The below report consists of a market overview and insight into the equities, futures and derivatives markets, and FX speculative and deliverable markets.
*Is Bitcoin the new gold ?? up a staggering 21% o/n & up 270% in 2 months
-Facebook’s endorsement of the crypto world clearly having “ripple” effects
*Kiwi continues to push higher post OCR, next resistance 0.6720
-importers running out of cover, should start chipping away
*RBNZ gave explicit easing bias & expect an August cut, almost fully priced
-bottom line, if the world is cutting rates the RBNZ will follow….
*NZDAUD well out of previous…