The below report consists of a market overview and insight into the equities, futures and derivatives markets, and FX speculative and deliverable markets.
* Kiwi continues to defy the local economy and Governor Orr’s wishes….
– today’s Official Cash Rate expect him to comment about elevated levels, TWI 71.70
– actions speak louder than words though and an uphill battle to stem the tide
* Overnight saw fresh NZD highs, but has since retreated below 65cts as risk on
– remains beholden to Equities and risk along with US dollar moves…so trend continues??
* NZDAUD 92-94cts