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Westpac issued warning over NZ breaches
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Week Ahead - Dollar rally accelerates on Hawkish Fed - MarketPulse
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Date Time
Westpac New Zealand announces strong financial result
Westpac New Zealand (Westpac NZ)[i] says a strong half-year financial result has been driven by better than expected economic conditions.
Chief Executive David McLean said while the global COVID-19 pandemic was far from over, the financial effect on New Zealand had not been as significant as earlier feared.
“A year ago the outlook was very uncertain, with health, social and economic outcomes hanging in the balance.
“Thankfully, New Zealand has so far avoided the worst effects of the global pandemic, largely thanks to decisive leadership from the Government, and we are now cautiously optimistic.
US
It is all about stimulus this week. Risk appetite will take its cues from the Fed and possibly from Congress. The Fed could deliver fresh measures following softer economic data and no fiscal aid from Congress. Expectations are growing for the Fed to extend the average maturity of their Treasury purchases. The risk of Congress going home for the holidays without delivering a rescue bill is growing by the day. The key sticking points remain liability protections and aid to state and local governments.
On the data front, the flash PMI readings could show modest weakness in both the manufacturing and service sectors. Both retail sales and industrial production in November are expected to decline, while housing data appears poised to steady,