March 17th, 2009
The Kiwi stayed flat yesterday, before jumping overnight as investor risk appetite continued to strengthen.
The local session saw the Kiwi stay flat as investor sentiment overrode the influence of more poor local data. Manufacturing sales volume fell over 5% in quarter 4 last year, which, after 4 consecutive quarters of contraction, now finds itself at its lowest level on record. Read Full Article »
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| tags:gdp figures, Interest Rate, investor risk, kiwi, rally, RBA, recession, risk appetite, STI, Stock Market, stock markets, TSE
March 16th, 2009
The Kiwi maintained its strength over the weekend, posting modest gains against all the majors.
Friday’s local session saw the Kiwi continue to enjoy it support from the previous day’s RBNZ announcement. The central bank’s signaling of a slow to its OCR cuts has given investors hope, which coupled with rising stock markets has boosted risk appetite for the Kiwi. Read Full Article »
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March 16th, 2009
The Group of Twenty finance ministers have agreed to a substantial increase in funds for the International Monetary Fund, Asian Development Bank and other emerging market institutions. Read Full Article »
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March 9th, 2009
The AUD continues to trade within recent bands, unable to sustain any momentum above 0.6500 and dropping back through 0.6400. For the last month the AUD has been influenced by offshore economic data and more recently our negative GDP, trading to below 0.6300. Investors are caught between taking some risk in the ‘higher yielding’ currencies and putting some of their funds back into the share markets. The volatile swings in the stock markets have been mirrored in the currency markets. Read Full Article »
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March 6th, 2009
The Kiwi had a rough night as a general feeling of gloom returned to the market following the UK and EZ interest rate announcements.
The local session was dominated by thoughts of the impending rate cuts and the Kiwi gave up most of its gains from the previous evening as sentiment started to wane. What little support the Kiwi finds has been tempered by expectations towards next week’s RBNZ OCR announcement, for which the market has priced in a 0.5% cut. Read Full Article »
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