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TUESDAY 26TH OCTOBER 2010

Ranges

NZD/USD:           . 7437/7558

AUD/USD:           . 9689/9963

NZD/AUD:           . 7568/7697

Last week

The week was dominated by the exiting of USD short positions ahead of teh G20 meeting.  Once again the market has been let down as the G20 meeting failed to come out with the approproiate statement regarding the devaluation of currencies.

The week’s data was slightly better from a USD point of view and has helped keep some of the gains that the USD has made.

There is no local movement on its own right, everything is underpinned by the weakening USD story.

This week

All eyes this week will be on the USD FOMC meeting for further direction. Some are saying that the qualitative easing might mean that the FED will need to pump in another USD2 trillion into the economy to keep the markets liquid enough for the employment and domestic sectors to get back on track.

We also have the RBNZ on Thursday, but that will remain a non event, with no change to the rate and a steady as she goes comment.

 

Fund update

Still awaiting the final legal sign off

 

Data for the week ahead

TUESDAY 26-Oct

US Chicago Fed Nat Activity Index

US Existing Home Sales MoM - SEP

US Dallas Fed Manf. Activity - OCT

JN Corp Service Price Index (YoY) - SEP

AU NAB Business Confidence - 3Q

GE GfK Consumer Confidence Survey - NOV

UK GDP (QoQ) -

UK GDP (YoY) -

UK Index of Services (MoM) - AUG

 

WEDNESDAY 27-Oct

US S&P/CS 20 City MoM% SA - AUG -

US S&P/CS Composite-20 YoY - AUG

US Consumer Confidence - OCT

US House Price Index MoM - AUG

US Richmond Fed Manufact. Index - OCT

AU Consumer Prices (QoQ) -

AU Consumer Prices (YoY)

AU RBA Trimmed Mean (QoQ) -

AU RBA Trimmed Mean (YoY)

AU RBA Weighted Median (QoQ)

AU RBA Weighted Median (YoY)

JN Small Business Confidence - OCT

NZ NBNZ Activity Outlook - OCT

NZ NBNZ Business Confidence - OCT

EC Euro-Zone M3 s.a. (YoY) - SEP

 

THURSDAY 28-Oct

US Durable Goods Orders - SEP

US Durables Ex Transportation - SEP

US Cap Goods Orders Nondef Ex Air - SEP 0

US Cap Goods Ship Nondef Ex Air - SEP

GE Consumer Price Index (MoM) - OCT

GE Consumer Price Index (YoY) - OCT

US New Home Sales MoM - SEP

NZ RBNZ Official Cash Rate - OCT

JN Retail Trade MoM SA - SEP

JN Retail Trade YoY - SEP

AU Conference Board Leading Index - AUG

NZ Money Supply M3 YoY - SEP

UK Nat'wide House prices sa (MoM) - OCT

UK Nat'wide House prices nsa(YoY) - OCT

GE Unemployment Change (000's) - OCT

GE Unemployment Rate (s.a) - OCT

EC Business Climate Indicator - OCT

EC Euro-Zone Consumer Confidence - OCT

EC Euro-Zone Economic Confidence - OCT

UK CBI Reported Sales - OCT

 

FRIDAY 29-Oct

JN BOJ Target Rate - OCT

US Initial Jobless Claims

US Continuing Claims

NZ Building Permits MoM - SEP

NZ Trade Balance - SEP

NZ NZ Trade Balance 12 Mth YTD - SEP

NZ Exports - SEP

NZ Imports - SEP

UK GfK Consumer Confidence Survey - OCT

JN Nomura/JMMA Manufacturing PMI - OCT

JN Jobless Rate - SEP

JN Natl CPI YoY - SEP

JN Natl CPI Ex Food, Energy YoY - SEP

JN Industrial Production (MoM) - SEP

JN Industrial Production YOY% - SEP

AU HIA New Home Sales (MoM) - SEP

AU Private Sector Credit MoM% - SEP

AU Private Sector Credit YoY% - SEP

AU RP Data-Rismark Med Val (MoM) - SEP

AU RP Data-Rismark Med Val s.a. ( - SEP

JN Housing Starts (YoY) - SEP

JN Construction Orders (YoY)

UK Mortgage Approvals - SEP

UK M4 Money Supply (MoM) - SEP

UK M4 Money Supply (YoY) - SEP

EC Euro-Zone CPI Estimate (YoY) - OCT

EC Euro-Zone Unemployment Rate - SEP

 

SATURDAY 30-Oct

US GDP QoQ (Annualized)

US Personal Consumption

US Core PCE QoQ - 3Q

US Employment Cost Index - 3Q

US Chicago Purchasing Manager - OCT

US U. of Michigan Confidence - OCT

US NAPM-Milwaukee - OCT

 

SUNDAY 1-Nov

AU AiG Performance of Mfg Index - OCT

AU TD Securities Inflation MoM% - OCT

AU TD Securities Inflation YoY% - OCT

UK Hometrack Housing Survey (MoM) - OCT

UK Hometrack Housing Survey (YoY) - OCT

AU NAB Business Conditions - OCT

AU NAB Business Confidence - OCT

AU House Price Index QoQ - 3Q

AU House Price Index YoY - 3Q

CH PMI Manufacturing - OCT -

 JN Labor Cash Earnings YoY - SEP

 NZ ANZ Commodity Price - OCT

 CH HSBC Manufacturing PMI - OCT -

 JN Vehicle Sales (YoY) - OCT - -

 AU RBA Commodity Index SDR YoY% - OCT -

AU RBA Commodity Price Index Au - OCT -

UK PMI Manufacturing - OCT

 

 

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