Nick Smyth

Fed releases a surprise statement saying that it will “act as appropriate” – market prices 35bps of Fed cuts for March meeting. Chinese PMIs slump to record lows – should see NZD and AUD open lower this morning

Fed releases a surprise statement saying that it will “act as appropriate” – market prices 35bps of Fed cuts for March meeting. Chinese PMIs slump to record lows – should see NZD and AUD open lower this morning

Market jitters around COVID-19 grow stronger, spilling over into weakness in equities. Asian currencies fall further on COVID-19 fears. AUD hits 11-year low, NZD down to 0.6335

Market jitters around COVID-19 grow stronger, spilling over into weakness in equities. Asian currencies fall further on COVID-19 fears. AUD hits 11-year low, NZD down to 0.6335

Equities rise to new highs; Apple’s revenue revision now ‘yesterday’s news’. USD strengthens further. JPY weakens sharply due to recession fears, risk-on backdrop. Stronger USD drives NZD down to a fresh low for 2020

Equities rise to new highs; Apple’s revenue revision now ‘yesterday’s news’. USD strengthens further. JPY weakens sharply due to recession fears, risk-on backdrop. Stronger USD drives NZD down to a fresh low for 2020

Risk-off backdrop yesterday after Apple says it doesn’t expect to meet revenue guidance due to COVID-19. Equities fall further overnight before recovering over the last hour. Broad-based strength in the USD. NZD hovering just above YTD lows

Risk-off backdrop yesterday after Apple says it doesn’t expect to meet revenue guidance due to COVID-19. Equities fall further overnight before recovering over the last hour. Broad-based strength in the USD. NZD hovering just above YTD lows

Markets very quiet with the US out for Presidents Day. China cuts MLF rate by 10bps, supporting Chinese equities and broader sentiment. NZD unchanged to start the week

Markets very quiet with the US out for Presidents Day. China cuts MLF rate by 10bps, supporting Chinese equities and broader sentiment. NZD unchanged to start the week

Equities consolidate on Friday night but S&P500 manages to make a fresh record high. Global rates fall after soft US retail sales release. New COVID-19 cases fall for a 3rd day in a row – should be a boost to risk assets to start the week

Equities consolidate on Friday night but S&P500 manages to make a fresh record high. Global rates fall after soft US retail sales release. New COVID-19 cases fall for a 3rd day in a row – should be a boost to risk assets to start the week

Equities, rates, commodities fall on coronavirus growth concerns. Weakness in Asian and commodity currencies drives NZD below 0.65. BoE keeps rates on-hold, supporting the GBP

Equities, rates, commodities fall on coronavirus growth concerns. Weakness in Asian and commodity currencies drives NZD below 0.65. BoE keeps rates on-hold, supporting the GBP

Equity markets consolidate while bond yields and commodities fall. NZD makes an eight-week low amidst weakness in commodity currencies

Equity markets consolidate while bond yields and commodities fall. NZD makes an eight-week low amidst weakness in commodity currencies

US equities shrug off reports of further spread in coronavirus, but rates stay lower. Better European and UK data. Limited moves in currencies; NZD unchanged

US equities shrug off reports of further spread in coronavirus, but rates stay lower. Better European and UK data. Limited moves in currencies; NZD unchanged

Risk-on continues with new highs for equities in US and Europe. Market increases probability of BoE cut later this month after terrible UK retail sales. US holiday tonight, NZ market to be quiet with Wellington Anniversary Day

Risk-on continues with new highs for equities in US and Europe. Market increases probability of BoE cut later this month after terrible UK retail sales. US holiday tonight, NZ market to be quiet with Wellington Anniversary Day

Risk-on continues, with new highs for US equities. Stronger US data supports USD, rates. NZD increases after (generally) positive domestic data

Risk-on continues, with new highs for US equities. Stronger US data supports USD, rates. NZD increases after (generally) positive domestic data

Fresh record highs for US equities as US-China sign Phase-One deal. Very weak UK CPI data adds to case for BoE rate cut and drags down global rates. NZD underperforms again

Fresh record highs for US equities as US-China sign Phase-One deal. Very weak UK CPI data adds to case for BoE rate cut and drags down global rates. NZD underperforms again

Market sentiment remains buoyant ahead of Phase-One deal signing. US core CPI lower than expected, dragging down global rates slightly. NZD underperforms overnight

Market sentiment remains buoyant ahead of Phase-One deal signing. US core CPI lower than expected, dragging down global rates slightly. NZD underperforms overnight

Markets in wind-down mode heading into Christmas. Equity markets nudge higher, little change to global rates. Riksbank hikes rates 25bps, ending negative rate policy

Markets in wind-down mode heading into Christmas. Equity markets nudge higher, little change to global rates. Riksbank hikes rates 25bps, ending negative rate policy

Equities, bond yields push higher as the US-China trade agreement sinks in. Market brushes off disappointing European manufacturing PMIs. NZD unchanged to start the week; ANZ business survey released today

Equities, bond yields push higher as the US-China trade agreement sinks in. Market brushes off disappointing European manufacturing PMIs. NZD unchanged to start the week; ANZ business survey released today

US-China agree trade deal – no December tariffs and September tariffs halved from 15% to 7.5%. Details prove underwhelming for a market with high expectations – big reversal lower in bond yields

US-China agree trade deal – no December tariffs and September tariffs halved from 15% to 7.5%. Details prove underwhelming for a market with high expectations – big reversal lower in bond yields

US nonfarm payrolls much stronger-than-expected. NZD outperforms on positive Bascand comments. Wednesday's HYEFU expected to deliver a “significant” fiscal package

US nonfarm payrolls much stronger-than-expected. NZD outperforms on positive Bascand comments. Wednesday's HYEFU expected to deliver a “significant” fiscal package

NZD and NZD/AUD make fresh four-month highs as market pares back OCR cut expectations. Little move in markets as investors await payrolls tonight

NZD and NZD/AUD make fresh four-month highs as market pares back OCR cut expectations. Little move in markets as investors await payrolls tonight

The NZD is up 1.3% after Robertson signals “significant” fiscal stimulus, USD weakens across the board. Big move higher in global long-end rates on fiscal stimulus talk, upside surprise to Chinese PMIs

The NZD is up 1.3% after Robertson signals “significant” fiscal stimulus, USD weakens across the board. Big move higher in global long-end rates on fiscal stimulus talk, upside surprise to Chinese PMIs

NZD subdued – second-narrowest monthly trading range in 20 years. NZ Government signals “significant” fiscal package – expect NZ rates to open higher

NZD subdued – second-narrowest monthly trading range in 20 years. NZ Government signals “significant” fiscal package – expect NZ rates to open higher

Global rates fall modestly, S&P500 unchanged. Market shrugs off “dovish” RBA minutes from yesterday. NZD top performing currency over the past 24 hours

Global rates fall modestly, S&P500 unchanged. Market shrugs off “dovish” RBA minutes from yesterday. NZD top performing currency over the past 24 hours

Global rates fall modestly after report China was pessimistic about a trade deal. GBP rising on UK election polls. Positive local data doesn't move many needles

Global rates fall modestly after report China was pessimistic about a trade deal. GBP rising on UK election polls. Positive local data doesn't move many needles

New record highs for US equities as Kudlow implies Phase-One talks in the final stages. NZD ends the week just above 0.64 supported by a rebound in PMI, RBNZ Hawkesby comments

New record highs for US equities as Kudlow implies Phase-One talks in the final stages. NZD ends the week just above 0.64 supported by a rebound in PMI, RBNZ Hawkesby comments

US-China trade optimism drives Dow Jones to record high, global rates higher. NZ rates experience another big move higher yesterday. NZD consolidates about 0.64. RBA expected to keep rates on hold and maintain easing bias today.

US-China trade optimism drives Dow Jones to record high, global rates higher. NZ rates experience another big move higher yesterday. NZD consolidates about 0.64. RBA expected to keep rates on hold and maintain easing bias today.

Fresh record highs for S&P500, NASDAQ after strong payrolls report. Sentiment also boosted as China says a “consensus in principle” achieved on Phase-One trade agreement. USD falls for a fifth day in a row, while NZD consolidates above 0.64.

Fresh record highs for S&P500, NASDAQ after strong payrolls report. Sentiment also boosted as China says a “consensus in principle” achieved on Phase-One trade agreement. USD falls for a fifth day in a row, while NZD consolidates above 0.64.