HIGHLIGHTS - FOMC drops "patient", but projections are all softer, "dot plot" lowered. - Soft UK labour market report spurs sharp decline in GBP/USD.
HIGHLIGHTS - The USD retreated from 12-year highs on profit taking and weaker US dataflow. - WTI crude oil prices fell to new six year lows.
HIGHLIGHTS - Euro area sovereign bonds continued to rally and curves flattened further on the back of the ECB’s quantitative easing (QE) programme. - The USD continued to strengthen, dragging EUR/USD to its lowest level since 2003 and AUD/USD to fresh cyclical lows.
HIGHLIGHTS - Global dairy prices consolidate after recent strong gains in February. - European and US data solid, but inflation pressures remain absent. OUTLOOK
HIGHLIGHTS - Bumper UK labour market report boosts sterling, but US data disappoints. - Commodity currencies ease on the back of lower oil and base metal prices. - Greece to request a formal extension to its current bailout package tomorrow.
NZD The NZD/USD has traded lower overnight to sit around 0.7380 at present.
NZD The NZD/USD has strengthened overnight to trade at 0.7420 this morning.
NZD NZD was shunted lower by strong US employment numbers on Friday night. NZD/USD closed 0.4% lower at 0.7360. It sits at 0.7340 this morning, after a poor set of Chinese trade numbers over the weekend.
NZD NZD/USD sits at similar levels to yesterday morning, just 0.1% higher at 0.7370. But that characterisation disguises significant volatility in the wake of RBNZ Governor Wheeler’s speech yesterday.
NZD NZD/USD broke above 0.74 earlier this morning, but has since cooled its heels. It sits 0.8% higher at 0.7370 on a broader USD sell-off as well as a bumper dairy auction (in that order of importance).
NZD NZD finished Friday very little changed from where it opened, sitting mid-pack amongst winners and losers against the USD. NZD/USD closed 0.1% lower at 0.7260.
NZD NZD/USD looks positively sick this morning, at 0.7240. While not at the bottom of the Bloomberg daily currency rankings (which are taken from NY close to NY close), it is a cool 3.0% lower that when we published yesterday’s edition of this note.
NZD The NZD trails at the low end of the G10 leader-board against the USD, currently 0.5% lower at 0.7420. Earlier this morning, NZD/USD flirted with the 0.7400 level.
HIGHLIGHTS - Reverberations following the announcement of the ECB's quantitative easing programme continued, with sovereign bond yields falling sharply and EUR/USD plunging to new lows on Friday.
NZD The NZD dropped along with its G10 peers against the USD on Friday, closing 0.7% lower at 0.7450. In particular, NZD fell in sympathy with a much sharper drop in the AUD.
HIGHLIGHTS - The ECB announced combined asset purchases of EUR60bn per month until September 2016, but possibly longer if inflation continues to undershoot the ECB's slightly less than 2% target.
HIGHLIGHTS - Various reports and rumours over the potential size and composition of the ECB's QE programme drove a volatile session for EUR/USD. - The Bank of Canada surprises markets with a 25bp rate cut.
NZD The NZD/USD has been one of the weakest performing currencies over the past 24-hours. It trades around 0.7690 this morning.
HIGHLIGHTS - The euro remains under pressure ahead of this week's ECB meeting and continued downward pressure on EUR/CHF from last week's events.
NZD After dipping as low as 0.7750 at the end of last week, the NZD/USD clawed its way a little higher. From the start of the week it has traded a relatively tight range, sitting around 0.7780 currently.
HIGHLIGHTS - US consumer confidence surges to 11-year high, but CPI data slightly softer than expected. - FX dramas subside, but EUR/USD continues to slide ahead of the ECB meeting next week. - Oil prices bounce modestly after positive IEA comments.
NZD The NZD sits with familiar peers AUD and CAD at the bottom of the G10 leader board, all having fallen against the USD despite a general USD sell-off. NZD/USD is 0.2% softer at 0.7720.
HIGHLIGHTS - EUR/USD slid in response to ongoing oil price weakness (Brent -3%) and ECB executive council member Coeure’s statement that the ECB is in a position to make a decision (on QE) at the January 22 meeting.
HIGHLIGHTS - Improved risk appetite gives equity markets a boost. - Bonds give up gains on equity strength ahead of US non-farm payrolls. - USD remains ascendant, hitting a nine year high. OUTLOOK
NZD The NZD has been the strongest performer over the past 24-hours, gaining more than 1.4% against the USD. It trades at 0.7800 this morning.
NZD The NZD has traded a fairly tight range over the past 24-hours to sit at 0.7710 currently.
NZD The NZD has strengthened along with all of its peers, relative to a weak USD overnight. The NZD/USD trades at 0.7720 this morning.
NZD The NZD has been the worst performer amongst its peers over the past 24-hours. It trades at 0.7660 at present.
NZD The NZD weakened against the USD, along with all of its peers on Friday night. It ended the week around 0.7710.
NZD NZD is off its overnight highs, but remains 0.2% higher for the day against the USD at 0.7780.