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RBNZ's McDermott expected to provide colour ahead of OCR review; Expectations...
By Kymberly MartinCurrency markets continue to search for a lasting sentiment, one they can hang their hat on for more than a session or a day, one that doesn’t see traders lose a shirt as they chase...
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RBNZ's McDermott changes expectations, moves markets; international data...
By Kymberly MartinGame changing commentary from McDermott yesterday, the response has been a NZ$ under pressure and losing ground on cross rates in the subsequent sessions.As we delved into the speech,...
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Greek debt deal closer as PM relieves Finance Minister from negotiation...
By Raiko ShareefThe defining piece of economic news over the local long weekend was a very soft US business investment report on Friday, which saw the USD knocked back across the board.Overnight, Greek...
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Recent US data affected by 'poor' durable goods numbers. No surprises...
By Raiko ShareefUS interest rates fell sharply on Friday on poor business investment numbers, but recovered somewhat overnight.Local markets were closed yesterday for the Monday-ised ANZAC holiday.The...
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Rises come despite poor US data. NZ rates drift. Aussie rates also gained...
By Raiko ShareefUS interest rates rose sharply overnight, despite continued weakness in US data.Local interest rates ignored the gains made across the Tasman, and instead drifted sideways ahead of...
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Iron ore prices in healthy bounce and China planning more liquidity measures...
By Raiko ShareefThe USD is sharply weaker this morning, with EUR once more testing 1.10 and AUD posting a near 2.0% gain to sit above 0.80.Softness US consumer confidence helped, but the move was...
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Interest rates rise everywhere except here as RBNZ views awaited. Bond...
By Raiko ShareefGlobal interest rates continued to rise overnight, with US Treasury yields adding to gains despite the very weak Q1 GDP report.Local markets tried, but failed, to reflect those gains...
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US GDP has a big miss. NZD fails to break higher, All eyes on RBNZ
By Raiko ShareefThe big miss in the US GDP report saw recent USD weakness, in large part via EUR, which surged above 1.10.The FOMC statement had little real impact, leaving the Bloomberg Dollar Spot...
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NZD recovering from post RBNZ losses; AUD leaking lower, many analysts...
By Raiko ShareefThe USD attempted to regain some composure overnight, keying off a softer JPY and AUD. But the relentless upward pressure in EUR has stifled a broad-based USD recovery.NZD has taken...
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New Zealand 2-10 curve suddenly at its steepest since December 2014 and it...
By Kymberly MartinCurve steepening was the main theme in NZ rates markets yesterday.Overnight, US 10-year yields pushed up from 2.02% to 2.07%.Yesterday’s NZ curve steepening resulted from opposing...
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Markets bet on an RBA rate cut. Yields on long rates rise in most majors...
By Kymberly MartinIt was a quiet end to the week in the NZ market with further curve steepening the main theme. On Friday night, US 10-year yields pushed up to 2.11%NZ 2-year swap ended the week at...
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USD gains ground on good data and upbeat Fed comments. Data will drive...
By Raiko ShareefFriday saw the USD regain some ground, with quite sharp gains against GBP and NZD.The Fed’s Williams and Mester, the first speakers out the gate following Wednesday’s FOMC decision,...
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High expectation of an RBA rate cut today. UST 10yr yields creep ever higher....
By Kymberly MartinNZ swaps closed up approximately 1 bps across the curve yesterday.After choppy trading overnight, US 10-year yields now sit at 2.13%.There was little on the domestic agenda to drive...
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A dearth of market-moving data shifts focus back to Greece - and the RBA's...
By Raiko ShareefMarkets were largely in a holding pattern overnight, amid a relative dearth of market-moving data, and ahead of more important events later in the week.Major currencies have generally...
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Australia cuts but markets see much less need for further easing. Bond yields...
By Kymberly MartinNZ swaps closed up 1-2 bps across the curve.Overnight, US 10-year yields pushed up to 2.19%.In a day of little NZ data flow NZ swaps drifted a bit higher across the curve. The 2-10s...
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The unexpectedly large US trade deficit may be down to special factors, but...
By Raiko ShareefThe USD was knocked back rather sharply overnight, as investors mulled whether the FOMC would hike rates in light of a now-likely economic contraction in Q1.AUD outperformed, on...
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Rate yields in volatile moves with NZ 2-10 curve up to +51 bps. US and AU...
By Kymberly MartinThere was a stark further steepening of the NZ swap curve yesterday.Overnight, US 10-year yields pushed up from 2.18% to 2.24%.It was a particularly volatile day in NZ swaps...
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NZD falls; investors are not waiting around to find out what the RBNZ's new...
By Raiko ShareefThe USD fell to a fresh three-month low, after a disappointing ADP employment report further discouraged USD bulls, ahead of Friday’s official employment reports.NZD is the only G10...
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US 10-year yields spike following oil price higher but then pull back. NZ...
By Kymberly MartinSteepening of the NZ curve continued yesterday.Overnight, US 10-year yields spiked above 2.30% before declining to trade at 2.19%.NZ swaps pushed higher from the open following the...
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US labour market data more important than usual, UK election uncertainty,...
By Raiko ShareefCurrency markets saw a modest reversal of the past week’s relentless USD selling, ahead of the US employment report tonight.GBP is experiencing whippy trading, even before the first...
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