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Commitment of traders report (COT): Yen traders are increasingly bullish
The divergence between market positioning and yen futures pricing continues to widen, with large speculators piling into fresh long bets and dragging net-short exposure lower.
NZDUSD remains grounded despite a third straight 50bp RBNZ rate hike
The Reserve Bank of New Zealand has today raised the Official Cash Rate by 50 basis points to 2.50%. It was the RBNZ’s third straight 50bp hike in a row, in a tightening cycle that started back in October.
RBNZ Preview and what next for the NZDUSD
At its meeting on Wednesday, the Reserve Bank of New Zealand is widely expected to raise the Official Cash Rate by 50 basis points taking the cash rate to 2.50%. It will be the RBNZ’s third straight 50bp hike in a row, in a tightening cycle that started back in October.
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NZ CPI hits a 32-year high, but is it enough for an imminent hike?
Despite another strong inflation report for New Zealand, it was below expectations which leaves traders questioning when (and by how much) RBNZ’s next hike will be.
Weekly COT report: Fastest pace of AUD short covering since March 2020
Last week, AUD shorts were culled at their fastest pace since March 2020, when eye watering levels of stimulus was rolled out at their height of the pandemic.
Weekly COT report: Managed funds most bullish on gold since March 2020
Gold is clearly back in fashion thanks to the combination of forthcoming Fed hikes and the Ukraine crisis, with futures markets within easy reach of a record high.
Weekly COT report: Divergences form between FX prices and trader positioning
As the data was compiled ahead of the FOMC meeting its likely there are some distortions in this week’s speculative positioning report.
Weekly COT Report: NZD flips to net-short as bulls capitulate
Kiwi bulls appeared spooked last week as we saw gross longs closed at their second fastest rate on record.
Asian Open: AUD/CAD Looks Set to Head South
Lower trading volumes due to Thanksgiving in the US made for a quiet session overnight, but that didn’t prevent the AUD/CAD cross making a ‘break’ for it.
NZD Pairs Ride the Yield Differential Wave
The Kiwi dollar continues to go from strength to strength, as traders anticipate at least one more 25 bps hike at their meeting later this month.
Weekly COT Report: Market Positioning Hintsat Lower Yields
Whilst net exposure to US 10-year treasury notes were at their most bearish level since the Pandemic began, CFTC data shows it is a function of longs covering.
NZD explained: A guide to NZD
NZD is the currency of New Zealand and is involved in some significant forex pairs. Discover everything you should know about NZD before you open a position.
European Open: Volatility Hints at an Upside Break for the S&P 500
A volatile candle seen during yesterday’s session has us on guard for a potential bullish breakout on the S&P 500 futures market today.
NZ Q2 GDP data smashes expectations and boosts NZDUSD
In today's first instalment of an Antipodean data double header, New Zealand Q2 GDP smashed expectations, expanding by 2.8% after a 1.4% rise in the March quarter.
Asian Open: Oil’s Rally and Strong Inflation Support the Canadian Dollar
After what felt long a long wait, oil prices finally broke out of their ranges after teasing bulls with an upside breakout since last week.
NZDUSD treads water ahead of Thursdays Q2 GDP data release
Global new covid cases are continuing to fall. China and Japan have seen a sharp fall in new cases. In NSW, the numbers are finally heading in the right direction, and in New Zealand, the seven-day rolling average has fallen from 66 at the end of August to 22.4.
Why the Dow Jones and the NZDUSD appear vulnerable
The month of September is statistically the weakest month of the year for U.S equities. The average decline in September over the past ten years has been -0.60%. Negative prints can be observed in five of the ten years, including a -7% fall in 2011, a -2.5% fall in 2015, and a -4% fall in 2020.
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European Open: China Services PMI Follows Manufacturing Lower
China’s strict lockdown measures have also seen the service sector contract, which points to slower growth for the world’s second largest economy.
Asian Open: Consumer Sentiment Slumps, NZD Up as COVID Cases Fall
Another consumer survey in the US fell notably in August, backing up the earlier University of Michigan Consumer Survey’s dire print.
Asian Open: S&P 500 Hits 50th Record High This Year (Just)
Wall Street rose marginally to new highs on relatively light volumes ahead of tomorrow’s speech form Jerome Powell, at the Jackson Hole Symposium.
Extended NZ lockdown to overshadow strong retail sales and keep NZDUSD suppressed
The grey clouds that enveloped New Zealand last week and caused the RBNZ to defer its highly anticipated rate rise on Wednesday have darkened today.
Delta hinders plans for RBA to taper and highlights fragility of RBNZ tightening cycle
In another volatile session in Asia as the spread of delta variant intensifies across the region, the minutes from the RBA's August meeting outlined what might cause the RBA to reconsider its decision to taper its QE program.