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NZ Morning Focus

HIGHLIGHTS - The US Q2 employment cost index (ECI) recorded its slowest quarterly pace of growth in three decades. This drove USD weakness and a solid rally in US Treasuries.

NZ Morning Focus

HIGHLIGHTS - The USD advanced as markets continued to digest the post-meeting FOMC statement. - Headline Q2 US GDP data disappointed expectations, but underlying details were better and Q1 GDP growth was also revised higher.

NZ Morning Focus

HIGHLIGHTS - RBNZ is expected to cut 25bps today. - Equities remained under pressure on the back of disappointing earnings results. - Oil prices came under renewed pressure, with WTI crude oil trading back below USD50bbl, following an unexpected rise in inventories.

NZ Morning Focus

HIGHLIGHTS - Greek banks reopen and the Greek government make repayments to IMF and ECB. - St. Louis Fed President Bullard stated that there is better than a 50% chance that the Fed will hike rates in September.

NZ Morning Focus

HIGHLIGHTS - Markets finished on a quiet note, capping an otherwise eventful week of central bank speak and Greece coming to terms with its creditors. - US housing market data remained solid, while CPI data was in line.

NZ Morning Focus

HIGHLIGHTS - US and European equity markets were buoyed through the London session, following the bounce back in Chinese stocks. - It was a positive session for commodities, with oil, base metals and iron ore paring recent losses.

NZ Morning Focus

HIGHLIGHTS - US Treasury and euro area sovereign bond yields fall sharply across the curve and the USD strengthened through the London session. - Tsipras delays presenting Greece's economic proposals until tomorrow.

NZ Morning Focus

HIGHLIGHTS - Early results suggest Greece has voted "No" at its critical weekend referendum. With 60% of the vote counted, the No vote stands at 61.3%. - Oil prices continued to slide after data showed that the number of US oil rigs rose for the first time in seven months.

NZ Morning Focus

HIGHLIGHTS - The USD retreated further during the London session as markets continued to digest the FOMC policy statement. - US CPI data disappointed expectations, but manufacturing and labour market data struck a more positive tone.

NZ Morning Focus

HIGHLIGHTS - US University of Michigan provisional consumer confidence for June rebounded strongly to 94.6 vs 90.7. - There were plenty of Greek headlines over the weekend, with a deal still no closer to being reached it appears.

NZ Morning Focus

HIGHLIGHTS - US May retail sales rose 1.2% m/m and control group sales rose a stronger than expected 0.7% m/m.

NZ Morning Focus

HIGHLIGHTS - French industrial production fell 0.9% m/m in April and the underlying tone to the manufacturing data was weak. - It was reported that Germany may consider a staggered approach to Greek reforms/aid. - RBNZ June MPS at 9am today. ANZ expects a 25bp cut.

NZ Morning Focus

HIGHLIGHTS - The euro and fixed income markets retraced some lost ground following last week's stronger than expected payrolls report in the US. - US President Obama says the global economy is still not at its full potential, with the G7 focused on jobs to spur growth.

NZ Morning Focus

HIGHLIGHTS - US nonfarm payrolls rose 280k and average earnings rose 2.3% y/y, their highest rate since August 2013. - Greek PM Tsipras said that the proposals currently with Greece are not the basis for a deal.

NZ Morning Focus

HIGHLIGHTS - Optimism continued to grow that Greece and its creditors will reach an agreement. This, plus a modest upward tweak to the ECB's inflation forecast, saw the euro rally and bund yields rise sharply.

NZ Morning Focus

HIGHLIGHTS - The NZD weakened sharply against the USD, touching a new trading cycle low on the back of further USD strength and the "discovery" of a research article from the RBNZ on why inflation has been so low.

NZ Morning Focus

HIGHLIGHTS - It was a whippy session for EUR/USD as markets reacted to competing headlines on Greek debt negotiations - Fonterra's opening forecast for 2015/16 remains the focus (expected this morning) with markets primed for negative news.

NZ Morning Focus

HIGHLIGHTS - Fed Vice Chairman Fischer: "If the (U.S.) economy is growing very, very slowly we will wait. If the economy is growing faster we will do it quicker". Otherwise a quiet night with the key US and UK markets closed.

NZ Morning Focus

HIGHLIGHTS - It was a busy night for data, but the price action in markets was muted as the UK, US and much of Europe wound down for the forthcoming bank holiday weekend. - Generally, data overnight came in on the weaker side of expectations.

NZ Morning Focus

HIGHLIGHTS - NZ Government Budget today. We expect a business as usual affair. - A relatively quiet session ahead of the FOMC Minutes, which subsequently showed "many" on the committee thought a June hike was "unlikely".

NZ Morning Focus

HIGHLIGHTS - The euro remained under pressure after comments from ECB Executive Board member Cœuré who flagged the prospect that the ECB may "frontload" its asset purchases ahead of lower liquidity over summer.

NZ Morning Focus

HIGHLIGHTS - Bond markets regained their poise following an early, sharp sell-off. - Dudley says he doesn’t know when the Fed will raise rates but it shouldn’t be a big surprise when it happens. - The AUD responded positively to the budget. OUTLOOK

Rotax Challenge series roars back into action

Daniel Bray (#62 DD2). Pic: Fast Company/Graham Hughes. Daniel Bray (#62 DD2). Pic: Fast Company/Graham Hughes. Daniel Bray (#62 DD2). Pic: Fast Company/Graham Hughes. The Logitech New Zealand Rotax Max Challenge roars back into action in Tokoroa this weekend.

NZ Morning Focus

HIGHLIGHTS - There was an aggressive selloff in fixed income markets overnight. - The US ISM non-manufacturing survey was stronger-than-expected. - GlobalDairyTrade registered another decline, led by skim milk powder.

NZ Morning Focus

HIGHLIGHTS - Bond yields and stock markets rise; London markets are closed. - US and European data mildly beats expectations.

NZ Morning Focus

HIGHLIGHTS - Another tough session for fixed income markets as sovereign bonds extended yesterday's sell off. - US initial jobless claims and wages data were stronger than expected.

NZ Morning Focus

HIGHLIGHTS - US and European equity markets were buoyed following the decision by the PBoC to reduce the reserve requirement ratio (RRR) by 100bps. - The AUD weakened following comments from RBA Governor Stevens.

NZ Morning Focus

HIGHLIGHTS - Oil prices declined sharply following a sharp rise in US inventories. - NZD and AUD outperformed in a mixed session for FX markets. - FOMC minutes reveal divide over June as a possible start date for rate rises.

NZ Morning Focus

HIGHLIGHTS - March US non-farm payrolls were considerably weaker than expected. - The NZD/AUD came within a whisker of parity.

NZ Morning Focus

HIGHLIGHTS - Another very poor GlobalDairyTrade auction result but the NZD was supported by US developments. - US employment and manufacturing data undershot market expectations. - Iron ore prices punched through USD50 per tonne.

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