The below report consists of a market overview and insight into the equities, futures and derivatives markets, and FX speculative and deliverable markets.
* Fed cut 25bps/1.75% as expected, feels like a pause for now, “Monetary Policy in a good place”
– Key wording change, “will assess appropriate path of funds rate”
– Market reaction muted with rates +2bps, Equities and Dollar fractionally higher
* Kiwi unchanged and continues in the 0.6280/0.6420….chip away at either end
* NZDAUD closing in on the bottom of the range 0.9220/0.9400
– Expect a break lower in the medium term…