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MONDAY 14TH JUNE 2010 Ranges NZD/USD: . 6579/6906 AUD/USD: . 8085/8545 NZD/AUD: . 8034/8134 Last week Last week was dominated by a square up in the risk trades. With Euro, AUD and Kiwi rallying strongly at the end of the week. Events here at home were as predicted with a small rise in the OCR as the RBNZ raised rates to 2.75%. Then some good data out of Aussie really got the ball rolling as risk trades were re-entered. With the market now pretty square risk trades it will be interesting to see where things head from here What we did Stayed pretty square as the market was at some key pivot points This week The theme of keeping risk on the table will continue throughout this week unless we get some more bad news out of Europe but as we said the market is now reasonably square on the whole risk trade so moves should be less violent from here. Lots of technical levels have been reached now as the markets have rallied into the resistance levels. Watch the Dow this week for further moves but I think that the market will take a slight break for a bit to digest the moves over the past few weeks. What we will do Watch for further developments and see whether or not the big levels can be broken.
DATA FOR THE WEEK AHEAD
MONDAY 14-Jun NZ Performance Services Index - MAY Retail Sales (MoM) - APR Retail Sales Ex-Auto (MoM) - APR JN BSI Large All Industry (QoQ) - 2Q BSI Large Manufacturing (QoQ) - 2Q BoJ Monetary Policy Meeting - JUN Industrial Production (MoM) - APR F Capacity Utilization (MoM) - APR F EC Euro-Zone Ind. Prod. sa (MoM) - APR
TUESDAY 15-Jun NZ REINZ House Sales YoY% - MAY REINZ Housing Price Index MoM% - MAY UK RICS House Price Balance - MAY AU Reserve Bank's Board Minutes - JUN NZ Non Resident Bond Holdings - MAY JN BOJ Target Rate - JUN UK CPI (MoM) – MAY CPI (YoY) – MAY Core CPI YOY - MAY DCLG UK House Prices (YoY) - APR EC ZEW Survey (Econ. Sentiment) - JUN Euro-Zone Trade Balance sa - APR Eurozone Employment (QoQ) - 1Q GE ZEW Survey (Econ. Sentiment) - JUN Zew Survey (Current Situation) - JUN
WEDNESDAY 16-Jun US Import Price Index (MoM) - MAY Empire Manufacturing - JUN Net Long-term TIC Flows - APR Total Net TIC Flows - APR NAHB Housing Market Index - JUN UK Nationwide Consumer Confidence - MAY AU Westpac Leading Index (MoM) - APR Dwelling Starts - 1Q JN BOJ Monthly Report - JUN Machine Tool Orders (YoY) - MAY F UK Claimant Count Rate - MAY Jobless Claims Change - MAY Average Weekly Earnings 3M/YoY - APR ILO Unemployment Rate (3mths) - APR EC Euro-Zone CPI (MoM) - MAY Euro-Zone CPI (YoY) - MAY F Euro-Zone CPI - Core (YoY) - MAY Euro-Zone Labour Costs (YoY) - 1Q
THURSDAY 17-Jun US Producer Price Index (MoM) - MAY PPI Ex Food & Energy (MoM) - MAY Housing Starts - MAY Housing Starts MOM% - MAY Building Permits - MAY Building Permits MOM% - MAY Industrial Production - MAY Capacity Utilization - MAY AU RBA Foreign Exchange Transactions - MAY NZ ANZ Consumer Confidence Index - JUN JN Leading Index CI - APR F Coincident Index CI - APR F EC ECB Publishes June Monthly Report - JUN UK Retail Sales Ex Auto Fuel(MoM) - MAY Retail Sales w/Auto Fuel (MoM) - MAY EC Construction Output SA MoM - APR US Consumer Price Index (MoM) - MAY CPI Ex Food & Energy (MoM) - MAY Consumer Price Index (YoY) - MAY CPI Ex Food & Energy (YoY) - MAY Initial Jobless Claims - JUN 12 Continuing Claims - JUN 5 Current Account Balance - 1Q Philadelphia Fed. - JUN Leading Indicators - MAY JN BoJ Monetary Policy Meeting Minutes - MAY GE Producer Prices (MoM) - MAY Producer Prices (YoY) - MAY UK Major Banks Mortgage Approvals - MAY Public Finances (PSNCR) - MAY Public Sector Net Borrowing - MAY M4 Money Supply (MoM) - MAY P |
