Opinion Thursday 9 November 2017

The RBNZ after the New York markets closed, left Interest Rates on hold at 1.75% but the language has spurred some Kiwi buying. Despite policy remaining “accommodative for a considerable period”, the RBNZ has brought forward the first expected tightening, increased...

Opinion – Wednesday 8 November 2017

It has been a very quiet past 24 hours for markets, the DXY and BBDXY making some net gains, but more from commodity currency weakness. The CAD, the NZD, and the AUD all lower by 0.25-0.35%. Oil prices have taken a small breather after the heady gains of late, the...

Opinion – Tuesday 7 November 2017

The oil price was the biggest mover over the past 24 hours, hitting a two year high (Brent +3.2% to $64.08 and WTI +3.0% to $57.30) driven by political uncertainty in Saudi Arabia. The move higher in oil supported commodity currencies (Aussie and Krone +0.4%; Canadian...

Opinion – Monday 6 November 2017

Both the US Dollar and US equities ended the week on a positive note, but a mixed US labour market report reinforced the flattening theme in the US Treasury curve. A December Fed hike remains well priced (92%), but question marks continue to linger on the inflation...

Opinion – Friday 3 November 2017

Late in the New York trading session, President Trump has announced that Jerome Powell will be the next Chair of the Fed, as has been widely flagged in recent days. So no surprises there. He is seen as very much the continuity candidate, he has not dissented in his...

Opinion – Wednesday 1 November 2017

The news on the state of the US and European economies has been good over the past 24 hours, adding more sunshine to the global growth acceleration story. It has also been a day of contained currency moves, the USD still waiting for substantial news on tax reform and...