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MONDAY 22ND NOVEMBER 2010
NZD/USD: .7636 7802 AUD/USD: . 9736 9903 NZD/AUD: . 7841/7908 Last week As we predicted a further sell off in the currencies against the USD last week, as commodity prices fell and Ireland problems refused to go away. On top of this the USD markets rallied as the market continued to reposition itself. Ireland actually swallowed its pride and finally asked for assistance to help keep the country liquid, however the rally in the Euro was short lived, as the markets digested the fact that it wont be long before other countries are after the same bailout package and they are starting to run out of Euros. Local data was a little better than expected, but was largely ignored for bigger global concerns This week The global concerns will affect the Kiwi more than anything that will be released here this week. With the tit for tat over strong/weak USD continuing, it will be an interesting week to see where things end up. The continuing Eurozone problems will not fade so expect to see Euro under pressure Kiwi should remain within the 7630-7930 band but watch to see if AUD can continue to hold up any further gains as the market looks a little too long that pair. Fund update The final letter is now in draft awaiting final sign off.
Monday 22-Nov
Tuesday 23-Nov US Chicago Fed Nat Activity Index - OCT EC Euro-Zone Consumer Confidence - NOV A NZ RBNZ 2yr Inflation Expectation - 4Q GE GfK Consumer Confidence Survey - DEC GDP nsa (YoY) - 3Q F GDP s.a. (QOQ) - 3Q F PMI Manufacturing - NOV A PMI Services - NOV A EC PMI Composite - NOV A PMI Manufacturing - NOV A PMI Services - NOV A UK BBA Loans for House Purchase - OCT
Wednesday 24-Nov US GDP QoQ (Annualized) - 3Q S Personal Consumption - 3Q S GDP Price Index - 3Q S Core PCE QoQ - 3Q S Existing Home Sales MoM - OCT Richmond Fed Manufact. Index - NOV Minutes from Nov 2-3 FOMC Meeting AU Conference Board Leading Index - SEP CBAHIA House Affordability - 3Q Construction Work Done - 3Q JN Nationwide Dept. Sales (YoY) - OCT GE IFO - Business Climate - NOV IFO - Current Assessment - NOV IFO - Expectations - NOV UK GDP (QoQ) - 3Q P GDP (YoY) - 3Q P Index of Services (MoM) - SEP Index of Services (3mth/3mth) - SEP EC Industrial New Orders NSA (YoY) - SEP Industrial New Orders SA (MoM) - SEP
Thursday 25-Nov US Durable Goods Orders - OCT Durables Ex Transportation - OCT Cap Goods Orders Nondef Ex Air - OCT Cap Goods Ship Nondef Ex Air - OCT Personal Income - OCT Personal Spending - OCT PCE Deflator (YoY) - OCT PCE Core (MoM) - OCT PCE Core (YoY) - OCT Initial Jobless Claims - Nov 20 Continuing Claims - Nov 13 U. of Michigan Confidence - NOV F House Price Index MoM - SEP House Price Purchase Index QoQ - 3Q New Home Sales - OCT JN Merchnds Trade Balance Total - OCT AU Private Capital Expenditure - 3Q
Friday 26-Nov JN Natl CPI YoY - OCT Natl CPI Ex Food, Energy YoY - OCT CH MNI Business Condition Survey - NOV GE Import Price Index (MoM) - OCT Import Price Index (YoY) - OCT EC Euro-Zone M3 s.a. 3 mth ave. - OCT Euro-Zone M3 s.a. (YoY) - OCT
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