Financial Markets Wrap

Better risk sentiment supports NZD

Jason Wong -

Some overhanging global concerns receded in October, driving risk appetite higher
Sees higher global equities and rates
NZD higher while safe-haven currencies underperform; GBP a star performer

NZD mildly weaker through September

Jason Wong -

• Stronger risk appetite saw higher equities and global rates, but the NZD weakened nevertheless…
• …with speculators taking net short positions to a record high as NZ economic data underwhelmed

Trade wars and big rate cut drag down NZD

Jason Wong -

• In August the NZD underperformed, alongside the yuan, as the US-China trade war escalated
• Global and NZ rates fell to fresh record lows