The below report consists of a market overview and insight into the equities, futures and derivatives markets, and FX speculative and deliverable markets.
* RBNZ dragged to the party with 75bps cut, “FINALLY”….
– clearly the Government told Orr to get on with it, given what was he waiting for?
– agreed to keep rate at 0.25% for at least 12 months ….good news!!
– suggests next move would need to be “unconventional Monetary Policy”, i.e. Q/E?
– Kiwi responded on the announcement dropping 1ct and post cut remains sub 60cts
* Countries responding but…