NZ dollar gains on US rescue package euphoria
The Kiwi dollar was trading at 59.90 cents at 5pm.
The Kiwi dollar was trading at 59.90 cents at 5pm.
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Central bank's mission is to make sure Government and banks have the money they need.
It has been weeks since the market had three strong days in a row.
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New Zealand shares rose for a third day.
The kiwi was trading at 58.33 US cents at 5pm.
Investors are bracing for a wave of capital raisings as a result of Covid-19.
New Zealand shares rose for a second day.
The kiwi was trading at 58.39 US cents at 5pm.
NZ stocks opened strongly after Wall Street staged its biggest rebound since the GFC.
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The Government's move into lending is huge. Hugely risky, and hugely important.
The Reserve Bank draws on New Zealand's collective wealth to stabilise money markets.
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Investors are waiting for politicians to settle their differences over US$2 trillion aid.
The government today ratcheted up its response to Covid-19.
The kiwi was trading at 56.38 US cents at 5pm.
The market is in for another rough ride.
Markets will remain highly volatile as Covid-19 continues to spread around the world.
"The programme aims to provide further support to the economy."
Dairy and the dollar are working in our favour.
Food supply is causing unnecessary panic but credit markets are a more serious concern.
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