NZD The NZD was little changed ahead of the FOMC meeting this morning, but has dropped sharply following that release.
OUTLOOK CURRENCY: NZ Q4 current account shouldn’t change the picture of domestic strength, while global markets await tomorrow’s FOMC meeting. The UK Budget and employment report will also be a currency market focus.
NZD The NZD has been the main beneficiary from a risk rally stemming from Russia’s indication that it does not intend on claiming further territory in Ukraine (see Majors).
By Garry Dean (Sales Trader, CMC Markets New Zealand)
NZD The NZD was a touch softer on Friday, as muted risk sentiment pervaded. The NZD/USD ended the week at 0.8530.
OUTLOOK CURRENCY: The markets will remain uncertain as they digest the diplomatic response to the Crimean referendum result to join Russia. We also have to watch for RMB weakness spilling over, as China widens the trading band.
OUTLOOK CURRENCY: There is little new fundamental data today. NZ Business PMI shouldn’t impact NZD this morning with Chinese and Ukraine sentiment expected to dominate the session, implying further NZD gains will be difficult.
NZD The NZD/USD sits above 0.8480 this morning as the market awaits the RBNZ’s meeting today. In the absence of key data releases over the past 24-hours the NZD has traded a path between 0.8440 and 0.8490, sitting toward the upper end of this range at present.
NZD The NZD has maintained a fairly tight range over the past 24-hours, sitting just below 0.8470 currently.
OUTLOOK CURRENCY: NZ data (REINZ, card spending and ANZ Truckometer) should not impact NZD today, but Australian Business confidence and conditions should arrest the climb in NZD/AUD, also keep an eye on the BOJ and PBOC.
OUTLOOK CURRENCY: There is little to directly impact the currency today and the Asian session should be dominated by weaker Chinese data and evidence of some escalation in Ukraine. RATES: Expect NZ rates to be biased higher following global moves. REVIEW
NZD The NZD has surged higher overnight, riding a wave of positive risk sentiment and benefitting from a positive AUD story (see Majors).
OUTLOOK CURRENCY: RBA Governor Stevens testifies to the House Economic Committee today and is likely to remain cautious on AUD prospects. Expectations for US payrolls are weak, so positive surprises are possible. RATES: Expect NZ rates to be biased higher following global moves.
NZD The NZD/USD made steady gains overnight, hand-in-hand with the AUD/USD, and sits 0.65% higher since yesterday morning at 0.8430.
Wellington investment company Rangatira today announced that its chief executive, Ian Frame, has decided to retire at the end of June this year.
OUTLOOK CURRENCY: Back to fundamental data with updates from global service sector PMIs today from China, UK, Europe and the US driving sentiment. China releasing its 2014 GDP target and Budget will set the tone for risk.
OUTLOOK CURRENCY: We expect little market moving from the RBA today and expect Asia to focus on Ukraine. Overnight the US Senate Banking Committee hears from FOMC nominees, including Vice-Chair designate Stanley Fischer.
NZD The NZD was far and away the strongest performing major currency against the USD over Thursday, up 0.8% to 0.8380.
NZD The NZD is weaker this morning, following positive US data released overnight (see Majors).
OUTLOOK CURRENCY: January trade and migration data will drive NZD direction today, while Australia's Q4 CAPEX report is likely to convey a weaker outlook. Fed Chair Yellen testifies to the Senate Banking Committee tonight.
NZD The NZD/USD was one of the top performing major currencies overnight, up 0.6% to around 0.8340.
NZD The NZD is essentially unchanged from Friday morning around 0.8280.
NZD The NZD begins this morning unchanged from where it was 24-hours ago, just above the 0.8300 level.
OUTLOOK CURRENCY: Real activity will be the focus today, with NZ ANZ consumer confidence, China’s flash manufacturing PMI, European advance PMIs, and US preliminary PMI and Philadelphia Fed.
NZD The NZD was the weakest performing currency over the past 24-hours, down 0.7% against the USD.
NZD The NZD/USD is effectively unchanged from its closing level on Friday of 0.8360, after drifting lower through the overnight session.
OUTLOOK CURRENCY: The release of Q4 retail sales this morning should show the NZ expansion is broader based, providing continued domestic support for NZD.
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