NZ PSI expansion slows
New Zealand’s Performance Services Index expanded at a slower pace in November, falling to 54.1 from a revised 58.1 previously.
A reading above 50 represents expansion
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NZ consumer confidence rises
New Zealand’s consumer confidence rises to 111.1 in 4th quarter from 102.5 in the July – September period, its highest level since the 3rd quarter
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China’s HSBC PMI edges higher
The HSBC flash Purchasing Managers Index for December rose more than forecast to 50.9 from 50.5 in November.
The latest figure was a 14 month high
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Jobless rate falls as retail sales rebound
Unemployment claims fell for a 4th consecutive week and to a 9 week low of 343,000 down by 29,000 from the prior week. The fall follows the
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US trade deficit widens
A slump in exports by the most in nearly 4 years, outweighing the fall in imports, saw the trade deficit grow 4.9% to USD42.2 billion
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NZ House prices & sales continue to rise
New Zealand house prices continued to climb in November, with the median up 4.3% from the same month last year.
Home sales surged 24% from a
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Australian business confidence plunges
Australian business confidence plunges to lowest level since 2009. The confidence index dropped to -9 from -1 in Oct.
More RBA rate cuts imminent.
NZ card spending continues rise
Card spending in New Zealand, which includes debit, credit & store cards rose 0.5% from October when it increased by 0.4%.
Core spending which excludes sales
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Japan slipping towards recession
Japan’s economy contracted by an annualised 3.5% in the July to September quarter increasing the risk of the world’s 3rd largest economy going into recession
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Meat & Dairy manufacturing negates weak volumes
Q3 declines in 8 out of 13 sectors but was offset by a surge in meat & dairy manufacturing.
Manufacturing increased 2.6% in 3rd quarter after
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RBNZ continue ‘lower for longer’ theme
New Reserve Bank of New Zealand Governor Graeme Wheeler maintained the central banks lower for longer theme on the OCR saying ‘the overall outlook is
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China shows signs of improvement
China had positive data out in the form of industrial production production up over 10% from this time last year & retails sales up nearly
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ECB lowers forecasts
The European Central Bank lowered its economic forecast for the Eurozone whilst also looking at the possibility of cutting the main interest rate which currently
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Federal Reserve starts 2 day meeting
The Federal Reserve has started its 2 day meeting where it is widely anticipated that some form of austerity is likely to be added believing
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Euro rallies
The Euro rallied to a near one month high reaching 1.2748 as a European Official said that ‘a politically acceptable path will be sought for
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New Government by Wednesday
Greece’s plans to form a coalition government could be in place by Wednesday, European time with the New Democracy, Pasok and the Democratic Left parties
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Kiwi & Aussie dollars strengthen
The Australian and New Zealand dollars rose as an election victory by supporters of Greece’s bailout eased concern the nation will leave the euro bloc.
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New Democracy looking for large coalition
With almost all ballots now counted, New Democracy has 29.7% of the vote (129 seats), Syriza 26.9% (71) and Pasok 12.3% (33). There are 300
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RBNZ will hold for longer
Reserve Bank ofNew ZealandGovernor Alan Bollard confirmed that the OCR will remain at 2.5% for a 15 consecutive month & that it is likely to
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All eyes on Greece
This weekend’sGreeceelections will take centre stage although onNew Zealandwe will not know the result until early next week. It is anticipated that the Greek electorates
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US CPI lower
The US Consumer Price Index was lower igniting suggestions that the Federal Reserve may once again take action to bolster their economy at next week’s
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Euro rises
The Euro moved higher after Greece’s incumbent leader said they will do all they can to form a new government after the elections on Sunday
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RBNZ keeps OCR at record low
The Reserve Bank of New Zealand have once again kept the Overnight Cash Rate at 2.5% whilst continuing with the ‘lower for longer’ theme. It
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Spanish yields rise again
The yield on Spanish 10 year bonds rose to a record high 6.86% as investors become twitchy over the details of the €100 billion bailout
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The rise & fall of the NZD & AUD
The Kiwi & Aussie dollars both climbed yesterday after the news of the Spanish bailout before retreating on the new jitters investors have over Europe.
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Contagion fears knock Euro
The Euro fell once again as fears the Euro region debt crisis is engulfing its members. As Spain received a €100 billion bailout for its
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Draghi – Europe ready to act
European Central Bank President Mario Draghi said policy makers were ‘ready to act’ after leaving their benchmark rate at a record low at the ECB
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Spanish Bonds rise
Spanish bonds rose this week, driving down the yields as optimism that Mario Ranjoy, Spain’s Prime Minister will gain support with European leaders on financial
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Australia’s economy strong – Swan
Australia’s Treasurer Wayne Swan identified last weeks economic growth of 4.3% for the quarter together with adding nearly 40,000 jobs as standout achievements by the
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Fitch downgrades Spain
ne of the ‘big 3′ ratings agencies Fitch Ratings has downgraded Spain by 3 notches to BBB from A, blaming a ‘serious mishandling’ of the
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China cuts rate for 1st time in 4 years
China cut their interest rate by 0.25% to 3.25% for the first time since 2008. The People’s Bank of China also gave banks a greater
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GBP strengthens as BoE hold
The Bank of England refrained from increasing their Bond purchase program, keeping it at £325 billion (USD 550 billion) whilst also keeping their benchmark interest
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Aussie GDP surges helping the AUD
Australian GDP grew at more than twice the pace economists estimated sending the Aussie dollar higher. The figure for the first quarter advanced 1.3% compared
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ECB President ready to act
European Central Bank President Mario Draghi said together with the other European policy makers are ready to make moves to ease the debt crisis. Draghi
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US stocks rise
US sharemarkets climbed on improved sentiment as The Institute for Supply Management’s index (ISM) of non- manufacturing businesses, which covers about 90 percent of the
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Aussie rises after rate cut
The Australian dollar moved higher yesterday even though the Reserve Bank of Australia cut its cash rate by another .25% to move it down to
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Milk Prices rise for the first time in two months
International milk prices rose for the first time in two months in the latest global auction, New Zealand’s Fonterra Cooperative Group, the world’s biggest dairy
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AUD declines 2.6% this year
So far this year, the Aussie dollar has had the biggest decline against all other major currencies, falling by 2.6% as the ‘risk off’ sentiment
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Euro rises on fresh optimism
The Euro climbed from its lowest level against the USD since July 2010 on renewed optimism that European leaders are nearing a solution on greater
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US stocks rebound on Greece optimism
US shares have moved higher over optimism that the situation in Greece is improving but the mood was tempered by disappointing US data as the
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Yen reaches an 11 year high vs. Euro
The Japanese Yen has reached an 11 year high against the Euro touching 96.51 as the currency is still regarded as a safe haven amid
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RBA to lower interest rate to record low
According to Westpac’s chief economist, the Reserve Bank of Australia will cut their cash rate by a quarter percentage point for 3 consecutive months to
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Greek poll shows desire to remain in the Euro
An opinion poll in Greece showed that 77% of those questioned want to remain in the Euro but with revised austerity terms. However, over 50%
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Aussie dollar down as Retail Sales fall
Australian retail sales declined 0.2% vs. an estimate of a 0.2% increase causing the AUD to lose 0.5% to .9700 against the USD strengthening the
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Spain concerns weigh on the Euro
Worries over Spanish banks have seen the Euro slide to near its lowest level in 2 years. The European Commission has come out & called
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Euro falls by most in 2012
The Euro fell by over 2% this week, it’s biggest weekly fall since December, as the issue of Greece continued to weigh on the shared
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NZD & AUD move to 2012 lows
The Kiwi & Aussie dollars fell to their 2012 lows as investors remain pessimistic over the Euro regions two day meeting. The Kiwi dropped below
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Fitch Ratings downgrades Japan economy
Rating agency Fitch has downgraded Japan’s credit two notches from AA to A+ on concerns over their high levels of debt. They also warned that
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Fonterra says Dairy Price slump near end
The CEO of Fonterra believes that dairy prices, which are at their lowest level since October 2009, will start to pick up at the next
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Japanese Yen weakens on BOJ speculation
The Japanese Yen fell as talk of the Bank of Japan intervening once again surfaced. BOJ official are due to meet for a two day
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Eurobonds to be discussed
New French President Francois Hollande is planning on talking up the possibility of Eurobonds once again at a Brussels summit this week. Hollande spoke of
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German & UK yields drop to record levels
German 2, 5, 10 & 30 year bunds all reached record levels, while U.K. government bonds also advanced for a fourth week, driving 5 and
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Euro to drop further vs. USD
The Euro is set to continue its fall as the market waits for the June 17 re election in Greece. The Euro has dropped over
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Fed may twist again
According to the minutes of April’s Fed meeting, Ben Bernanke, Chairman of the Federal Reserve may see another round of Operation Twist as preferable than to
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UK to continue with Austerity
UK Prime Minister David Cameron states that his Government with not be deterred from their Austerity plans as Euro members’ failure to deal with the
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ECB stops loans to some Greek banks
The ECB has said it will stop lending to some Greek banks in the short term to shift the responsibility back to the Greece Central
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NZD & AUD rise on belief drop excessive
The NZD & AUD climbed 0.5%, as the recent fall in their value, hitting 5 month lows, was deemed too much too quickly by the
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Facebook to increase share offering by 25%
Facebook the social networking site said it will offer 25% more shares in its Initial Public Offering this Friday US time due to increased demand.
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Germany & France leaders offer support for Greece
As Greece prepares to head back to the Polls in June the leaders of Germany and France offered support for growth measures for Greece. Angela
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UK Pound drops vs USD after Bank of England cuts forecasts
The UK Pound dropped sharply overnight after the Bank of England slashed its growth forecasts and said the UK economy is likely to stay subdued.
Greece may choose to leave the Euro
There are growing signs that Greece may elect to leave the Euro as political parties struggle to form a united Government that would support the
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US job position rise to highest level in nearly 4 years
US employers had the most open positions since 2008 as confidence continues to grow in the US economy.
There was a total of 3.74 million available
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Australian Government to return to surplus in 2012/13
Australia treasurer Wayne Swan announced the latest budget overnight forecasting a return to surplus for the financial year 2012/13. A mixture of spending cuts and
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NZ Government Accounts update
The New Zealand Government today gave an update on its current financial position stating that the deficit is NZ $6.13 billion, whilst New Zealand’s debt
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Merkel says the EU’s Fiscal Policy is not up for renegotiation
German Chancellor Angela Merkel stated that the Fiscal Pact agreed with outgoing leaders was not up for renegotiation now that new leaders are coming into
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Oil falls to it lowest level of 2012
The price of Oil hit its lowest price of the year on Monday, after election results jeopardised the potential recovery.
The Eurozone consumes 18% of the
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Warren Buffet says it’s not all about me
Warren Buffet, CEO of Berskshire Hathaway, held the company’s AGM & stressed that it is about the company not him, as this was his first
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Oil Plunges 4.0% ahead of new trading Rules
The price of Crude Oil fell sharply on Friday night ahead of new trading rules coming into effect today. As of today the Chicago futures
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US Jobs data below Expectations
Friday night saw US Non-farm Payrolls record a gain of 115,000 people in April, a solid result but below expectations of a +160,000 gain. Adding
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Greek Voters very divided
Greek voters showed just how divided the country has come after years of austerity and two IMF led bailouts. There are four parties vying to
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France Votes Left – Raises question for Germany
Voters in France and Greece moved to the left over the weekend. The French voted in a new socialist President Francois Hollande who defeated Nicholas
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European Central Bank ready to take more action if required
ECB head Mario Draghi said “We saw stabilizing economic activity at low levels in the first three months” of the year, and “the most recent
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US Payrolls tonight to be the big focus
A US Labor Department report tomorrow will show U.S. nonfarm payrolls added 160,000 jobs last month, after hiring 120,000 in March, according to the median
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NZD Drops sharply after Unemployment rate rises
The New Zealand dollar fell to its lowest level in more than three months after a report today showed the jobless rate unexpectedly rose.
The so-called
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Euro steady ahead of French, Greek Elections
Euro steady ahead of French, Greek Elections – European Central Bank sees growth and austerity as compatible?
Chicago Futures Exchange raising margins for Non Hedged Positions
Chicago Futures Exchange raising margins for Non Hedged Positions – will impact speculators who will have to put up more money to trade, commodities, currencies
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Facebook valuing itself at USD 96 Billion in Share Float
Facebook the world’s most popular social-networking site, is valuing itself at as much as $96 billion in its initial public offering, the largest on record
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