Any New Zealanders looking to get over to Brazil will be pleased to learn that they have just over 1% more purchasing power, with the NZD stronger by 1% across...

Chris Weston

Pepperstone

Any New Zealanders looking to get over to Brazil will be pleased to learn that they have just over 1% more purchasing power, with the NZD stronger by 1% across the G10 space as well. The major event risk has now passed, with the RBNZ forecasting that three-month bills should be at 4% by year-end. Given the swaps market was pricing in 61 basis points (some 14 basis points discount to the RBNZ forecast) you can see why the kiwi has been heavily bid today. Short-term positioning plays a huge role in trading and while the market was clearly positioned for a more nuanced approach from the central bank (given recent soft diary prices and better migration), the reality was that we are left with a central keen to push interest rates to more neutral levels. (VIEW LINK)


MORE ON



Head of Research
Pepperstone

Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.