OK, not as exciting as a stock market collapse .... but its the it's the Global Dairy trade auction coming up
The previous auction saw a good jump in the index:
For today ... another jump is expected ... futures pointing to gains of perhaps 8% for WMP (take with a grain of salt, futures prcing have not been a good predictor recently)
- diminished milk supply expected to push prices higher
- Fonterra expects production to fall by 3 per cent over this season, dry weather in NZ during much of summer likely to impact
ps: Heads up for NZD traders - its a it's a New Zealand holiday today
And, a busy week ahead:
- 2145 GMT on 6 Feb - jobs market report for Q4
- 2000 GMT on 7 Feb - RBNZ monetary policy announcement