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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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