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JP Morgan - Latest News [Page 17]
Trade Balance Remains In Surplus
Tuesday, 26 May 2009, 11:56 am | JP Morgan
New Zealand’s trade balance remained in surplus for the third straight month in April, though narrowed to NZ$276 million (J.P. Morgan NZ$600 million, consensus NZ$250 million) from NZ$447 billion in March (revised up from NZ$324 million). The surplus ... More >>
Aus and NZ - economic data and event previews
Monday, 25 May 2009, 12:29 pm | JP Morgan
NZ trade balance (NZD, mn.) - The trade balance should widen to NZ$600mn in April, mainly owing to fewer imports. Domestic demand remains sluggish, and imports of consumption goods, in particular, should be very weak. RBNZ two year inflation expectations (2Q, ... More >>
Pipeline price pressures eased sharply in NZ Q1
Monday, 18 May 2009, 12:59 pm | JP Morgan
Pipeline price pressures eased sharply in New Zealand in 1Q Input prices fell most on record in 1Q • Output prices fell for first time in two years • RBNZ has plenty of scope to ease monetary policy More >>
Australia and New Zealand - economic data and even
Monday, 18 May 2009, 12:56 pm | JP Morgan
Speech by Aust. RBA Governor Glenn Stevens - Governor Stevens will deliver a speech to the Canadian Australian Chamber of Commerce. He will compare notes on recent experiences in Australia and Canada, which presumably means dwelling on the strength of the Aussie ... More >>
NZ retail sales values fall, volumes plunge
Friday, 15 May 2009, 12:15 pm | JP Morgan
Today's New Zealand retail spending report for the month of March and the March quarter produced mainly weak results. The value of retail sales in March dropped 0.4% (JPMorgan -0.6%, consensus 0.5%), although sales ex-autos rose more than expected. Importantly, ... More >>
RBNZ "disappointed" banks fail to pass on OCR cuts
Wednesday, 13 May 2009, 2:48 pm | JP Morgan
The RBNZ released its six-monthly Financial Stability Report today which said that, unlike many other developed countries, New Zealand had not experienced significant distress in its banking sector, nor had credit availability tightened to the same ... More >>
Commonwealth Budget - Swan Diving into the Red Sea
Wednesday, 13 May 2009, 9:29 am | JP Morgan
Budget deficit of A$57.6 billion (4.9% of GDP) in 2009-10; revenues collapsing as expenditure soars • Government borrowing to blow out to A$301 billion by 2013; bond issuance to balloon • Government belatedly admits that Australia is in recession; ... More >>
Australia and New Zealand - Weekly Prospects
Monday, 11 May 2009, 12:05 pm | JP Morgan
The key event in Australia this week will be on Tuesday night, when Treasurer Wayne Swan delivers his second Budget. With government revenues collapsing, yet ever growing demands on the public purse, the Budget will plunge into what the Treasurer describes ... More >>
Research Note - RBNZ: where to next?
Monday, 11 May 2009, 12:03 pm | JP Morgan
RBNZ Governor Alan Bollard on April 30 cut the official cash rate (OCR) 50bp to a record low 2.5%, citing deteriorating global conditions. The statement was unexpectedly explicit in suggesting that the official rate will be kept low until the end of 2010. ... More >>
Aus, NZ economic data and event previews
Monday, 11 May 2009, 11:33 am | JP Morgan
NZ retail sales (%m/m, Mar.) - Retail sales values probably fell 0.6%m/m, and the tend should continue to fall, extending the most prolonged period of decline on record. Consumers have become increasingly reluctant to spend amid widespread recession fears ... More >>
Unemployment rate rose to six year high in 1Q
Thursday, 7 May 2009, 12:47 pm | JP Morgan
*Employment contracted 1.1%q/q in 1Q *Unemployment rate rose to 5.0% *Labour force participation rate tumbled Employment in New Zealand contracted 1.1%q/q in 1Q (J.P. Morgan and consensus -1.0%), falling much in line with expectations, after unexpectedly ... More >>
Australia's RBA Left Cash Rate Steady At 3%
Wednesday, 6 May 2009, 1:20 pm | JP Morgan
As expected, the Reserve Bank today announced a steady cash rate at 3% (J.P. Morgan and consensus 3%), following this morning's Board meeting. The commentary announcing the decision was broadly neutral, and indicates clearly that the RBA is in no rush ... More >>
OCR "at or below" 2.5% until the end of 2010
Thursday, 30 April 2009, 10:31 am | JP Morgan
The RBNZ this morning cut the official cash rate (OCR) 50bp to 2.50% (J.P.Morgan and consensus -50bp), citing the recent tightening in financial conditions, owing to the rise in longer-term interest rates and NZD appreciation, as the main factor ... More >>
NZ business confidence improved markedly in April
Wednesday, 29 April 2009, 4:09 pm | JP Morgan
The NBNZ business confidence survey improved markedly in April, rising to a still dismal -14.5 from -39.3 in March. The headline indicated that “only” 14.5% of respondents expect business conditions to deteriorate in the coming year, a surprising ... More >>
NZ Exports On The Rise
Wednesday, 29 April 2009, 12:57 pm | JP Morgan
· Trade balance in surplus for second straight month · Exports and imports surprisingly strong · Annual trade balance was -NZ$4.8bn, compared to -NZ$5.2bn in February More >>
Aus and NZ - economic data and event previews
Monday, 20 April 2009, 12:43 pm | JP Morgan
Aust. PPI (%q/q, 1Q) - Producer prices at the final stage of production should fall 0.1%q/q in 1Q, mainly owing to lower import prices. Weaker domestic demand probably meant that firms continued to face difficulties in passing on still-high early-stage ... More >>
Australia and New Zealand - Weekly Prospects
Monday, 20 April 2009, 11:30 am | JP Morgan
The Australian economic calendar swells this week with the release of the minutes of the RBA Board’s last meeting in early April and the first quarter inflation numbers. There also is a speech by the RBA Governor. Our forecast is for headline ... More >>
Australia and New Zealand - Weekly Prospects
Tuesday, 14 April 2009, 12:57 pm | JP Morgan
• The RBA decision was the highlight in Australia last week, although the unexpected spike in the jobless rate to 5.7% ran a close second. By delivering “only” a 25bp cut to the cash rate, RBA officials essentially kept their ammunition in reserve, ... More >>
Unexpected rise in retail sales values
Tuesday, 14 April 2009, 12:25 pm | JP Morgan
· Retail sales values rose in February, buoyed by fuel retailing · Ex-autos sales fell 0.1%m/m · RBNZ to cut OCR 50bp in April More >>
NAB Business Confidence Index
Tuesday, 14 April 2009, 11:36 am | JP Morgan
NAB Business Confidence Index (Mar.) - Business confidence probably remained weak in March, with headline confidence falling back to -25, after rising 10 points to -22 in February. The sharp rise in February emerged in the wake of the announcement ... More >>
