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

 


NZ dollar holds in recent range after Chinese data

NZ dollar holds in recent range in holiday trading after Chinese data

Nov. 23 (BusinessDesk) – The New Zealand dollar traded within its recent range in quiet trading with US markets closed for the Thanksgiving Day holiday and after figures showed Chinese manufacturing is growing again.

The kiwi dollar slipped to 81.46 US cents from 81.55 cents at 5pm in Wellington yesterday. The trade-weighted index fell to 73.21 from 73.30.

China's HSBC managers' index indicated industrial production is growing this month, with a preliminary reading of 50.4. That marked the first expansion in 13 months and helped bolster hopes that the world's second-largest economy might be in better shape than feared. By contrast, a survey of purchasing managers in services and manufacturing industries in the euro zone was little changed at 45.8 in November and activity has now fallen in 14 of the past 15 months.

“There was little to drive market direction as market activity remained light during the US Thanksgiving holiday,” said Kymberly Martin, market strategist at bank of New Zealand. “Generally sentiment was fairly stable, assisted by the benign China PMI reading.”

Martin said the local currency may traded in a range of 80.80 cents to 81.80 cents today.

While Wall Street was closed, equity markets in Europe gained, with the UK’s FTSE 100 climbing 0.7 percent and Germany’s DAX 30 was up 0.8 percent.

The kiwi dollar slipped to 63.30 euro cents from 63.50 cents and traded at 51.15 British pence from 51.09 pence. It was little changed at 78.47 Australian cents and slipped to 67.16 yen from 67.21 yen.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news