New Zealand Earthquake and Lack of Growth Momentum in China Weigh on Sentiment

A series of powerful earthquakes in New Zealand triggered tsunami and caused at least two dead. The impact on the financial markets is evolving. NZDUSD extends the selloff for a 4th day, dropping to a one-month low of 0.7071, while AUDNZD has risen to a 2-week high of 1.6048, at the time of writing this note. RBNZ cut the OCR by -25 bps to a new record low of 1.75% last week.

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New Zealand Earthquake and Lack of Growth Momentum in China Weigh on Sentiment