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

 


NZ dollar trades in narrow range, focus on Bank of Japan

NZ dollar trades in narrow range, focus on Bank of Japan

Jan. 22 (BusinessDesk) - The New Zealand dollar was trading in a narrow range as traders waited for direction on Japanese monetary police and for US markets to gear up again after the Martin Luther King holiday.

The kiwi was at 83.63 US cents at 8am on Tuesday, little changed from 83.60 cents at 5pm on Monday.

The currency traded in a relatively narrow range overnight due to the holiday in US markets and inauguration of President Barack Obama, one dealer said.

He said statements by the Bank of Japan later today were expected to be main event in markets today.

Economists in a Bloomberg News survey expect the central bank to expand asset purchases after a two-day meeting ends today.

The kiwi was at 75.06 yen at 8am from 74.95 at 5pm on Monday.

Further stimulus in Japan may weaken the yen more but strategists say traders are holding large short yen positions and the yen could rise on profit-taking.

Otherwise equities in Europe advanced as Germany's central bank said the nation's economy is showing signs of recovery in the first quarter of the year.

The Bundesbank forecasts the German economy to grow 0.4 percent in 2013 year and 1.9 percent in 2014. Europe's largest economy contracted 0.5 percent in the fourth quarter of 2012, data last week showed.

The kiwi was at 79.52 Australian cents from 79.50 Australian cents at 5pm on Monday.

It was 62.80 euro from 62.77 euro and 52.84 British pence from 52.69 pence.
The trade-weighted index was little changed at 75.21 from 75.14 on Monday.

(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