FX News

Market Overview

Key Points:

• Worldwide coronavirus cases surpass 236.079 million with over 4.821 million official deaths.
• New Zealand has 342 active cases of coronavirus with 35 new cases yesterday. Meanwhile, the Australian State of New South Wales reported 496 new cases and 8 deaths yesterday with Victoria reporting 1466 new cases with 8 deaths
• US Non-Farm Payroll reports for September came in at 194,000 compared to 500,000 consensus
• Comments from ex-Prime Minister Tony Abbot on Taiwan disappoint the Chinese Foreign Ministry
• The NZ Truckometer – a GDP indicator, surged in September representing increased traffic volume and improving recent supply chain bottlenecks
• Crude Oil breaks into the 80’s as demand and shortages continue
• Offshore Bond holders of Evergrande have not received interest payments and may not meet the Monday (US time) deadline sparking risk off market trading conditions Read more

Tuesday 12/10
All Day, CAD, Bank Holiday
All Day, USD, Bank Holiday

Thursday 14/10
1:30am, USD, CPI m/m
Forecast 0.30%
Previous 0.30%
1:30am, USD, Core CPI m/m
Forecast 0.20%
Previous 0.10%
7am, USD, FOMC Meeting Minutes
1:30pm, AUD, Employment Change
Forecast -135.0K
Previous -146.3K
1:30pm, AUD, Unemployment Rate
Forecast 4.80%
Previous 4.50% Read more

Key Points:

• Worldwide coronavirus cases surpass 236.079 million with over 4.821 million official deaths.

• New Zealand has 376 active cases of coronavirus with 31 new cases yesterday. Meanwhile, the Australian State of New South Wales reported 594 new cases and 10 deaths yesterday with Victoria reporting 1838 new cases with 5 deaths
• The RBNZ hikes its cash rate to 0.50% from 0.25%
• Japanese premier calls for capital gains tax to rise from 20% to 25% 
• Goldman Sachs predicts 600k headline for NFP result, much higher than forecast  
• Crude Oil settles at 78.30 per barrel
• Evergrande may continue to affect market sentiment as the “real” off balance sheet debt of the Chinese company is exposed.
• Fed’s Mester sees US inflation driven by supply and demand factors due to coronavirus which may not see inflation rising further

Market Overview

Key Points:
• Worldwide coronavirus cases surpass 236.079 million with over 4.821 million official deaths.
• New Zealand has 287 active cases of coronavirus with 29 new cases yesterday. Meanwhile, the Australian State of New South Wales reported 623 new cases and 6 deaths yesterday with Victoria reporting 1377 new cases with 4 deaths
• Hikes are on the way for the RBNZ starting tomorrow but analysts remain cautious
• WTI Crude up over 77.60 a barrel
• Chinese electricity outages causes mass supply chain issues, coal reserves have become dangerously low
• Evergrande sank the Hang Seng Index by over 2.0% overnight as repayment worries continue
• Core US inflation is not predicted to drop to their target 2.0% over the following couple of years with 2.8% forecast in 2022 with rises in export prices forecast Read more

Sunday 03/10
5am, AUD, Daylight Time Shift

Monday 04/10
All Day, AUD, Bank Holiday
All Day, CNY Bank Holiday
All Day, All, OPEC Meetings
All Day, All, OPEC-JMMC Meetings

Tuesday 05/10
All Day, CNY, Bank Holiday
4:30pm, AUD, RBA Rate Statement

Wednesday 06/10
3am, USD, ISM Services PMI
Forecast 59.9
Previous 61.7
All Day, CNY, Bank Holiday
2pm, NZD, Official Cash Rate
Forecast 0.50%
Previous 0.25%
2pm, NZD, RBNZ Rate Statement Read more

Key Points:

Worldwide coronavirus cases surpass 234.463 million with over 4.794 million official deaths.
New Zealand has 272 active cases of coronavirus with 19 new cases yesterday. Meanwhile, the Australian State of New South Wales reported 941 new cases and 6 deaths yesterday with Victoria reporting 1438 new cases with 5 deaths
ANZ Consumer Confidence Index – September 104 vs 109 prior
WTI Crude up over 75.00 a barrel
Supply worries in the US are driving up inflation says Fed member Evans
Evergrande have made 10% repayments to investors fulfilling the first part of their repayment plan
New Zealand Building Permits for August up 3.8% beating estimates of 2.3% as 4,490 new homes are consented
362,000 was the number of individuals who filed for unemployment last week compared to 333,000 predicted, the highest read since early August

Market Overview

Key Points:

• Worldwide coronavirus cases surpass 232.951 million with over 4.767 million official deaths.
• New Zealand has 222 active cases of coronavirus with 12 new cases yesterday. Meanwhile, the Australian State of New South Wales reported 787 new cases and 12 deaths yesterday with Victoria reporting 705 new cases with 1 death
• North Korea have launched another target unidentified missile into the East Sea
• Federal Reserve’s Brainard says the US economy will likely make a complete recovery from coronavirus concluding the central bank shouldn’t need to raise rates
• Federal Reserve’s Evans sees one rate hike necessary in 2023 and mellow rises thereafter
• Iron Ore prices have recovered off the June 2020 low of 102.80 to push back towards 109.00 levels Read more

Tuesday 28/09
7am, GBP, BOE Gov Bailey Speaks
230pm, AUD, Retail Sales m/m
Forecast -2.50%
Previous -2.70%

Thursday 30/09
445am, EUR, ECB President Lagarde Speaks
445am, GBP, BOE Gov Bailey Speaks
445am, JPY, BOJ Gov Kuroda Speaks
2pm, CNY, Manufacturing PMI
Forecast 50.3
Previous 50.1
Tentative, JPY, BOK Gov Kuroda Speaks Read more

Key Points:

• Worldwide coronavirus cases surpass 231.343 million with over 4.741 million official deaths.

• New Zealand has 289 active cases of coronavirus with 15 new cases yesterday. Meanwhile, the Australian State of New South Wales reported 1063 new cases and 6 deaths yesterday with Victoria reporting 766 new cases.
• UK Consumer Confidence -13 vs -8, the lowest level since April and the biggest monthly drop since October 2020
• NZ Trade Balance for August has recorded a deficit of -2.144B – YTD is -2.94B 
• Bank of England may consider raising rates before ending bond buying
• Federal Reserve speak on tapering causes sharp rises in equity indices which are up over 1% on the day
• Iron Ore prices continue to fall, dipping to $103 per ton this morning, the late June 2020 low

Market Overview

Key Points:

• Worldwide coronavirus cases surpass 229.684 million with over 4.710 million official deaths
• New Zealand has 410 active cases of coronavirus with 22 new cases yesterday. Meanwhile, the Australian State of New South Wales reported 935 new cases and 4 deaths yesterday with Victoria reporting 567 new cases
• NZ third quarter consumer confidence dips to 102.7 from 107.1
• China construction company Evergrande defaults on loan obligations sparking fears of a downturn in the Chinese economy
• RBNZ Hawkesby said this morning that monetary and government spending policies have supported a strong recovery in spending
• Nasdaq and Dow are down over 1.5% this morning while the S&P tests the 100 day moving average
• Iron Ore prices have dipped to 104 per ton this morning, the early July 2020 low Read more