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Australia & New Zealand Weekly: RBA Cash Rate to Remain on Hold in 2020

Week beginning 27 August 2018 Westpac extends forecast to 2020 - RBA cash rate to remain on hold in 2020. Australia: dwelling approvals, capex, credit. NZ: residential building consents, business confidence. China: official NBS PMI's. Europe: CPI, employment, ECB Chief Economist Praet speaks. US: PCE inflation. Key economic &...

Mixed Fedspeaks and Durables, Dollar Recovery Lost Steam as Powell Eyed

Dollar trades broadly lower today, except versus Yen as it's recovery quickly lost steam. Comments from Fed officials are mixed while markets are awaiting Fed chair Jerome Powell's speech at Jackson Hole symposium at 1400GMT. Durable goods orders report is mixed too, with weak headline numbers, but solid details....

EURGBP Increased From 0.8982 To 0.9009

Markets The dollar staged a comeback yesterday, putting EM currencies (mainly BRL which suffers election fever) back under modest selling pressure. US Treasuries underperformed German Bunds. The US yield curve bear flattened with yields up to 2.5 bps higher at the front end of the curve, while German yield changes...

Australian Dollar Higher on ScoMo Win, Powell in Jackson Hole Watched

Australia Dollar recovers broadly today as markets cheered Scott Morrison's win in the Liberal Party's leadership challenge. But upside is so far limited. New Zealand Dollar is trading as the second strongest one for today so far, followed by Dollar. On the other hand, Yen is under broad based...

RBNZ Orr: New Zealand fundamentals strong but biggest challenge is to get inflation to rise

RBNZ Governor Adrian Orr said in a Bloomberg interview at Jackson Hole that the economy is well supported with a "very supportive exchange rate" and "strong terms of trade". The fundamentals for New Zealand are strong with "stable monetary policy", "low inflation", "very good fiscal account", "accommodative exchange rate"...

Dollar Selloff Intensifies on Trump, Euro and Swiss Franc Surge

Dollar suffers fresh selling entering into US session, in particular against Euro and Swiss Franc. Two former aides of Trump, campaign manager  Paul Manafort and personal lawyer Michael Cohen are found guilty on a range of charges. More importantly, Cohen's attorney Lanny Davis said in a statement that Cohen...

Trumps Legal Woes Are Markets Center Of Attention

Wednesday August 22: Five things the markets are talking about This morning U.S stock futures are under pressure, while both Europe and Asia equity sessions overnight traded mixed as investors try to guesstimate the potential fallout from President Trump’s latest legal drama. Note: To date, capital markets has had to contend...

NZD Retail Sales Forecast To Rise In Q2

The U.S. dollar was seen easing back on Monday with a slight risk on sentiment following the upcoming China - U.S. trade talks. However, there was some negative news as well with media outlets reporting Trump criticizing the Fed for raising interest rates and also calling out Europe and...

Sterling Lifted by Positive Brexit Meeting, Yen Weak as S&P 500 Hit Record

Dollar and Yen remains the weakest one for the week. While sell-off slows a little bit in Asian session, there is no sign of bottoming yet. Dollar is apparently still weighed down by Trump's comments on Fed policy. On the other hand, Yen is pressured by solid risk appetite....

New Zealand Dollar rebounds on strong retail sales, AUD/NZD reversing?

New Zealand Dollar rebounds strongly today after stronger than expected inflation data. Headline retail sales rose 1.1% qoq in Q2 versus expectation of 0.4% qoq. Core retail sales rose 1.4% qoq versus expectation of 0.8% qoq. Australian Dollar was not bad. Westpac leading index rose 0.0% mom in July....

NZD Retail Sales Forecast To Rise In Q2

The U.S. dollar was seen easing back on Monday with a slight risk on sentiment following the upcoming China - U.S. trade talks. However, there was some negative news as well with media outlets reporting Trump criticizing the Fed for raising interest rates and also calling out Europe and...

Australia & New Zealand Weekly: Inflation Expectations Might be Anchored Despite the Official 2.5% Policy Target

Week beginning 20 August 2018 Inflation expectations might be anchored despite the official 2.5% target. RBA: Minutes, Governor Lowe and Deputy Governor Debelle speak. Australia: Westpac-MI Leading Index, construction work. NZ: real retail sales. US: Fed Chair Powell speaks at the Jackson Hole Symposium, durable goods orders. Flash Markit...

Week Ahead – Eurozone PMIs and Japanese Inflation Due; Jackson Hole Summit, Trade Updates & Turkey Could Steal the Show

Upcoming releases in the next seven days are pointing to a relatively quiet August week. Among the few stand-out readings are flash PMI prints out of the eurozone, Japanese inflation figures and US capital goods orders. In addition, the minutes relating to the Federal Reserve and Reserve Bank of...

Australia & New Zealand Weekly: RBA Lowers Inflation Forecasts to Reflect “One-off” Effects

Week beginning 13 August 2018 RBA lowers inflation forecasts to reflect "one-off" effects. RBA: RBA Governor Lowe Semiannual Testimony, Assistant Governor Ellis speaks. Australia: Westpac-MI Consumer Sentiment, wage price index, employment, NAB business survey. NZ: REINZ house prices and sales. China: retail sales, fixed asset investment, industrial production. US:...

Sterling Recovers, Dollar Mixed in Listless Trading

The forex markets are relatively directionless today, except overwhelming weakness in New Zealand Dollar. Sterling recovers broadly today on rumor that the EU is considering to offer a major Brexit concession to the UK. But there is so far no detail on the deal. Oversold condition also helps the...

Turkish Lira Loses Another 3% Against The Dollar

Thursday August 9: Five things the markets are talking about The geopolitical tension theme continues to dominate capital markets, now that China has responded to the U.S’s tariff onslaught with additional tariffs of its own. In currencies, the market is again focused on sterling (£1.2852) as it encroaches on its new...

RBNZ Weighs On NZD, Crude Tumbles

RBNZ sends the Kiwie lower After extending gains on hope that the RBNZ would adopt a more positive on the inflation outlook, the Kiwi fell sharply on Thursday morning and reached its lowest level in more than two years (lowest since March 2016). After climbing as high as $0.6762 yesterday,...

Kiwi Plummets On Dovish RBNZ, US PPI And US-Japan Trade Meeting On The Horizon

Here are the latest developments in global markets: FOREX: The US dollar index is marginally higher on Thursday, after posting some relatively small losses (-0.13%) in the previous session. Meanwhile, the kiwi collapsed overnight, falling by nearly 1.4% against the dollar, after the RBNZ pushed further back the anticipated timing...

New Zealand Dollar Dives after Dovish RBNZ, Sterling Stays Weak

New Zealand Dollar is clearly the biggest loser today after more dovish than expected RBNZ rate decision. Sterling is following as the second weakest, continues to be weighed down by no-deal Brexit worries. On the other hand, Canadian Dollar is staging a strong rebound as markets look pass the...

Asian Equities Bounce, New Zealand Dollar And Ruble Severely Hit

Investors in Asia largely brushed off the ongoing trade fight between China and the U.S., with Shanghai’s blue-chip stocks climbing 2.4%, a move supported by the tech and financial sectors. Solid economic data and possible government intervention through monetary &fiscal policies encouraged investors to take some risk on Thursday....

RBNZ Delays Timing for Rate Change and Inflation to Reach +2%, Kiwi Slumps

RBNZ’s August statement comes in more dovish than we had anticipated. While leaving the OCR unchanged at 1.75%, the members pushed backward expectations for the next interest rate adjustment. Moreover, they pushed back the timing for inflation to reach the +2% target. New Zealand dollar slumped after the announcement....

RBNZ condition full 25bps hike in Q4 2020, revised down GDP forecasts

New Zealand Dollar tumbles broadly and sharply after RBNZ announcement turned out to be more dovish than expected. The Official Cash Rate is held unchanged at 1.75%. OCR is expected to be kept low, "but for longer", through 2019 and into 2020. RBNZ also reiterated that the next move...

RBNZ Governor Adrian Orr press conference highlights and full

https://www.youtube.com/watch?v=50LqKdb1kB4 https://www.youtube.com/watch?v=d8T1GhMxhQ0

NZD/USD Testing Daily and Weekly Range Low Near 0.6700 Ahead of RBNZ

Falling in the awkward post-US, pre-Asian session, the Reserve Bank of New Zealand will deliver its quarterly monetary policy statement in just a few hours (21:00 GMT). While the release is functionally equivalent to the Fed’s “live” quarterly meetings when it delivers updated assessments on the economy, the primary...

RBNZ kept OCR unchanged at 1.75% as widely expeced, full statement

Statement by Reserve Bank Governor Adrian Orr: Tena koutou katoa, welcome all. The Official Cash Rate (OCR) remains at 1.75 percent. We expect to keep the OCR at this level through 2019 and into 2020, longer than we projected in our May Statement. The direction of our next OCR move could be...

Sterling Plunges as No-Deal Brexit Becoming More Likely, Yen Shows Broad Based Strength

Sterling plunges sharply today as markets are seeing increasing change of a no-deal Brexit. Adding that, GBP/USD's break of 1.2956 earlier this week and EUR/GBP's break of 0.8957 resistance yesterday also adds to broad based pressure on the Pound. Australian Dollar follows as the second weakest at this point....

Sterling Plunges Amid Worries of No Brexit Deal; RBNZ Rate Announcement Pending

Here are the latest developments in global markets: FOREX: The US dollar weakened by 0.27% versus the Japanese yen on Wednesday, with dollar/yen trading near 111.00, while the US dollar index, which gauges the greenback’s strength against a basket of six major currencies, held near its opening level. Euro/dollar returned...

China Trade Balance Unaffected By Trade War

China Trade balance unaffected by trade war If there is a 'trade war' no one told China importers/exporters. China’s exports growth unexpectedly rose above expectations despite U.S tariffs and heavy media rotation of protectionist rhetoric. Imports also accelerated indicating solid domestic demand. A key focus for the market was Chinas...

Euro Advances As Sterling & Dollar Retreat, RBNZ Meeting Eyed

Here are the latest developments in global markets: FOREX: The US dollar index – which measures the greenback’s performance against a basket of six major currencies – is down by 0.13% on Wednesday, extending the pullback that started in the previous session. The euro capitalized both on the dollar’s correction...

RBNZ Rate Decision Coming Up

The U.S. Dollar was trading mixed on Tuesday as the Euro posted a strong rebound. Economic data was sparse. Canada's Ivey PMI report showed that the index increased to 61.8, missing estimates of 64.2 and down from the previous 63.1. New Zealand's inflation expectations for the quarter showed a 2.0%...