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MONDAY 14TH JUNE 2010
Ranges
NZD/USD: . 6579/6906
AUD/USD: . 8085/8545
NZD/AUD: . 8034/8134
Last week
Last week was dominated by a square up in the risk trades. With Euro, AUD and Kiwi rallying strongly at the end of the week. Events here at home were as predicted with a small rise in the OCR as the RBNZ raised rates to 2.75%. Then some good data out of Aussie really got the ball rolling as risk trades were re-entered.
With the market now pretty square risk trades it will be interesting to see where things head from here
What we did
Stayed pretty square as the market was at some key pivot points
This week
The theme of keeping risk on the table will continue throughout this week unless we get some more bad news out of Europe but as we said the market is now reasonably square on the whole risk trade so moves should be less violent from here.
Lots of technical levels have been reached now as the markets have rallied into the resistance levels.
Watch the Dow this week for further moves but I think that the market will take a slight break for a bit to digest the moves over the past few weeks.
What we will do
Watch for further developments and see whether or not the big levels can be broken.
DATA FOR THE WEEK AHEAD
MONDAY 14-Jun
NZ Performance Services Index - MAY
Retail Sales (MoM) - APR
Retail Sales Ex-Auto (MoM) - APR
JN BSI Large All Industry (QoQ) - 2Q
BSI Large Manufacturing (QoQ) - 2Q
BoJ Monetary Policy Meeting - JUN
Industrial Production (MoM) - APR F
Capacity Utilization (MoM) - APR F
EC Euro-Zone Ind. Prod. sa (MoM) - APR
TUESDAY 15-Jun
NZ REINZ House Sales YoY% - MAY
REINZ Housing Price Index MoM% - MAY
UK RICS House Price Balance - MAY
AU Reserve Bank's Board Minutes - JUN
NZ Non Resident Bond Holdings - MAY
JN BOJ Target Rate - JUN
UK CPI (MoM) – MAY
CPI (YoY) – MAY
Core CPI YOY - MAY
DCLG UK House Prices (YoY) - APR
EC ZEW Survey (Econ. Sentiment) - JUN
Euro-Zone Trade Balance sa - APR
Eurozone Employment (QoQ) - 1Q
GE ZEW Survey (Econ. Sentiment) - JUN
Zew Survey (Current Situation) - JUN
WEDNESDAY 16-Jun
US Import Price Index (MoM) - MAY
Empire Manufacturing - JUN
Net Long-term TIC Flows - APR
Total Net TIC Flows - APR
NAHB Housing Market Index - JUN
UK Nationwide Consumer Confidence - MAY
AU Westpac Leading Index (MoM) - APR
Dwelling Starts - 1Q
JN BOJ Monthly Report - JUN
Machine Tool Orders (YoY) - MAY F
UK Claimant Count Rate - MAY
Jobless Claims Change - MAY
Average Weekly Earnings 3M/YoY - APR
ILO Unemployment Rate (3mths) - APR
EC Euro-Zone CPI (MoM) - MAY
Euro-Zone CPI (YoY) - MAY F
Euro-Zone CPI - Core (YoY) - MAY
Euro-Zone Labour Costs (YoY) - 1Q
THURSDAY 17-Jun
US Producer Price Index (MoM) - MAY
PPI Ex Food & Energy (MoM) - MAY
Housing Starts - MAY
Housing Starts MOM% - MAY
Building Permits - MAY
Building Permits MOM% - MAY
Industrial Production - MAY
Capacity Utilization - MAY
AU RBA Foreign Exchange Transactions - MAY
NZ ANZ Consumer Confidence Index - JUN
JN Leading Index CI - APR F
Coincident Index CI - APR F
EC ECB Publishes June Monthly Report - JUN
UK Retail Sales Ex Auto Fuel(MoM) - MAY
Retail Sales w/Auto Fuel (MoM) - MAY
EC Construction Output SA MoM - APR
US Consumer Price Index (MoM) - MAY
CPI Ex Food & Energy (MoM) - MAY
Consumer Price Index (YoY) - MAY
CPI Ex Food & Energy (YoY) - MAY
Initial Jobless Claims - JUN 12
Continuing Claims - JUN 5
Current Account Balance - 1Q
Philadelphia Fed. - JUN
Leading Indicators - MAY
JN BoJ Monetary Policy Meeting Minutes - MAY
GE Producer Prices (MoM) - MAY
Producer Prices (YoY) - MAY
UK Major Banks Mortgage Approvals - MAY
Public Finances (PSNCR) - MAY
Public Sector Net Borrowing - MAY
M4 Money Supply (MoM) - MAY P |
