March 12th, 2009
The Kiwi stayed range-bound yesterday as global equity markets held onto the previous night’s gains, which in turn further weakened the USD.
The Kiwi’s local session was dominated by the opening of local markets and their reaction to Wall St’s jump. With Citigroup likely to post a first-quarter profit, fears have eased about the stability of the US’s banking system, and stocks rose across Asia. Read Full Article »
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| tags:global economy, global equity, kiwi, losses, retail sales, STI, Trade Balance, trade surplus, USD
March 5th, 2009
The Kiwi climbed overnight as a small degree of confidence returned to global equity markets.
It wasn’t all sunshine and kittens for the Kiwi though as the local session saw it and AUD pulled back from the previous night’s gains. The biggest drop came when the Australian GDP figures were released showing a surprising contraction of 0.5% in Q4 2008 – the first drop in 8 years and considerably under the expected 0.2% rise. The AUD dropped a cent against the USD on the news (pulling the Kiwi lower) as investors wondered whether the RBA’s confidence had been misplaced, with pressure now being brought to bear for a large rate cut in April. Read Full Article »
Share this article: | tags:gdp figures, global economy, global equity, house price, Interest Rate, kiwi, rally, RBA, risk appetite, STI, Stimulus Package, Stock Market, stock markets, USD
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