OUTLOOK

OUTLOOK CURRENCY: The RBA decision will decide NZD direction this afternoon. Later the global dairy trade auction result should support NZD overnight, although risks are for weakness due to position reduction ahead of the US election.

OUTLOOK

The NZD/USD was the strongest performer over the past 24-hours. It was boosted by solid risk appetite overnight to trade at 0.8270 currently.

NZD The NZD/USD continues to ping around inside the familiar 0.8145-0.8245 range. The currency is now creeping towards the top end of this range as the rising chance of an Obama victory in next week’s US Presidential elections weighs on the USD.

NZD The NZD has started the week on the back foot. Investors lost some of their risk appetite overnight, knocking the NZD/USD from above 0.8200 to around 0.8185.

NZD Despite a couple of attempts to break lower, the NZD/USD couldn’t resist the gravitational pull of the 0.8145-0.8240 range last week. A modest bounce on Friday night means the NZD/USD starts the week near the top end of this range.

OUTLOOK CURRENCY: Expect a very quiet start to the week with no obvious catalyst to change current levels. A conference between Spain and Italy may produce some headlines overnight, but any impact will be confined to the EUR.

OUTLOOK CURRENCY: NZD fortunes will be tied to the RBNZ Governor’s 9am speech. Overnight US Q3 GDP will drive sentiment with expectations of 1.9% growth. Risks are skewed negative for both.

NZD Demand for the NZD was underpinned by a solid Chinese PMI outcome and a stabilisation in risk appetite overnight. The NZD/USD has crept up to 0.8170.

NZD The NZD underperformed last week. With NZ inflation slipping to 13-year lows, markets priced in a higher chance of an RBNZ rate cut. As a result, yield support for the NZD crumbled and momentum factors flipped to the downside.

OUTLOOK CURRENCY: NZD and risk were sought in an optimistic night on better US housing data and good corporate results. Comments by the Chinese Premier describing China’s Q3 situation as "relatively good" also helped.

OUTLOOK CURRENCY: Today’s local session should not be so favourable for the NZD. It will remain caught in the downdraft of global gloominess that appears to pervade current sentiment. Support levels should be investigated. RATES: NZ yields are expected to open down slightly.

NZD The NZD subsided in the early hours of Saturday morning to finish the week around 0.8170.

In the end the NZD is little changed overnight, trading either side of the US 82cent level. Our flows again show some paring of holdings by macro and trading accounts with appetite from domestic, commercial names providing support.

OUTLOOK CURRENCY: Having had a rough week the NZD is unlikely to suffer too much during the local session today. Tonight’s US September employment data will keep the market wary of deeper tests of support at this point.

The Waikato Innovation Park Board of Directors announced today that its CEO, Derek Fairweather, has stepped down to take on the CEO role of Dairy SolutioNZ. Stuart Gordon has been appointed to the role of interim Waikato Innovation Park CEO.

NZD The NZD has underperformed over the past 24 hours. The NZD/USD is around ¾ of a cent below yesterday’s 0.8270 levels. NZD/AUD has also given up some of its recent gains, slipping from 0.8060 to 0.8020.

NZD It’s been a night of déjà vu for the NZD/USD, testing 0.8330, before again slipping back to support around 0.8270/80. The bigger story has been in NZD/AUD, which is trading at one year highs around 0.8060 following yesterday’s RBA meeting.

NZD The NZD has held up remarkably well overnight in the face of a plunge in global risk appetite. The NZD/USD has crept slightly higher to sit at 0.8240.

OUTLOOK CURRENCY: NZ GDP was the only indicator that could be called strong yesterday, and the continued global slowdown boosted USD, depressing most currencies. The best that can be said of activity indicators is: improving but still negative, leaving NZD the standout on cross.

NZD Squinting your eyes through a bit of overnight volatility reveals the NZD holding on a slow and steady path higher. Still, it’s been a relatively quiet 24 hours in markets all things considered. Indicative of such, the NZD/USD has traded inside a narrow 0.8260-0.8295 range.

NZD After marching higher last week, the NZD has started this week on the back-foot.

NZD The NZD/USD was the strongest performing key currency over the past 24-hours, now sitting just above 0.8300.

NZD The NZD/USD is only marginally higher this morning at 0.8200, though it surged to almost 0.8240 last evening after a positive ruling from the German Court (see Majors).

OUTLOOK CURRENCY: Market participants are nervous that Bollard will give the NZD a parting blow. We believe the RBNZ passes without impact, leaving the NZD in demand, until the FOMC, where risks are towards USD strength.

NZD A double-dose of positive news on the global economy lit a rocket under the NZD on Friday. The NZD/USD soared around a cent to 0.8120, reversing all of the previous fortnight’s declines.

OUTLOOK

NZD Waves of relief cascaded across global markets overnight in the wake of encouraging US data and the announcement of the ECB’s new bond buying scheme. In tandem with the more upbeat global sentiment the NZD/USD has soared back above 0.8000.

OUTLOOK CURRENCY: Two important directional indicators before Monday. The first is US non-farm payrolls expected at +130k but expectations are likely stronger given ADP numbers. Sunday sees the monthly data dump from China in which strength or weakness will translate to AUD and NZD.