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MONDAY 18TH OCTOBER 2010
Ranges NZD/USD: . 7481/7642 AUD/USD: . 9775/1.0004 NZD/AUD: . 7615/7703
Last week The week’s big news was that the AUD finally hit parity with the USD, taking out option structures at 1.0000 before falling over a cent once the market digested the break or non break. This break followed comments from the treasurer that they were unconcerned with the level of the AUD and shortly after it punched its way north to the highest levels since 1982. However, after some comments from the FED on Friday night, USD shorts were trimmed and with the market over baked the resulting fall was very quick.
This week With Friday nights USD short positions getting trimmed we will be looking for more of the same this week. The market is way over positioned and with the upside targets having been met it makes way for a big move. Kiwi will remain inside the range of last week with the two big levels of 7440 and 7660 holding at both ends of the range. Fund update Still awaiting for the final sign off from the legal teams involved Data for the week ahead
MONDAY 18-Oct UK Rightmove House Prices (MoM) - OCT Rightmove House Prices (YoY) - OCT AU New Motor Vehicle Sales MoM - SEP JN Nationwide Dept. Sales (YoY) - SEP
TUESDAY 19-Oct US Total Net TIC Flows - AUG Net Long-term TIC Flows - AUG Industrial Production - SEP Capacity Utilization - SEP NAHB Housing Market Index - OCT AU Reserve Bank's Board October Minutes - OCT EC ECB Euro-Zone Current Account SA - AUG Construction Output SA MoM - AUG Construction Output WDA YoY - AUG GE Zew Survey (Current Situation) - OCT EC ZEW Survey (Econ. Sentiment) - OCT GE ZEW Survey (Econ. Sentiment) - OCT UK CBI Business Optimism - OCT
WEDNESDAY 20-Oct US Housing Starts MOM% - SEP Building Permits MOM% - SEP AU Westpac Leading Index (MoM) - AUG DEWR Skilled Vacancies MoM - OCT JN Leading Index CI - AUG F GE Producer Prices (MoM) - SEP Producer Prices (YoY) - SEP UK Bank of England Minutes - OCT Public Finances (PSNCR) - SEP Public Sector Net Borrowing - SEP M4 Money Supply (MoM) - SEP P M4 Money Supply (YoY) - SEP P
THURSDAY 21-Oct US Fed's Beige Book - OCT NZ New Zealand Net Migration SA - SEP AU CBAHIA House Affordability - 3Q CH Real GDP YoY - 3Q NZ Credit Card Spending SA (MoM) - SEP Credit Card Spending (YoY) - SEP ANZ Consumer Confidence Index - OCT CH Producer Price Index (YoY) - SEP Purchasing Price Index (YoY) - SEP Consumer Price Index (YoY) - SEP Retail Sales (YoY) - SEP Industrial Production (YoY) - SEP JN All Industry Activity Index (MoM) - AUG GE PMI Manufacturing - OCT A PMI Services - OCT A EC PMI Composite - OCT A PMI Manufacturing - OCT A PMI Services - OCT A UK Major Banks Mortgage Approvals - SEP Retail Sales Ex Auto Fuel(MoM) - SEP Retail Sales w/Auto Fuel (MoM) - SEP
FRIDAY 22-Oct US Initial Jobless Claims - 16 Oct Continuing Claims - 9 Oct EC Euro-Zone Consumer Confidence - OCT A US Leading Indicators - SEP Philadelphia Fed. - OCT AU Import price index (QoQ) - 3Q Export price index (QoQ) - 3Q EC Euro-Zone Govt Debt/GDP Ratio - 11658 GE IFO - Business Climate - OCT IFO - Current Assessment - OCT IFO - Expectations - OCT
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