Scoop has an Ethical Paywall
September 24 issue of the BNZ Weekly Overview
Welcome to the September 24 2009 issue of the BNZ Weekly Overview.
The NZD traded briefly above 73 cents this week driven higher by the official ending of the country’s recession, better than expected current account data, and Fonterra’s bigger than expected payout revision. While the NZD seems to have got ahead of the fundamentals, we think it still remains unreasonable to expect a solid pullback unless there is a major deterioration in the world economic outlook. That has not been a likely outcome since March and remains a low probability direction.
The good economic data have also pushed wholesale interest rates up and as has been the case since March risks for housing fixed interest rates remain on the upside.
ENDS
Advertisement - scroll to continue reading
John Mazenier: Gaffer Tape And Glue Delivering New Zealand’s Mission Critical Services
Earthquake Commission: Ivan Skinner Award Winner Inspired By Real-life Earthquake Experience
Reserve Bank: Consultation Opens On A Digital Currency For New Zealand
NIWA: Ship Anchors May Cause Extensive And Long-lasting Damage To The Seafloor, According To New Research
New Zealand Customs Service: A Step Forward For Simpler Trade Between New Zealand And Singapore
Horizon Research: 68% Say Make Banks Offer Fraud Protection
