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MONDAY 15TH NOVEMBER 2010
Ranges
NZD/USD: . 7715/7908 AUD/USD: .9855/1.016 NZD/AUD: . 7712/7868 Last week It had to happen and it did, the short USD story finished with a bang last week as the markets all reversed, especially the commodities. This has underpinned a reversal in the trend, and you now see Kiwi and AUD alot lower. The Irsh issue has defiantly got the markets concerned, as they are running around looking for a cool 100 billion dollars to fund the short fall in the Irsh financial system. This has caused the other European nations to once again look to their own accounts. Gold has fallen massively. This week It’s going to be more of the same for a bit, as the markets readjusts this week. With the world still very short USD and long commodities, the unwinding of these overstretched positions will take sometime. Local data out here today will be watched to see how the domestic economy is doing as we have seen some pretty horrible data out of late. There is lots f US data out this week and speeches from US Fed Governor to watch out for. This will set the tone for all currencies especially if the data is good and we can see the correction continue.
Update We had more meetings last week with the legal guys, and counterparties, all we can say is that we continue to make progress in getting a statement out to you soon. DATA OUT FOR THE WEEK AHEAD Monday 15-Nov NZ Performance Services Index - OCT Retail Sales Ex Inflation(QoQ) - 3Q Retail Sales (MoM) - SEP Retail Sales Ex-Auto (MoM) - SEP JN Gross Domestic Product (QoQ) - 3Q P UK Rightmove House Prices (MoM) - NOV Rightmove House Prices (YoY) - NOV AU New Motor Vehicle Sales MoM - OCT New Motor Vehicle Sales YoY - OCT JN Industrial Production (MoM) - SEP F Capacity Utilization (MoM) - SEP F EC Euro-Zone Govt Debt/GDP Ratio - Dec 31 Euro-Zone Trade Balance sa - SEP
Tuesday 16-Nov US Advance Retail Sales - OCT Retail Sales Less Autos - OCT Retail Sales Ex Auto & Gas - OCT Empire Manufacturing - NOV Business Inventories - SEP JN Housing Loans YoY - 3Q AU Reserve Bank's Board November Minutes - Nov 15 CH China Leading Economic Index - Apr 23 UK DCLG UK House Prices (YoY) - SEP CPI (MoM) - OCT CPI (YoY) - OCT Core CPI YOY - OCT RPI (MoM) - OCT RPI (YoY) - OCT EC Euro-Zone CPI - Core (YoY) - OCT Euro-Zone CPI (MoM) - OCT Euro-Zone CPI (YoY) - OCT F GE Zew Survey (Current Situation) - NOV EC ZEW Survey (Econ. Sentiment) - NOV GE ZEW Survey (Econ. Sentiment) - NOV
Wednesday 17-Nov US Producer Price Index (MoM) - OCT PPI Ex Food & Energy (MoM) - OCT Producer Price Index (YoY) - OCT PPI Ex Food & Energy (YoY) - OCT Total Net TIC Flows - SEP Net Long-term TIC Flows - SEP Industrial Production - OCT Capacity Utilization - OCT NAHB Housing Market Index - NOV AU Westpac Leading Index (MoM) - SEP DEWR Skilled Vacancies MoM - NOV Wage Cost Index QoQ - 3Q Wage Cost Index YoY - 3Q UK Bank of England Minutes - Nov 17 Claimant Count Rate - OCT Average Weekly Earnings 3M/YoY - SEP Weekly Earnings exBonus 3M/YoY - SEP ILO Unemployment Rate (3mths) - SEP EC Construction Output SA MoM - SEP
Thursday 18-Nov US MBA Mortgage Applications - Nov 12 Consumer Price Index (MoM) - OCT CPI Ex Food & Energy (MoM) - OCT CPI Ex Food & Energy (YoY) - OCT Housing Starts - OCT Building Permits - OCT Housing Starts MOM% - OCT Building Permits MOM% - OCT NZ Producer Prices- Inputs (QoQ) - 3Q Producer Prices- Outputs (QoQ) - 3Q AU Average Weekly Wages (QoQ) - AUG Average Weekly Wages (YoY) - AUG NZ ANZ Consumer Confidence Index - NOV EC Euro-Zone Current Account nsa - SEP UK M4 Money Supply (YoY) - OCT P Retail Sales Ex Auto Fuel(MoM) - OCT Retail Sales Ex Auto Fuel(YoY) - OCT Retail Sales w/Auto Fuel (MoM) - OCT Retail Sales w/Auto Fuel (YoY) - OCT Public Sector Net Borrowing - OCT
Friday 19-Nov US Initial Jobless Claims - Nov 13 Continuing Claims - Nov 6 Leading Indicators - OCT Philadelphia Fed. - NOV RPX Composite 28dy YoY - SEP NZ Credit Card Spending SA (MoM) - OCT Credit Card Spending (YoY) - OCT JN All Industry Activity Index (MoM) - SEP GE Producer Prices (MoM) - OCT Producer Prices (YoY) - OCT |
