NZ Dollar Rallies as RBNZ Holds Rates
THE TAKEAWAY: RBNZ holds rates at 2.50% > RBNZ wait-and-see approach contrasts with RBA’s dovish bias > Kiwi strengthens
Strategies
Fed Rate Unchanged
Federal Reserve Plans to Continue Holding Hold Interest Rates Steady ‘Until Late 2014
USD Outlook Still Bullish but In-House Index Keeps Us Sidelined for Now
Euro remains very well supported on dips Retail positioning still looking for USD strength Cable and Cad SSI ratios stand out and warn of more USD weakness UK GDP data much softer; opens intraday underperformance in Pound Key event risk later today in the form of the FOMC rate decision We have yet to see any real justification for the latest Euro rally, but at the same time, would not
Sterling Takes Heavy Losses as UK Falls Back into Recession
THE TAKEAWAY: Negative UK GDP growth in Q1 2012 -> Sterling under pressure as data diminishes confidence Great Britain’s Gross Domestic Product contracted in the first quarter, pushing the UK into its first double-dip recession since the 1970s. The report is expected to increase pressure on UK officials, most important PM David Cameron who has faced criticism for promoting austerity instead of government stimulus.
Breaking News – Durable Goods Orders
Durable Goods Orders Fall 4.2% in March
Break News
Two big Dow names hit the ball out of the park on first quarter earnings announcements.
Breaking News
Sprint beat analysis expectations
Breaking News SAP Earnings
Germany based Sap AG (SAP, quote) posted its 9th Consecutive Quarter of Double-Digit Growth in Non-IFRS Software and Software-Related Service Revenue.
Credit Suisse Adds to Focus List
The Credit Suisse Investment Policy Committee (IPC) is adding
Commodity Settlement Report
Tuesday April 24 Commodities Review