The below report consists of a market overview and insight into the equities, futures and derivatives markets, and FX speculative and deliverable markets.
* FOMC no change and policy stance appropriate
– Equities, Dollar and rates all marginally lower
* Kiwi has pushed on overnight as a result but the Fiscal update had no real impact
– shorts continue to be squeezed, market keen to sell around 66cts
– Great to be spending when rates so low but on what?
– By keeping it a secret and using as an election bribe… it definitely is…