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ANZ NZ Morning Brief

OUTLOOK

BNZ Daily Markets Wrap and Strategy

NZD The NZD/USD has traded a 0.8370-0.8430 range over the past 24-hours, returning to trade at 0.8400 currently.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Higher Australian unemployment could cause AUD weakness on cross if it follows ANZ Job Ads lead. ANZ Consumer Confidence will provide direction on consumer sentiment. The Philadelphia Fed is expected to keep optimism in check, reinforcing recent ranges.

BNZ Daily Markets Wrap and Strategy

NZD The NZD was the strongest performer of its peers over the past 24-hours.

BNZ Daily Markets Wrap and Strategy

NZD The NZD was unable to maintain upward momentum on Friday, returning to trade around 0.8370 currently.

BNZ Daily Markets Wrap and Strategy

NZD It’s been onwards and upwards for the NZD over the past 24 hours. The NZD/USD has climbed from 0.8380 to almost 0.8450, reflecting a trifecta of supportive factors.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: NZD and AUD have to overcome significant topside resistance from here and today a high Chinese CPI would reinforce resistance. However, economic optimism is likely to be confirmed tonight by the US trade balance, Wells Fargo Q4 earnings and 2 hawkish Fed speakers.

ANZ NZ Morning Brief

OUTLOOK

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Australian November trade balance is unlikely to add excitement today. However, the trade surplus in Germany and deficit in France out tonight may again highlight the divergences evident in Europe.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Direction over the year end period now depends on the US fiscal negotiations, until the New Year PMI releases. Due to the lack of progress we remain cautious NZD, despite positive global sentiment. RATES: Kiwi rates are expected to open unchanged. REVIEW

BNZ Daily Markets Wrap and Strategy

NZD The NZD/USD has continued to drift a little lower despite solid global risk appetite overnight. The NZD/USD sits around 0.8370 this morning.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: News that the Republicans have made concessions on taxes for the wealthy should see risk remain elevated, at least until the denials are issued. Yen should also remain week after LDP wins a majority and has potential in coalition for a super-majority.

BMW wins four out of 11 vehicle class and safety awards

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.

Strong dollar lowers wool prices

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.

ANZ NZ Morning Brief

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

ANZ NZ Morning Brief

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.

BNZ Daily Markets Wrap and Strategy

NZD

RBNZ keeps OCR firmly on hold - ASB

Growth outlook

RBNZ leaves OCR at 2.5%, reiterates 'on hold' stance

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:

BNZ Daily Markets Wrap and Strategy

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

ANZ NZ Morning Brief

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.

BNZ Daily Markets Wrap and Strategy

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

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Activity in the service sectors of the economy will be in focus with tonight’s Europe and US releases. Closer to home Australian Q3 GDP is expected to print +0.6%, confirming support for the AUD and hence NZD.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Price action is telling us that declines in AUD and NZD will meet fierce resistance, but data isn’t pointing towards an easy road higher either. For now we are cautious, but following price action.

BNZ Daily Markets Wrap and Strategy

NZD

ANZ NZ Morning Brief

OUTLOOK

ANZ NZ Morning Brief

OUTLOOK CURRENCY: There is little to force NZD out of recent ranges today ahead of next week’s crammed data calendar. It is worth noting Chinese manufacturing PMI on Saturday, which could cause some volatility for the Monday open.

ANZ NZ Morning Brief

OUTLOOK

BNZ Daily Markets Wrap and Strategy

NZD The NZD declined relative to most of its peers over the past 24-hours. The NZD/USD currently sits at 0.8130.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: We wait for the results of the Greek summit, which has the potential to boost risk this morning. Overnight the US Markit flash PMI will give us a lead into whether US data will continue to support NZD. RATES: Expect NZ yields to open broadly unchanged.

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