Last night the Automobile Association and New Zealand Motoring Writers’ Guild announced BMW the winner of four out of 11 vehicle class and safety awards.

New Zealand Wool Services International Limited’s Marketing Executive, Mr Paul Steel reports that the 7,800 bales of North Island wool on offer this week saw a 92 percent clearance with a firm market for the finer Crossbred wools and lower levels for the Coarser sector.

OUTLOOK CURRENCY: We are likely to consolidate on FOMC-induced gains this morning with little else in the way of data to change trends.

OUTLOOK CURRENCY: The market is unlikely to take its lead from the positive China news and instead will focus on Italian political instability and lack of "fiscal cliff" progress. We expect resistances to be too hard to overcome this week.

NZD

Growth outlook

By Dominick Stephens Chief Economist, Westpac The Reserve Bank kept the official cash rate unchanged and firmly reiterated its "on hold" bias for monetary policy with a simple bottom-line sentence:

NZD The NZD/USD has traded with very little pulse over the past 24-hours, to sit just below 0.8260 at present.

OUTLOOK CURRENCY: We expect a straight bat from the RBNZ this morning with little to move the NZD. Australian employment later in the day could see NZD outperform AUD should a surprise occur.

NZD The NZD/USD has traded a little higher to sit around 0.8240 this morning.