|
MONDAY 8TH NOVEMBER 2010 Range NZD/USD: .7643/7970 AUD/USD: .9852/1.0170 NZD/AUD: .7665/7861 Last week The week was dominated by Kiwi racing higher against all our trading partners. With a 4% rise against both the USD and the AUD, Kiwi has responded to the good data out last week. Heading this was the employment data which in particular was very strong, this has given some impetuous to some thinking that a rate rise will happened sooner than expected. The US also posted some great data, with the nonfarm payrolls out on Friday night posting a very strong +151 against t a lower forecast and a negative release the month before. Not to forget the sneaky rate rise on Melbourne cup day across the ditch, which saw AUD pop well and truly through parity. This week With more concerns brewing in Europe and with the Dollar looking like we have seen a short term bottom, it’s going to be a case of selling Euros this week. The Euro has already come off its highs and with the world looking for better places to put its money the risk return has definitely swayed from the old world into the new. Just look how strong Kiwi and AUD have been. The late rally in the Dollar last week should continue to as the market is digesting a lot of data and the over positioning has just got a little ahead of itself. Fund news We are having a big meeting tomorrow so we hope to have some definitive news to give you.
DATA FOR THE WEEK AHEAD Mon 8 Nov Aus Oct ANZ Job Ads US Fedspeak – – – Bullard and Warsh. Eur Nov Sentix Investor Confidence Ger Sep Industrial Production Can Oct Housing Starts 186k 183k
Tue 9 Nov NZ Oct Electronic Card Transactions Aus Oct NAB Business Survey 7 US Oct NFIB Small Business Optimism Nov IBD-TIPP Economic Optimism Sep Wholesale Inventories. Jpn Oct Bank Lending Sep Current Account ¥bn UK Oct BRC Retail Sales Monitor Oct RICS House Prices net balance Sep Trade Balance £bn Sep Industrial Production Can Sep New House Prices 0.1% 0.1%
Wed 10 Nov NZ RBNZ Financial Stability Report Aus Nov Westpac-MI Consumer Sentiment 117.0 Sep Housing Finance (no.) . US Sep Trade Balance Oct Import Prices Initial Jobless Claims Oct Budget Statement UK BoE Quarterly Inflation Report Can Sep Trade Balance C$bn
Thu 11 Nov NZ Oct Food Prices Aus Oct Employment chg Oct Unemployment Rate. Nov WBC-MI Unemployt Expectations Nov MI Inflation Expectations US Fedspeak – – – Lockhart. Veteran’s Day – – – Public holiday. Jpn Sep Machinery Orders Oct Corporate Goods Prices
Fri 12 Nov NZ Oct REINZ House Prices US Nov UoM Consumer Sentiment Prelim UK Oct Consumer Confidence Eur Q3 GDP Sep Industrial Production Ger Q3 GDP |
