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NZ PM Key wins third consecutive term

FXStreet (Bali) - New Zealand's general election, held on Saturday, saw the incumbent National coalition win, with Prime Minister John Key earning his third consecutive term, this time having total control over parliament.

As reported by Imre Speizer. FX Strategist at Westpac: "The National coalition won a third consecutive term with a slightly larger share of the vote. It's share currently stands at 48.1%, although over 250,000 special votes have yet to be counted (official results will be published on 4 October)."

"This gives it 61 seats, two more than it won in 2011, and enough to govern alone in a 121- seat House. Its current coalition partners, Maori, ACT and United Future are widely expected to continue the relationships, giving the coalition an additional four seats", Speixer adds.

Speizer expects, "the weekend's results to produce a modest rally in NZD/USD and a modest rise in 2yr swap rates when markets open at 7am NZT on Monday."

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G-20 communique: Economic conditions in key areas stronger, downside risks persist

The G-20 meeting, held in Cairns (Australia), has issued the text of the communique, noting, among many other topics, that economic conditions in some key economies appear to be getting stronger, growth in the global economy still uneven and below the pace required to adequately generate jobs, also highlighting downside risks in financial markets, geopolitical tensions.
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