up on 2% inflation target. Eyes on NZ business confidence

Stronger risk appetite sees the NZD continuing to grind higher, up to 0.7380 and reaching a high overnight of 0.7389; NZD has made its best gains against the safe-haven JPY and EUR; SEK falls 1% against the USD

Stronger risk appetite sees the NZD continuing to grind higher, up to 0.7380 and reaching a high overnight of 0.7389; NZD has made its best gains against the safe-haven JPY and EUR; SEK falls 1% against the USD