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
