Here is a quick snapshot of some key overnight news, views, and data.
What Hu thinks
In written answers by two major US newspapers, China's President Hu called the present U.S. dollar-dominated currency system a "product of the past". He also noted, "We both stand to gain from a sound China - US relationship, and lose from confrontation". President Hu is not a very open politician, choosing to rarely talk in public. This type of answers-to-written-questions is his style.
What Ambrose thinks
EMU policies are pushing Southern Europe into systemic political crisis, even if they can get over the current debt-rollover issues.
What God thinks
"If you want to know what God thinks of money, just look at the people he gave it to."
- Dorothy Parker
more below ...
| 7 am | --- 52 week -- | |||||||
| Today | yesterday | high | low | |||||
| -------- | -------- | --------- | --------- | |||||
| FX rates | NZ$1=US$ | 0.7731 | 0.7667 | 0.7964 | 0.6584 | |||
| NZ$1=AU$ | 0.7778 | 0.7754 | 0.8212 | 0.7408 | ||||
| Gold | in US$ | 1,361 | 1,367 | 1,421 | 1,058 | |||
| in NZ$ | 1,760 | 1,783 | 1,877 | 1,507 | ||||
| Copper | in US$ | 9,651 | 9,591 | 9,754 | 6,091 | |||
| in NZ$ | 12,484 | 12,503 | 12,811 | 8,951 | ||||
| Crude oil | in US$/bl | 90.94 | 91.66 | 91.91 | 70.15 | |||
| in NZ$ | 117.63 | 119.55 | 121.36 | 101.30 | ||||
| US Treasuries | 30 yr bond | 4.53% | 4.53% | 4.78% | 3.61% | |||
| Dow | DJIA 30 | 11,761 | 11,787 | 11,787 | 9,614 | |||
Ignored or understood?
Fifty years ago today, the retiring US president Eisenhower (a top WWII General) warned about a rising "military-industrial complex," which he described as "a permanent armaments industry of vast proportions" with the potential to acquire - whether sought or unsought - "unwarranted influence" in the halls of government.
Inflationary surge
The Australian floods are set to cause a surge in their inflation. We may be collateral damage. And the RBA may be raising their rates soon.
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10 Comments
Just Asking?.....
Given our close association with Oz , and given its our biggest trading partner and the underwriter of our entire Banking system , how come we are able to keep interest rates so low , while theirs keep rising ?
Is Dr Bollard leaning into the wind to keep rates low , and for how long can he do this ?
Brash....... but that would have been a tad awkward...especially since it was the Nat's new vanguard that nobbled him in the first place...... that aside any half baked book-keeper that knew how to follow instruction and keep it shut when required.....dovish..? my ass...squeak.
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