Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZ dollar steady as Greek impasse keeps investors nervy

NZ dollar little changed as Greek impasse keeps investors nervy, Asian equities fall

By Paul McBeth

Nov. 13 (BusinessDesk) - The New Zealand dollar was little changed as high-level talks in Europe about whether the region will give Greece its next bail-out tranche keep investors nervous, spurring a decline in Asian equity markets.

The kiwi traded at 81.65 US cents at 5pm in Wellington from 81.76 cents at 8am and 81.58 cents yesterday. The trade weighted index edged up to 73.17 from 73.05 yesterday.

Stocks across Asia fell as investors remain in the dark as to whether Greece will get its aid package and if it will stay in the region's single currency. European finance ministers granted the Mediterranean nation an extra two years to get its books in order, though Dutch Finance Minister Jeroen Dijsselbloem said Greece will have to find a way to bridge a 32.6 billion funding gap on its own if it wants to get the extension.

Japan's Nikkei 225 index fell 0.5 percent in afternoon trading, while Hong Kong's Hang Seng index was down 1 percent and Australia's S&P/ASX 200 index fell 1.1 percent.

"There seems to be an impasse over Greece," said Tim Kelleher, head of institutional FX sales NZ at ASB Institutional in Auckland. "I don't think there's any fundamental change (in the kiwi) unless equities keep going lower."

New Zealand's currency rose to 78.42 Australian cents from 78.31 cents yesterday after business confidence deteriorated across the Tasman, according to a National Australia Bank survey.

Investors will be keeping tabs on Germany's Zew survey of the economic situation in Northern Hemisphere trading, with European news likely to top headlines ahead of the next meeting about Greece's bailout on Nov. 20.

The currency rose to 64.37 euro cents from 64.11 cents yesterday, and advanced to 51.46 British pence from 51.29 pence. The kiwi traded at 64.73 yen from 64.83.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

R18: The Warehouse Group Praised For Removing Games

The decision by New Zealand’s largest retailer The Warehouse Group (TW Group), to withdraw stocks of the latest version of Grand Theft Auto V (GTA V) and other R18 games, has been praised by advocacy group Stop Demand Foundation. More>>

ALSO:

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news