The New Zealand dollar crashed versus its peers during the Sydney-Asian session as the central bank, the RBNZ, issued a monetary policy containing dovish forward guidance, suggesting that interest rate cuts were likely in the short to medium term, as opposed to its previous commitment to raise the rate. RBNZ Governor Adrian Orr declared: “Given […]
USD rose versus the majority of its peers during the latter part of the London-European trading session and the New York session. This rise came despite, or perhaps as a consequence, of the poor housing and consumer confidence data published during the day’s sessions, which saw permits and housing starts miss the forecasts, whilst the
At 1:00am U.K. time, on Wednesday 26th March, the central bank for New Zealand, the RBNZ, will announce its decision regarding the country’s interest rate. Referred to as the “official cash rate”, the current rate is 1.75% and the widely held consensus, after Bloomberg and Reuters have polled their panel of economists over recent days,
The equity markets in China fell during Tuesday’s overnight/morning Asian session, as global growth fears continued to stalk Chinese markets. The Shanghai Composite index fell by -1.51% and the CSI by -1.13%. Chinese investors could be trading ahead of the curve, by regarding the lack of definitive progress in relation to the tariff talks as
The U.K. pound traded in tight ranges versus its peers during Monday’s trading sessions, as analysts and FX traders struggled to make sense of the latest Brexit developments in U.K. parliament. At 10:00pm on Monday evening, MPs voted on another arcane parliamentary process; what’s termed “indicative votes” to establish what type of withdrawal agreement exit
Asian equity markets sold off during the Sydney-Asian trading sessions, as global recession fears stalked markets in: Japan China and Australia. The Nikkei slumped by -3%, Shanghai Composite by -1.97% and the ASX 200 by -1.11%. This pattern followed a sell off, in European and USA equity markets, on Friday March 22nd, which saw up
Global recession fears rise, as bond yields invert and Asian equities slump Read More »
Monday’s significant calendar events begins the week with the latest IFO: business climate, expectations and current assessment sentiment readings, for the German economy. Coming so soon after the poor Markit PMI readings of Friday 22nd of March (for the Eurozone’s largest economy) missed the forecasts by some distance, the results will be carefully monitored when
On Thursday evening at an E.U. summit, the leaders of the E.U. 27 finally took control of the Brexit process, by declaring the revised exit dates for the U.K. The March 29th deadline has been moved; if the U.K. parliament can’t agree to the withdrawal agreement, then it exits by April 11th, under a no
The next chapter of the Brexit debacle was reached on Thursday, as the U.K. prime minister May scuttled off to Brussels, in an attempt to negotiate an extension, to the March 29th leave date. She wanted June 30th, the Council appears unwilling to grant such an extension, given it would indirectly compel the U.K. to
By Thursday morning, the U.S. dollar had stabilised its Wednesday evening sell off, caused by the FOMC interest rate hold announcement and the dovish monetary policy statement, broadcast by Jerome Powell after the announcement. Mr. Powell hinted that the “normalisation” process; to take the key interest rate up to circa 3.5% by the end of
