FX News

NZD and AUD come off recent highs

Market Overview

  • Worldwide coronavirus cases surpass 114.96 million with over 2.549 million official Deaths.
  • Day 3 for Aucklanders in lockdown level 3 today, expected to last for 7 days through to Sunday morning.
  • Overnight equity indices rise, surge risk products higher. With the Federal Reserve reaffirming their stance on accommodative policy the bond markets are not so sure
  • RBA Boosts their bond buying by 3B.
  • Japanese Jobless rate for January comes in at 2.9% after 3.0% was expected.
  • RBNZ’s Hawkesby said the central bank is committed to prolonged stimulus and will cut the cash rate if needed- saying the economy in NZ is uneven and fragile.

Major Announcements last week:

  • RBNZ retains cash rate at 0.25%
  • NZ Business Confidence index fell several points
  • NZ Private Capital Expenditure fourth Q improves to 3.0% from 1.1% forecast
  • US Chicago PMI read for February fell to 59.5 from 63.8 in January
Previous ArticleNext Article