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NZ Jobs Data Rallies the Kiwi

Market Overview

  • Worldwide coronavirus cases surpass 104.3 million with over 2,261,000 official deaths.
  • US Equity markets continue to register record levels with the DOW and Nasdaq both up over 1.5% overnight.
  • The US Senate has voted in favour of moving ahead with his 1.9T coronavirus relief stimulus plan.
  • The RBNZ are no longer interested in cutting rates this year after a bumper unemployment read of 4.9% unemployment earlier today.
  • The Reserve Bank of Australia have raised their bond buying program by 100B but made comment the Australian economy is well underway to recovering earlier than predicted.
  • AstraZeneca vaccines are showing an 82.4% efficacy rate after a 3 month gap between jabs.

Major Announcements last week:

  • Australian CPI q/q came in at 0.9% from the 0.7% predicted
  • The US Federal Reserve left rates unchanged at 0-0.25%
  • US Advanced GDP released at 4.0% from 4.2% predicted
  • German prelim GDP q/q released at 0.1% much lower than the September quarter 8.2%
  • US Manufacturing Index printed at 58.7 remaining firm
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