Jason Wong

NZ long end rates following global direction, short end rates ignoring RBNZ. Focus turns to action-packed data calendar

NZ long end rates following global direction, short end rates ignoring RBNZ. Focus turns to action-packed data calendar

NZD down to 0.7167 USD as the USD trended higher; NZD is flat on the other key crosses; AUD is struggling against the backdrop of weaker iron ore prices

NZD down to 0.7167 USD as the USD trended higher; NZD is flat on the other key crosses; AUD is struggling against the backdrop of weaker iron ore prices

USD supported by Trump's tax reform plan; NZD the only major currency that has managed to gain against the USD, with gains on all the crosses

USD supported by Trump's tax reform plan; NZD the only major currency that has managed to gain against the USD, with gains on all the crosses

RBNZ on sidelines, as new Acting Governor takes over. Local rates respond to international pressures, rising in steepening trend

RBNZ on sidelines, as new Acting Governor takes over. Local rates respond to international pressures, rising in steepening trend

USD was up on all crosses except the CAD; NZD continues to underperform, managing to climb back up to 0.7210 after falling as low as 0.7168; EUR has been under downward pressure through most of the night

USD was up on all crosses except the CAD; NZD continues to underperform, managing to climb back up to 0.7210 after falling as low as 0.7168; EUR has been under downward pressure through most of the night

UST yields a little higher. NZ rates following offshore trends. No election reaction in rates markets

UST yields a little higher. NZ rates following offshore trends. No election reaction in rates markets

US-North Korea tensions escalating sees JPY head the leaderboard and UST yields lower; EUR and NZD are softer as the market digests the election results; local rates market showed a 2-3bps fall

US-North Korea tensions escalating sees JPY head the leaderboard and UST yields lower; EUR and NZD are softer as the market digests the election results; local rates market showed a 2-3bps fall

North Korean headlines during New Zealand trading hours on Friday saw the UST 10 yr rate down 3 bps to 2.25%; this price action flowed through to local rates

North Korean headlines during New Zealand trading hours on Friday saw the UST 10 yr rate down 3 bps to 2.25%; this price action flowed through to local rates

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