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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 |
