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Rethink on US fiscal stimulus indicates a cautious end to a cautious week

By Ric Spooner (Chief Market Analyst, CMC Markets)

International markets adjusted to more moderate expectations on the timing of US fiscal stimulus overnight. Local markets look likely to follow suit with a cautious opening driven by lower base metal prices.

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NZ Morning Focus

HIGHLIGHTS

- BoE surprised by keeping rates on hold, but most of the Committee expect easing at the4 August meeting.

- RBNZ gets some currency follow through, but where to from here?

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