Nzd usd

[beacon]

RBNZ winning with its pause

ASB’s Smith says the bank expects the unemployment rate to move below its maximum sustainable level by the end of next year. This should temper wage increases and significantly dampen pressures on core inflation.

Westpac senior economist Darren Gibbs says indicators suggest that employment growth has begun to slow in recent months... domestic inflation will moderate by enough to allow overall CPI inflation to move back into the target range over the coming year or so.

Jarrod Kerr, Kiwibank chief economist, says there are clear signs the tight financial conditions are already restraining demand.
https://tmmonline.nz/article/9765224...+any+time+soon

[beacon]

New Zealand and Auckland house prices: Analyst CoreLogic says downturn is officially over
https://www.nzherald.co.nz/nz/new-ze...GDFDG627DMMZM/

[Daytr]

Bankruptcies up 40% yoy.
Some Dairy farmers will report a loss this year according to the RBNZ.
Power bill late payments rise.

More pain to come I think as more borrowers move onto the new interest rates.

Equities typically trade the future I.e what's the outlook over the next 12 months. Currencies tend to be more in the now imo.

[winner69]

Unemployment print 3.9%

Should help NZD

[Daytr]

Unemployment print 3.9%

Should help NZD

Sorry why should this support the NZD?

[beacon]

Where it will end week ……..maybe .5725 if no clear indication of make up of new people government

National’s Christopher Luxon to negotiate with Act and Winston Peters
https://www.nzherald.co.nz/nz/nz-ele...IZAKJTFUDFZUE/

“Now we can get cracking,” Luxon told reporters... “We are working constructively with both parties. We are going to come together and form a strong stable government,” Luxon said.

Peters said NZ First wanted negotiations to be conducted with urgency. “What can we agree on ... we can’t all get what we want, we have to get a sound much much better government underway,” Peters told the Platform.

They'll keep each other in check, but not a bad result overall. Just a delay of another week or two... Seems like the markets expected that...

[Daytr]

Nothing to with NZ.
NZD ripped higher on softer employment data out of the US seing bond yields slide.

[winner69]

Nothing to with NZ.
NZD ripped higher on softer employment data out of the US seing bond yields slide.

Jeez, 60 cents

Since NZ employment data and now US data nzd up 2 cents …..suppose that’s good

[beacon]

NZD breached $0.58 USD in October 2023, which is its lowest level in almost a year. Things must get a lot worse for NZ, for NZD to stay under .6 with any longevity (which I don't see happening in the near term).

Finally, some rationality returning to market

[beacon]

Despite the current jawboning, Reserve Banks around the world are looking for an excuse to cut. A strong USD is hurting everyone, including I suspect the US, and refinancing interest rates are beginning to bite global borrowers harder - including in US.

Bill Gross sees lower interest rates ... offering a tailwind to stocks
https://www.cnbc.com/2023/11/02/bill...nk-stocks.html