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MONDAY 10TH MAY 2010
Ranges NZD/USD: .7040/7323 AUD/USD: . 8751/9270 NZD/AUD: . 7862/8052
Last Week Bollard came out of the blocks on Thursday last week, saying the worst of the financial crisis was over and that he will begin to tighten in the coming months. This automatically pushed Kiwi up, and the NZD/AUD cross which has caught the market horrible short, immediately jumped above 80 cents. However, no matter how good things here at home, the global markets are starting to melt down again. With the Euro zone in considerable trouble, the stock markets have tumbled out of bed and taken risk appetites with them. One of the hedge fund computers went astray and took the Dow down 996 points last week and a $40 share to 1 cent before they pulled the plug. Sell orders placed for 14 billion shares instead of 14 million, wouldn’t want to be that guy. Strange things afoot in New York, 2012 coming closer. What we did Bought Kiwi against the AUD Sold Euro on bounces This week A really busy start this morning with the Euro zone hitting the headlights again, all sort s of rumours around big bailout packages needed everywhere. Basically, if it wasn’t for Germany, the Euro zone would fall over. More rumours about European banks searching for money etc etc abounding. Even with the rescue package announced the Euro has fallen a cent this morning. England - well we don’t really need to say anything. Huge debt GDP ratio, huge employment problems and now they don’t have a government to run the country. Buy AUD and Kiwi and stay home. What we will do Watch Euro zone for more fun and games Buy NZD against GBP and Euro and AUD Watch for stock markets doing strange things and the computers get it all wrong.
THE WEEK AHEAD
Monday 10-May JN BoJ Monetary Policy Meetintes AU ANZ Job Advertisements (MoM) - AU NAB Business Conditions AU NAB Business Confidence CH China NDRC Housing Prices Money Supply - M2 (YoY) - CH New Yuan Loans - CH Trade Balance (USD) CH Exports YoY% - APR CH Imports YoY% - APR GE Trade Balance – MAR GE Imports SA (MoM) - MAR Current Account (EURO) Exports SA (MoM) - MAR EC Sentix Investor Confidence UK BOE Asset Purchase Target 200B 23:00 UK BOE ANNOUNCES RATES
Tuesday 11-May NZ NZ Card Spending (MoM) - APR - UK BRC April Retail Sales Monitor - UK RICS House Price Balance - APR CH Producer Price Index (YoY) - APR CH Purchasing Price Index (YoY) - APR CH Consumer Price Index (YoY) - APR CH Retail Sales (YoY) - APR CH Retail Sales YTD YoY - APR CH Industrial Production (YoY) - APR CH Fixed Assets Inv Urban YTD YoY - GE Consumer Price Index (Mo M) - APR GE CPI - EU Harmonised (MoM) - APR GE CPI - EU Harmonised (YoY) - APR GE Consumer Price Index (YoY) - APR GE Wholesale Price Index (MoM) - APR GE Wholesale price Index (YoY) - APR UK Industrial Production (MoM) UK Manufacturing Production AU Australia 2010/11 Federal Budget -
Wednesday 12-May US Wholesale Inventories - MAR US IBD/TIPP Economic Optimism AU Home Loans - MAR AU Investment Lending - MAR - AU Value of Loans MoM - MAR - - JN Leading Index CI - GE GDP s.a. (QOQ) UK Claimant Count Rate - UK Jobless Claims Change - APR UK Average Weekly Earnings 3M/YoY UK ILO Unemployment Rate EC Euro-Zone Ind. Prod. sa (MoM) - EC Euro-Zone GDP s.a. (QoQ) UK Bank of England Quarterly Inflation Report - MAY
Thursday 13 May US Trade Balance US Monthly Budget Statement NZ Business NZ PMI - APR NZ Food Prices (MoM) - APR UK Nationwide Consumer Confidence - APR JN Current Account Total JN Adjusted Current Account Total - JN Trade Balance (BoP Basis) JN Japan Money Stock M3 YoY - APR AU RBA Assistant Governor Lowe speech - ColonialForum Sydney AU Employment Change - APR AU Unemployment Rate - APR AU Full Time Employment Change - APR AU Part Time Employment Change - APR AU Participation Rate - EC ECB Publishes May Monthly Report UK Visible Trade Balance GBP/Mn - MAR -£6407 -£6179 20: UK Trade Balance Non EU GBP/Mn - MAR - - 20: UK Total Trade Balance (GBP/Mln) - MAR UK DCLG UK House Prices (YoY) - MAR
Friday 14 May US Import Price Index (MoM) - APR US Initial Jobless Claims - 08 MAY US Continuing Claims - 01 MAY NZ REINZ House Sales YoY% - APR NZ REINZ Housing Price Index MoM% - APR NZ Retail Sales (MoM) - MAR NZ Retail Sales Ex-Auto (MoM) - MAR 1.50% -0.90% 10:45 NZ Retail Sales Ex Inflation(QoQ) - 1Q 0.30% 1.00% 10:45 NZ Non Resident Bond Holdings - APR
Saturday 15 May US Advance Retail Sales - APR US Retail Sales Less Autos - APR US Industrial Production - APR US Capacity Utilization - APR 73. 73. 01: US U. of Michigan Confidence - MAY P US Business Inventories - MAR |
