Tag Archives: NZD
Economy Watch – Milking It
This morning’s data on cross-border merchandise trade and people movements were about as robust as expected.
Corporate Positioning: Bracing For The Next Big Move
Exporters have significantly shortened their protection against a higher NZD. Our aggregate Exporter Hedging Index (EHI) shows that exporters have run down forward cover to 5.5 months,
The Week Ahead in FX
In the week ahead, the euro zone is to release what will be closely watched preliminary data on consumer price inflation. Switzerland is to publish data on fourth quarter growth,
Weekly CFTC Trader Positioning Data
The USD is being traded not as a broad US‐centric theme butinstead with the focus on the local domestic stories. Accordingly sentiment is favouring a fairly mixed USD performance.
Economy Watch – Inflationary Sting in PPI Tail-Off
Construction sector prices are quickening. And, just as importantly, it’s inferring a lift in margins, given the construction input price index slowed to a 1.2% annual pace in Q4.
Solid but not spectacular – NZ Retail Sales Review, Q4 2013
Retail sales rebounded less strongly than expected in the September quarter, suggesting some donwside risk to our forecast for a 1.1% lift in GDP in the quarter.
The Week Ahead in FX
In the week ahead, Japan is to release what will be closely watched data on fourth quarter economic growth. China is to produce preliminary data on manufacturing activity,
Weekly CFTC Trader Positioning Data
UPSIDE RISK FOR GBP • Markets were hesitant to build on existing positions and
Economy Watch – The Problem with Unemployment Targets
The real test for central banks is not exactly an interim unemployment rate “target”, but broader assessments of labour demand relative to available supply.
The Week Ahead in FX
In the week ahead, Fed Chair Janet Yellen is to testify on the bank’s semiannual monetary policy report in Washington. Her comments will be closely watched.
Weekly CFTC Trader Positioning Data
• Shifting risk appetite, ISM-related concerns over the pace of US growth, and central bank-driven positioning were the key themes driving sentiment this week.
Economy Watch – Jobs Boom Not Stoking Inflation, Just Yet
When we look at the entirety of today’s labour market information, we’re left with the impression that while activity is clearly accelerating,