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Currency

BNZ Daily Markets Wrap and Strategy

NZD NZD/USD continues to break lower, with the 0.8200 level broken on the back of a much more cautious RBNZ. The NZD is 0.6% weaker against the USD this morning, sitting at 0.8175.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: We expect the RBNZ to keep pressure on the NZD today, by reiterating the level is 'unjustified' and keeping the possibility of intervention open. NZD/AUD may find offers if AU unemployment retraces July increases.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: It is a relatively quiet data day with consolidation in currency markets expected. NZD/AUD gains are expected to attract sellers. GBP may find further support from BoE testimony to parliament.

BNZ Daily Markets Wrap and Strategy

NZD The NZD fell in line with its peers against the USD overnight, down 0.6% to 0.8280.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: After a large positive surprise in July the August NAB business confidence seems unlikely to provide further support for AUD. GBP see sustained pressure from industrial and manufacturing production.

BNZ Daily Markets Wrap and Strategy

NZD The NZD benefitted from a mild USD sell-off on Friday, rising 0.2% against the USD to 0.8330.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: The ECB is the focus, with the potential for further liquidity to be added to the global system, supporting currencies with yield. We see this month as too early for such a program, and see risks of a EUR bounce.

BNZ Daily Markets Wrap and Strategy

NZD The NZD slid along with most major currencies as the USD rallied broadly overnight, but took an additional hit from yet another poor dairy auction. NZD/USD is down 0.7% at 0.8320.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Australian Q2 GDP should keep pressure on NZD/AUD today, while attention switches to the global service sector, with general risk perception driven by the Chinese, European, and UK service PMIs.

BNZ Daily Markets Wrap and Strategy

NZD The NZD was the best performing major against the USD last night, though to be honest, it did not take much. NZD/USD is just 0.2% higher at 0.8380.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: The RBA is not expected to change policy, but there are risks for language changes that support AUD. USD should find demand with consensus forecasts that the ISM survey will maintain elevated levels.

BNZ Daily Markets Wrap and Strategy

NZD The NZD slipped along with most of the majors against the USD on Friday, dipping 0.3% to 0.8360. That puts NZD/USD smack in the middle of the 0.8300-0.8420 range it largely kept through late August.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Markets may be looking for a quiet session with the US out for Labor Day. However, NZD will be driven by Q2 terms of trade, and PMIs from China, Europe and the UK will impact other currencies.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: USD will be driven by the second release of US Q2 GDP, and there is the potential for revisions. In Europe, German and Spanish CPI will be watched for signals as to the potential for ECB action next week.

Prospect of continued USD strength keeps Kiwi on the ropes

By Garry Dean (Sales Trader, CMC Markets New Zealand)

ANZ NZ Morning Brief

OUTLOOK CURRENCY: USD will find some support today after the message from Yellen remained unchanged. GBP, JPY, and EUR should remain under pressure. The US Services PMI and German IFO are the main data prints out tonight.

BNZ Daily Markets Wrap and Strategy

NZD The NZD/USD ended the week just below 0.8410.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Currency markets have one focus today and that is the speech by FOMC chair Yellen at 2am Saturday. Markets should continue to reduce risk into this event, but should also watch ECB and BoE speeches.

BNZ Daily Markets Wrap and Strategy

NZD

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Attention will turn to global activity indicators today. HSBC China PMI and NZ data (ANZ job ads, migration, consumer confidence, and card spending), along with flash PMIs in Europe and US will set direction.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: NZD/AUD may get a catalyst to break support from RBA Steven's semi-annual testimony today. Overnight, attention will firmly be on central bankers with BoE minutes and FOMC minutes scrutinised for signals.

BNZ Daily Markets Wrap and Strategy

NZD The NZD/USD traded a tight range on Friday, to end the week only slightly lower, just below 0.8490.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: GBP should gain some support today from comments from BoE Governor Carney, while geopolitics will likely drive global sentiment and the USD. RATES: Local rates are likely to open under downward pressure given global moves on Friday night. REVIEW

BNZ Daily Markets Wrap and Strategy

NZD The NZD was the outperformer amongst the majors overnight, with NZD/USD up 0.4% to 0.8490.

BNZ Daily Markets Wrap and Strategy

NZD The NZD/USD tested 0.8400 yesterday, but has since rebounded to 0.8440, down 0.2% for the day.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Markets will have a keen eye on the Chinese data to confirm positive sentiment, while Q2 GDP for JPY will drive JPY crosses. GBP has downside risks from the July employment report and BoE inflation report.

Currency: Kiwi consolidates

By Garry Dean (Sales Trader, CMC Markets New Zealand)

ANZ NZ Morning Brief

OUTLOOK CURRENCY: EUR is unlikely to find support from German confidence data, with it forecast to decline further. USD holdings will be looking for improvements to the hiring and quit rates in the JOLTs report.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Markets will be relatively quiet today, with little data to note. US FOMC vice chairman Stanley Fischer delivers a speech "The Great Recession: Moving Ahead" in Stockholm, which will be of interest to markets.

Australian equities carry on despite shock of jobs data

By Betty Lam (Sales Trader, CMC Markets) Embracing another session of mixed-bag leads offshore, local shares spent most of the morning swinging between mild gains and losses, before dipping into double-digit red dragged down by the financials which were down by over 0.5% as a sector.

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