Free Trial

There has been no large market reaction to.....>

KIWI
KIWI: There has been no large market reaction to early comments from RBNZ Gov.
Orr who stressed that the NZ "economic outlook is not that bad," citing terms of
trade, a supportive NZD & low interest rates. As a reminder the RBNZ has struck
a more balanced tone since Orr took the helm, opening up downside risk to the
OCR. Markets are pricing ~12bp of easing by the end of August 2019, a near 50/50
chance of a cut, as a result of the rhetoric employed under Orr.
- On the political front NZ's minister for broadcasting, Clare Curran, resigned
today, after questions surrounding the use of her personal email.
- NZD/USD last trades at $~0.6575, with support noted at the YtD low ($0.6530).
- Q2 manufacturing activity data provides the highlight of the NZ docket over
the next week.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.