FOMC
BNZ Interest Rate Strategist Nick Smyth explains how financial markets are behaving in a recessionary manner
31st Jul 22, 11:10am
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BNZ Interest Rate Strategist Nick Smyth explains how financial markets are behaving in a recessionary manner
US equity markets have lifted, while bond yields have consolidated yesterday’s drop after testing even lower levels; US dollar has recovered with major indices back to where they were pre-Fed; NZD pushed above 0.6900
22nd Mar 19, 8:10am
US equity markets have lifted, while bond yields have consolidated yesterday’s drop after testing even lower levels; US dollar has recovered with major indices back to where they were pre-Fed; NZD pushed above 0.6900
Markets optimistic on positive signs in US-China trade discussions, further policy tweaks by China, more positive Brexit smoke signals, and Trump signing bill to reopen the US government
28th Jan 19, 7:51am
Markets optimistic on positive signs in US-China trade discussions, further policy tweaks by China, more positive Brexit smoke signals, and Trump signing bill to reopen the US government
US dollar has pushed higher across the board, arresting its slide over the past week; plunge in oil prices continues; NZD opens this morning close to its overnight lows around 0.6810; US interest rates traded a narrow range
21st Nov 18, 7:43am
US dollar has pushed higher across the board, arresting its slide over the past week; plunge in oil prices continues; NZD opens this morning close to its overnight lows around 0.6810; US interest rates traded a narrow range
Equity markets oscillated around flat before pressing lower, likewise US yields; oil prices have recovered a small amount of recent heavy losses; NZD is at the top of the G10 leader board
15th Nov 18, 7:54am
Equity markets oscillated around flat before pressing lower, likewise US yields; oil prices have recovered a small amount of recent heavy losses; NZD is at the top of the G10 leader board
US equities rose and US Treasury yields fell modestly; NZD is not much higher than this time yesterday; USD weakened after the CPI data; Turkish central bank raised its one week repo rate by a whopping 625bps, which has helped support EM currencies
14th Sep 18, 7:48am
US equities rose and US Treasury yields fell modestly; NZD is not much higher than this time yesterday; USD weakened after the CPI data; Turkish central bank raised its one week repo rate by a whopping 625bps, which has helped support EM currencies
The USD and US rates drift lower. US wants more trade talks with China. Fed sees 'restrictive' rates needed. Oil prices reach four year highs. Eyes on US CPI
13th Sep 18, 7:54am
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The USD and US rates drift lower. US wants more trade talks with China. Fed sees 'restrictive' rates needed. Oil prices reach four year highs. Eyes on US CPI
US Treasury yields moved higher overnight, with the 10 year rate closing in on 3%; NZD made a new low against the USD and sits just above 0.65; GBP is holding above the 1.30 level against the USD
12th Sep 18, 8:03am
US Treasury yields moved higher overnight, with the 10 year rate closing in on 3%; NZD made a new low against the USD and sits just above 0.65; GBP is holding above the 1.30 level against the USD
GBP rose after EU negotiator Michel Barnier said it was “realistic” to reach a deal with the UK by November; NZD is slightly lower against the USD, but has made multi-year lows against the GBP, EUR and JPY; NZ swap rates rose 1 to 2.5bps across the curve
11th Sep 18, 7:58am
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GBP rose after EU negotiator Michel Barnier said it was “realistic” to reach a deal with the UK by November; NZD is slightly lower against the USD, but has made multi-year lows against the GBP, EUR and JPY; NZ swap rates rose 1 to 2.5bps across the curve
Greenback and UST yields moved higher on US non-farm payrolls report, especially the rising wage rate component. Markets expect rate hikes from Fed. EU and UK find compromise
10th Sep 18, 7:40am
Greenback and UST yields moved higher on US non-farm payrolls report, especially the rising wage rate component. Markets expect rate hikes from Fed. EU and UK find compromise
USD rises push the NZD and AUD to multi-year lows. Italy recommits to its EU membership. Eyes now on AU GDP, Canada rate review and NAFTA progress
5th Sep 18, 8:12am
USD rises push the NZD and AUD to multi-year lows. Italy recommits to its EU membership. Eyes now on AU GDP, Canada rate review and NAFTA progress
Patrick Watson of Mauldin Economics probes how and why President Trump could fire Federal Reserve Chairman Jerome Powell
4th Sep 18, 11:53am
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Patrick Watson of Mauldin Economics probes how and why President Trump could fire Federal Reserve Chairman Jerome Powell
NZD is hovering around the 0.66 mark while GBP is the weakest of the majors; Sweden’s krona takes top honours, up 0.8%; AUD has outperformed; NZ rates market showed further downward pressure
4th Sep 18, 7:58am
NZD is hovering around the 0.66 mark while GBP is the weakest of the majors; Sweden’s krona takes top honours, up 0.8%; AUD has outperformed; NZ rates market showed further downward pressure
Safe-haven currencies and the USD outperform, while the AUD hit a fresh low; US equities and the 10-year Treasury rate were little changed; NZD was also on the soft side, NZD/AUD broke up through 0.92 for the first time since the beginning of August
3rd Sep 18, 8:08am
Safe-haven currencies and the USD outperform, while the AUD hit a fresh low; US equities and the 10-year Treasury rate were little changed; NZD was also on the soft side, NZD/AUD broke up through 0.92 for the first time since the beginning of August
NZD is the weakest of the majors, with AUD and CAD underperforming as well; ANZ business outlook survey showed confidence lurching down to a fresh low; global yields are lower
31st Aug 18, 7:51am
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NZD is the weakest of the majors, with AUD and CAD underperforming as well; ANZ business outlook survey showed confidence lurching down to a fresh low; global yields are lower
GBP strengthened after EU chief negotiator Michel Barnier said the EU was prepared to offer a special deal to the UK; AUD is the weakest currency; NZD fell in response to the move lower in the AUD
30th Aug 18, 7:33am
GBP strengthened after EU chief negotiator Michel Barnier said the EU was prepared to offer a special deal to the UK; AUD is the weakest currency; NZD fell in response to the move lower in the AUD
USD was mixed, but the NZD has moved up towards resistance around 0.6725; EUR initially moved up towards resistance near 1.1750, but it has since retraced back towards 1.1700; US Treasury yields moved higher
29th Aug 18, 7:48am
USD was mixed, but the NZD has moved up towards resistance around 0.6725; EUR initially moved up towards resistance near 1.1750, but it has since retraced back towards 1.1700; US Treasury yields moved higher
The US dollar continued where it left off on Friday, weakening across the board overnight, while US Treasury yields were modestly higher; the NZD is up only slightly from Friday’s close
28th Aug 18, 7:59am
The US dollar continued where it left off on Friday, weakening across the board overnight, while US Treasury yields were modestly higher; the NZD is up only slightly from Friday’s close
Markets take Powell's speech as 'dovish' despite asset price risk and labour market tightness comments. Fed sees more hikes to achieve 'neutral' rate position
27th Aug 18, 8:24am
Markets take Powell's speech as 'dovish' despite asset price risk and labour market tightness comments. Fed sees more hikes to achieve 'neutral' rate position
Both the DXY and broader Bloomberg DXY 0.5% lower, in part due to the Powell speech; CNY strength and USD weakness combined to help boost the NZD; AUD was the best performing currency
27th Aug 18, 8:12am
Both the DXY and broader Bloomberg DXY 0.5% lower, in part due to the Powell speech; CNY strength and USD weakness combined to help boost the NZD; AUD was the best performing currency
USD is broadly stronger, recovering some of its losses seen earlier this week; NZD slipped around 30pips to 0.6670; AUD is the weakest of the majors, with political risk overhanging the currency; UST yields are little changed
24th Aug 18, 8:07am
USD is broadly stronger, recovering some of its losses seen earlier this week; NZD slipped around 30pips to 0.6670; AUD is the weakest of the majors, with political risk overhanging the currency; UST yields are little changed
The NZD has spent the last 24 hours hovering around 0.6700, while US equities and bond markets show little movement; USD is down just 0.1% for the day; NZDAUD shifted up to a higher plane after the retail sales data
23rd Aug 18, 7:43am
The NZD has spent the last 24 hours hovering around 0.6700, while US equities and bond markets show little movement; USD is down just 0.1% for the day; NZDAUD shifted up to a higher plane after the retail sales data
NZD is touching 0.67 amidst a weaker USD backdrop; global rates have drifted higher; AUD rose up through 0.7380 but has slightly underperformed the NZD; GBP and EUR up about 1%
22nd Aug 18, 7:57am
NZD is touching 0.67 amidst a weaker USD backdrop; global rates have drifted higher; AUD rose up through 0.7380 but has slightly underperformed the NZD; GBP and EUR up about 1%
GBP is near the top of the leaderboard; NZD was in a drift-down mode for much of Monday but ended the day flat at 0.6630 on USD weakness; UST yields have drifted lower and the curve shows a slight flattening bias
21st Aug 18, 7:59am
GBP is near the top of the leaderboard; NZD was in a drift-down mode for much of Monday but ended the day flat at 0.6630 on USD weakness; UST yields have drifted lower and the curve shows a slight flattening bias
USD was the weakest of the majors; US 10-year rate traded in a 3bp range; NZD closed the week on a strong note; CAD’s performance was supported by Canada CPI inflation
20th Aug 18, 8:14am
USD was the weakest of the majors; US 10-year rate traded in a 3bp range; NZD closed the week on a strong note; CAD’s performance was supported by Canada CPI inflation