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

 


Risk appetite battles market stability

10.53 NZST, Wednesday 14 November 2012

Risk appetite battles market stability


By Andrew May (Sales Trader, CMC Markets New Zealand)

It has been a choppy night's trading range for the Kiwi US cross between 0.8156 and 82c. Markets have bounced continuously with the DOW closing 58.9 points -0.46% lower to 12,756.18. The US session has been dragged down by financial and tech heavy magnets Intel, Hewlett Packard, JP Morgan & Microsoft. However, there was a short rally pushing the DOW to a session high 83 points upon news that US congress may have found solidarity with a bias towards the looming US fiscal cliff alongside easing concerns of the inevitable Greek bailout.

As a consequence of the market volatility we've witnessed over the last three months the NZDUSD continues to be thrown aggressively within a three month range of 8127 - 0.8302 due to investors tiptoeing between risk appetite and a potential fiscal meltdown. Get set for further fireworks as we move into 2013.

Locally the NZD may find a little pressure today with Retail sales figures due this morning and the manufacturing index due tomorrow. With pertinent data forecast, we should be aligned for a 0.4% increase to retail sales and possibly moving into just under expansion territory for the PMI.

The NZD/USD opens today supported by the post US market close at 0.8187, yet could retest 0.8165 or lower upon increased anxiety towards the northern hemisphere concerns, thus pushing dollar bulls back into favour and shunning riskier assets.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Scoop Business: Reserve Bank’s Spencer Calls On Govt To Rethink Housing Tax

The Reserve Bank has urged the government to take another look at a capital gains tax on investment in housing, allow increased high-density development and cut red tape for planning consents to address an over-heated Auckland property market. More>>

ALSO:

The Nation: Call For Cross-Party Auckland Housing Plan

Penny Hulse calls for cross-party accord on Auckland housing because “it’s too important to score political points on”. More>>

ALSO:

Flu Season: Overcoming Vaccination Reluctance

While research shows that 40% of New Zealand businesses offer free or subsidised flu vaccinations to employees this time of year, HR professionals say persuading staff to participate is the biggest challenge. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news