Traders have put 78 per cent odds of Reserve Bank governor Graeme Wheeler cutting the official cash rate.

The Reserve Bank is expected to cut interest rates this week, fueling belief that banks will follow suit and cut mortgage rates.

The NZ dollar declined after US labour market data left open the possibility of US interest rate hikes this month.

Prices of onion - a staple in diets of India nationals - have almost doubled since July, leading to a series of widely-reported heists in recent weeks.

BNZ reduces one-year fixed rate to 4.35 per cent ahead of Reserve Bank's expected announcement that OCR will be cut.

Barfoot & Thompson blames fall in Auckland market on winter weather, the Reserve Bank and international economic instability.

The NZX 50 closed down 1.2 per cent at 5590.2 yesterday following a plunge on Wall Street overnight that saw the S&P 500 index fall almost 3 per cent.

NZ shares are being pummelled this morning after Wall St fell on renewed China fears.

The dollar fell after weak Chinese factory data yesterday raised concerns about a slowdown in Asia's largest economy.

Wall St followed the slide of equities in Europe and Asia overnight, amid mounting fears about the slowing pace of Chinese growth.

Investors are selling currencies such as the kiwi as they unwind so called 'carry trades'.

Wall St was down overnight as Fed officials left the door open for an interest rate hike this month.

Last month saw the highest number of new dwellings consented in a month since March 2005.

The USD strengthened after Fed Reserve officials signalled the US central bank is on track for a potential rate hike next month.

The dollar edged up with gains limited by a stronger US dollar buoyed by better economic data.

Wall St rose overnight, rebounding from one of its worst slumps ever, as investors found value in beaten-down equities.

It follows a period of volatile trading as investor confidence about weakness in China abated.

The New Zealand dollar slumped to its lowest level in six years as equities sank amid concerns about global growth.

The dollar rose as traders delayed their expectations for US interest rate hikes, broadly weakening the greenback.

The New Zealand dollar gained as traders pare back bets for the Federal Reserve to hike interest rates next month.

The dollar jumped after US Fed minutes pushed out expectations for a US interest rate hike, damping greenback demand.

Wall St fell overnight after Fed minutes suggested interest rates may not be lifted next month.

The dollar was little changed after dairy product prices jumped as expected at auction overnight.

The NZ dollar rose ahead of tonight's GlobalDairyTrade auction amid expectations whole milk powder prices may gain.