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Currency

ANZ NZ Morning Brief

OUTLOOK CURRENCY: There is little information to impact markets today so we expect a continuation of recent muted ranges. Australian consumer confidence could add to the body of evidence that suggest the economy is basing.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Strength from Chinese exports will need to be priced this morning and should support NZD and AUD. It is hard to see why the NZD would decline ahead of the RBNZ Thursday. RATES: Expect NZ interest rates to open unchanged to a touch lower. REVIEW

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Focus tonight will be US payrolls. Consensus forecast are for 185k and with ADP and jobless strength markets will likely be disappointed by any miss, sending NZD/USD higher. RATES: Expect NZ interest rates to open higher in line with offshore moves.

BNZ Daily Markets Wrap and Strategy

NZD The NZD/USD was dragged lower by the AUD yesterday, but stabilised overnight to sit around 0.8180 currently.

ANZ NZ Morning Brief

OUTLOOK

ANZ NZ Morning Brief

OUTLOOK CURRENCY: The currency markets will focus on PMI activity today, with November releases from Europe, UK and the US to complement those from Asia. The US ISM will drive the USD and hence the currency today.

BNZ Daily Markets Wrap and Strategy

NZD The NZD has slipped to the bottom of the currency performance rankings over the past 24 hours. Having recovered back to almost 0.8180 yesterday, the NZD/USD was slammed back below 0.8130 overnight.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Another muted day is expected on currency markets as we await the plethora of pivotal global economic releases next week. RATES: Kiwi rates are likely to open unchanged given the lack of movement in Aussie bond futures and minimal change in US bond yields.

BNZ Daily Markets Wrap and Strategy

NZD At around 0.8190, the NZD/USD is not far from where it sat this time yesterday. But that masks a full 1 cent range over the past 24 hours.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Jobless claims and the Chicago PM survey will be the primary focus giving the final lead indicators to Novembers ISM and payrolls surveys. Strength from the NZ export sector is assumed for today’s trade data.

BNZ Daily Markets Wrap and Strategy

NZD The NZD/USD barely budged overnight, despite most G10 currencies feeling the pinch of a broad-based strengthening in the greenback. It opens this morning around 0.8190.

BNZ Daily Markets Wrap and Strategy

NZD From highs of almost 0.8400 on Wednesday, the NZD/USD is back flirting with important support levels around 0.8200 this morning. Unlike Thursday’s taper speculation-driven losses, the ½ cent overnight sell-off in the kiwi was more about following the AUD lower.

BNZ Daily Markets Wrap and Strategy

NZD

ANZ NZ Morning Brief

OUTLOOK CURRENCY: A USD focus today - Bernanke is speaking on communication and monetary policy at 1pm NZT, US retail sales and FOMC minutes will also be a focus, with markets positioned and expecting cautious outcomes.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: The market starts the week with continued demand for NZD as we digest the full extent of the Chinese Plenum releases. We would also expect the NZ Performance of Services Index to remain strong in October.

BNZ Daily Markets Wrap and Strategy

NZD After relatively range-bound trading on Friday, the NZD/USD gained momentum on Friday night as the USD weakened. The NZD/USD closed the week above 0.8330.

BNZ Daily Markets Wrap and Strategy

NZD

ANZ NZ Morning Brief

OUTLOOK CURRENCY: The market will be focused on the Yellen confirmation tonight, but it seems unlikely we’ll get anything radical from someone trying to win over both sides. NZ data should remain supportive NZD. RATES: Kiwi rates are expected to open lower. REVIEW

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Headlines resulting from the RBNZ Financial Stability Report could be NZD supportive. Overnight, UK unemployment will square off against the BOE Inflation Report leading to risks of GBP weakness. RATES: Kiwi rates are expected to open broadly unchanged.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Australian business conditions and confidence today need to improve to support AUD, whilst US small business optimism is the best of a quiet set of overnight indicators.

BNZ Daily Markets Wrap and Strategy

NZD The NZD was the strongest performing currency last week. Actually, the more appropriate title might be ‘least worst’ performing, as the headwinds from a broad strengthening in the greenback knocked all of the major currencies lower.

BNZ Daily Markets Wrap and Strategy

NZD After sleeping through most of this week, currency markets received a rude awakening from central banks overnight. The ECB cut rates, the Czech National Bank intervened aggressively, and a very positive US GDP outturn added to the volatile mix (see Majors).

ANZ NZ Morning Brief

OUTLOOK CURRENCY: The surprise ECB interest rate cut and positive US Q3 advance GDP release should continue to weigh on the fortunes of NZD and AUD throughout today’s trading session. RATES: Expect NZ rates to open lower in line with global yields. REVIEW

ANZ NZ Morning Brief

OUTLOOK CURRENCY: The focus shifts across the Tasman today as markets await the Australian October employment release. Any positive surprise here would see the NZD follow on the coattails of the AUD.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: The NZ employment report will be the early focus, with strength the consensus, thus limited NZD upside. European services PMI tonight are expected to show a fragile but firming European recovery supporting EUR.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: The RBA this afternoon will drive AUD and NZD. Markets are expecting the RBA to remain concerned over AUD strength. Overnight UK and US services activity will drive the fortunes of the GBP and USD.

BNZ Daily Markets Wrap and Strategy

NZD The NZ dollar staged a striking bounce-back through the latter stages of Friday’s trading session, having been sold down to almost 0.8210 earlier in the night. It opens this morning around 0.8265.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Australian retail sales will be the driver for the Asian currency session, with Europe’s manufacturing PMI release the driver for Europe. US factory orders will drive USD sentiment in the US session.

BNZ Daily Markets Wrap and Strategy

NZD

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Global manufacturing activity will set the direction with China, UK and the US all reporting. The US ISM will be the key for currencies as long as there are no overly large negative surprises from China and the UK.

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