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Monday 5th July 2010
Ranges NZD/USD: .6798/7061 AUD/USD: .8325/8715 NZD/AUD: .8093/8230 Last week Once again proceedings overseas dominated last week. Everything was looking rosy at the start of the week, but then more European debt issues abounded. You can’t say safely that all the bad news is out yet and it’s not, there will be more to come. The risk trades received a firm whack as the asset markets continued to tumble. The only saving grace for NZD and AUD was the new Aussie prime Minister sorting out the mining tax issue, this gave the AUD a boost in the pants late in the week and Kiwi climbed along for the ride. The US nonfarm, payrolls or employment data out on Friday was worse than expected but not that significant. What we did Still awaiting further trend and a few more extreme moves This week Thanks Giving Day in the States so it will be a quiet start to the week with nothing really happening tomorrow. I know it sounds like a broken record but the world will continue to watch the Europeans and the asset markets to determine where what goes which way next. Kiwi looks like it’s found a range so there should be some nice trading parameters coming in. What we will do Trade the range of last week but only at the extremes so as not to get cut up in the noise. THE WEEK AHEAD Mon 5 Jul Aus Jun TD-MI Inflation Gauge Jun ANZ Job Ads US Independence Day Holiday – – – Markets closed. Eur Jun PMI Services . May Retail Sales Jul Sentix Investor Confidence UK Jun PMI Services
Tue 6 Jul NZ Q2 NZIER Business Confidence Aus Jul RBA Policy Decision May Int’l Trade Balance US Jun ISM Non-Manufacturing Can May Building Permits .
Wed 7 Jul US Fedspeak – – – Kocherlakota speaking in Canada on economy, regulation. Eur Q1 GDP (F) Ger May Factory Orders UK Jun BRC Shop Prices Can Jun Ivey PMI nsa
Thu 8 Jul Aus Jun Employment chg Jun Unemployment Rate US Initial Jobless Claims Jun Chain Store Sales %yr May Consumer Credit Jpn May Machinery Orders May Current Account Jun Bank Lending Eur ECB Rate Decision Ger May Industrial Production UK BoE Rate Decision May Industrial Production Can May New House Prices
Fri 9 Jul NZ J un Electronic Card Transactions US May Wholesale Inventories UK May Visible Trade Balance Jun Producer Prices Can Jun Employment chg Jun Housing Starts
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