Jason Wong

NZD's run after the local close on Friday should limit any positive reaction to the election; EUR well supported after a series strong PMI readings; GBP weakest of the majors, as PM May delivered an important Brexit speech

NZD's run after the local close on Friday should limit any positive reaction to the election; EUR well supported after a series strong PMI readings; GBP weakest of the majors, as PM May delivered an important Brexit speech

UST rates traded a 2.24-2.28% range to currently sit flat at 2.27%; Australian rates lower after dovish speech from RBA's Lowe; NZ rates moves modest

UST rates traded a 2.24-2.28% range to currently sit flat at 2.27%; Australian rates lower after dovish speech from RBA's Lowe; NZ rates moves modest

AUD worst performing major, down 1.2% to 0.7930 USD, following RBA Governor Lowe's speech; NZD also lower, testing the 0.7300 USD level; NZDAUD climbed up through the 0.9200 mark

AUD worst performing major, down 1.2% to 0.7930 USD, following RBA Governor Lowe's speech; NZD also lower, testing the 0.7300 USD level; NZDAUD climbed up through the 0.9200 mark

US Treasury yields are up around 4-5bps across the curve, with the 10-year rate up 4bps to 2.28%; the probability of the Fed hiking in December according to the Fed Fund curve has nudged up further to 60%; NZ rates continued to follow global rates higher

US Treasury yields are up around 4-5bps across the curve, with the 10-year rate up 4bps to 2.28%; the probability of the Fed hiking in December according to the Fed Fund curve has nudged up further to 60%; NZ rates continued to follow global rates higher

After being down 0.3% for the day, the USD majors index is now up 0.7%; NZD the only major up against the USD, currently trading at 0.7335; AUD is trading around 0.8000 USD and NZDAUD is at 0.9170

After being down 0.3% for the day, the USD majors index is now up 0.7%; NZD the only major up against the USD, currently trading at 0.7335; AUD is trading around 0.8000 USD and NZDAUD is at 0.9170

US focus on Fed dot plot. US Fed membership to get more hawish. NZ 10yr swap at 6 week high

US focus on Fed dot plot. US Fed membership to get more hawish. NZ 10yr swap at 6 week high

NZD trading close to the session highs of around 0.7320 USD; AUD trading at 0.8015 USD; other majors slightly up against the USD

NZD trading close to the session highs of around 0.7320 USD; AUD trading at 0.8015 USD; other majors slightly up against the USD

Fed Funds pricing suggests odds of a hike by December are just above the 50% mark; yields continue to rise across the curve; USD mostly up across the board; NZD down 0.6% to 0.7260 USD; local rates higher and steeper

Fed Funds pricing suggests odds of a hike by December are just above the 50% mark; yields continue to rise across the curve; USD mostly up across the board; NZD down 0.6% to 0.7260 USD; local rates higher and steeper

NZD traded its way up to 0.7300 USD on Friday; GBP rose by 1.5% after rising 1.4% on the previous day; AUDUSD was flat around 0.8000 and NZDAUD was at 0.9115

NZD traded its way up to 0.7300 USD on Friday; GBP rose by 1.5% after rising 1.4% on the previous day; AUDUSD was flat around 0.8000 and NZDAUD was at 0.9115

European rates set the tone, but focus turns to US Fed meeting decisions. Local eyes on Q2 GDP and election

European rates set the tone, but focus turns to US Fed meeting decisions. Local eyes on Q2 GDP and election

UK and Australia data has markets seeing rate hikes, currencies turn higher. US inflation rise raises chance of December Fed rise. NZD the weakest performer

UK and Australia data has markets seeing rate hikes, currencies turn higher. US inflation rise raises chance of December Fed rise. NZD the weakest performer

Some momentum on US tax reform boosted the USD, the major TWI index was up 0.5%; UK unemployment rate fell to a 42-year low; NZD is down 0.7% to 0.7235, driven by USD strength

Some momentum on US tax reform boosted the USD, the major TWI index was up 0.5%; UK unemployment rate fell to a 42-year low; NZD is down 0.7% to 0.7235, driven by USD strength

Austria sells century bond into huge demand. German and US 10yr rates rise sharply. Receiving interest strong in local markets

Austria sells century bond into huge demand. German and US 10yr rates rise sharply. Receiving interest strong in local markets

GBP best performer of the day on stronger than expected inflation data; NZD supported by shock political poll, currently trading at 0.7290; USD managed to hang onto its gains from the previous session

GBP best performer of the day on stronger than expected inflation data; NZD supported by shock political poll, currently trading at 0.7290; USD managed to hang onto its gains from the previous session

A risk-on move sees the VIX falling to a 10-handle, JPY and CHF down over 1% and bond yields higher across the board; NZD a touch down from the weekend close at 0.7250 USD; local rates saw upward pressure

A risk-on move sees the VIX falling to a 10-handle, JPY and CHF down over 1% and bond yields higher across the board; NZD a touch down from the weekend close at 0.7250 USD; local rates saw upward pressure

The local 2 yr swap rate was steady at 2.15% but the 10 yr fell 4 bps to 3.04%, a fresh low for the year; German rates were lower on a Reuters report on the latest ECB meeting, the effects of which also spilled over to the US Treasuries

The local 2 yr swap rate was steady at 2.15% but the 10 yr fell 4 bps to 3.04%, a fresh low for the year; German rates were lower on a Reuters report on the latest ECB meeting, the effects of which also spilled over to the US Treasuries

USD was weaker on US tensions with North Korea, Hurricane Irma and a possible delay in rate hikes; NZDUSD closed the week at around 0.7265 after reaching a high of 0.7338; NZDAUD 0.3% higher to around the 0.9020 level

USD was weaker on US tensions with North Korea, Hurricane Irma and a possible delay in rate hikes; NZDUSD closed the week at around 0.7265 after reaching a high of 0.7338; NZDAUD 0.3% higher to around the 0.9020 level

USD weaker across the board, with the USD TWI down 0.6%; EUR higher and German rates lower on ECB policy update; Lower German rates drag down UST rates to fresh year-to-date lows

USD weaker across the board, with the USD TWI down 0.6%; EUR higher and German rates lower on ECB policy update; Lower German rates drag down UST rates to fresh year-to-date lows

UST yields rise as debt ceiling showdown has been pushed out by a few months; local rates make fresh lows for the year, following global moves from the previous session

UST yields rise as debt ceiling showdown has been pushed out by a few months; local rates make fresh lows for the year, following global moves from the previous session

NZD has trended lower since lunchtime yesterday for no apparent reason, currently just under the 0.7200 USD mark; AUD slightly lower on weaker than expected GDP; CAD up on surprise rate hike; JPY lower as funds move out of safe haven assets

NZD has trended lower since lunchtime yesterday for no apparent reason, currently just under the 0.7200 USD mark; AUD slightly lower on weaker than expected GDP; CAD up on surprise rate hike; JPY lower as funds move out of safe haven assets

UST yields make fresh lows for the year as a number of factors see investors rush towards US Treasuries; UK and German rates are also lower; USD lower; NZD up to 0.7245 USD, up 1.2% for the day

UST yields make fresh lows for the year as a number of factors see investors rush towards US Treasuries; UK and German rates are also lower; USD lower; NZD up to 0.7245 USD, up 1.2% for the day

CHF and JPY outperformed and global rates were lower as North Korean tensions escalated; NZD traded in a tight range overnight to currently trade at 0.7170; local rates were lower on a quiet trading day

CHF and JPY outperformed and global rates were lower as North Korean tensions escalated; NZD traded in a tight range overnight to currently trade at 0.7170; local rates were lower on a quiet trading day

AUD and CAD outperformed and global rates were higher as risk appetite improved; NZD, however, underperformed, closing the week at 0.7160 USD; UST 10yr yield was up 5 bps for the day to 2.165%

AUD and CAD outperformed and global rates were higher as risk appetite improved; NZD, however, underperformed, closing the week at 0.7160 USD; UST 10yr yield was up 5 bps for the day to 2.165%

UST 10yr yield was flat at 2.13% after rising up to 2.15% during the Asian session; local rate curve was steeper and higher with the 2yr rate up 1bp and the 10yr up 3 bps

UST 10yr yield was flat at 2.13% after rising up to 2.15% during the Asian session; local rate curve was steeper and higher with the 2yr rate up 1bp and the 10yr up 3 bps

NZD underperformed despite risk sentiment improving and outperformance of other commodity currencies; USD TWI was 0.3% lower on weak US data releases and strong Canadian GDP; AUD remains in favour on rising hard commodity prices

NZD underperformed despite risk sentiment improving and outperformance of other commodity currencies; USD TWI was 0.3% lower on weak US data releases and strong Canadian GDP; AUD remains in favour on rising hard commodity prices