by Warren Head | Apr 10, 2024 | Economy, Latest News, Property
10.4.24 The decision by the Reserve Bank of New Zealand (RBNZ) today to leave the official cash rate (OCR) unchanged at 5.5% was no surprise, noted CoreLogic NZ Chief Property Economist, Kelvin Davidson “Given the incoming flow of economic data released since their...
by Warren Head | Apr 10, 2024 | Currency, Economy, Market Commentary, Money Market
It has been another uneventful day in financial markets, with the key move being a steady fall in US Treasury yields after the recent lift to 2024 highs, ahead of tonight’s key US CPI report, notes BNZ Markets. US equities are down modestly. Currency moves have been...
by Warren Head | Apr 9, 2024 | Commodities, Currency, Economy, Money Market
9.4.24 Market movements have been well contained to kick off the week without any key catalysts to perturb pricing, says BNZ Markets this morning. Jason Wong, senior markets strategist, notes “There was a total eclipse of the sun in the US and a total eclipse of the...
by Warren Head | Apr 8, 2024 | Currency, Economy, Money Market
8.4.24 US equities advanced following labour market data which pointed towards a resilient US economy and intensified the debate about when the US Federal Reserve might begin to ease monetary policy, says BNZ Markets. The S&P gained more than 1%, rebounding from...
by Warren Head | Apr 5, 2024 | Currency, Economy, Global Share Markets, Money Market
The US dollar is broadly weaker, with the NZD and AUD outperforming against a backdrop of rising commodity prices, notes BNZ Markets this morning. The NZD is trading at 0.6045, with NZD/AUD falling to a 9-month low around 0.9130. Risk appetite is higher ahead of the...
by Warren Head | Apr 4, 2024 | Economy, Free
4.4.24 Consumer Confidence and Business Outlook surveys undertaken by the ANZ Bank have showed a deteriorating economic landscape. “Weakness in the economy is of course the RBNZ’s plan,” says ANZ. “But the fact that the adjustment is necessary doesn’t make it any...
