Tag Archives: NZD
Outlook for Borrowers: Post June MPS
The RBNZ raised the Official Cash Rate (OCR) by 0.25% at its 12 June meeting, to 3.25%. It remained committed to the process of ‘normalising’ the OCR,
Leveraged Funds’ Bet Against EUR Highest Since May 2013
The following are the key points in ANZ’s analysis for the latest speculative positioning report (positioning data is for the week ending 10 June.
The Week Ahead in FX
In the week ahead, investors will be focusing on the outcome of Wednesday’s Federal Reserve policy meeting, while Monday’s preliminary report on euro zone inflation will also be closely watched.
Weekly CFTC Trader Positioning Data
• This week there was a surge in bearish EUR sentiment while most other position changes paled in comparison.
Performance of Manufacturing Index (PMI) – Middling May
Although still in positive territory, a second consecutive slowdown in expansion meant the manufacturing sector was at similar levels last seen over a year ago,
RBNZ: Still Singing The Same Tune
We saw nothing today to change our view that this tightening cycle has a long way to run before it’s all over and done with.
RBNZ Raises OCR 25bps
The Reserve Bank of New Zealand increased the official cash rate to 3.25% from 3.0% as expected, but is now projecting a slightly more gradual run of increases than anticipated in March.
The Week Ahead in FX
In the week ahead, investors will be looking ahead to Thursday’s U.S. retail sales report for further indications on the strength of the U.S. recovery.
Weekly CFTC Trader Positioning Data
• Sentiment continues to diverge with building bearish EUR andJPY positions and steadily bullish AUD, NZD, MXN and GBP holdings.
A macro model for Kiwi
What drives the NZD? The NZD is at post-float highs and is one of the highest returning G10 currencies to date this year.
Leveraged Funds Increasing Their Bets Against EUR, CHF
Leveraged funds increased their short bets against the EUR on expectations of policy easing at the upcoming 5 June meeting.
The Week Ahead in FX
In the week ahead, investors will be looking to Friday’s U.S. nonfarm payrolls report for May for further indications on the strength of the labor market,