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

 

Final Frontier: Rocket Lab And NASA Sign Commercial Space Launch Agreement

Rocket Lab has signed a Commercial Space Launch Act Agreement with the National Aeronautics and Space Administration (NASA). The agreement enables Rocket Lab to use NASA resources - including personnel, facilities and equipment - for launch and reentry efforts. More>>

ALSO:

Scoop Business: Wheeler Downplays Scope For ‘Large’ Rates Fall

Reserve Bank governor Graeme Wheeler says some market commentators are predicting further declines in interest rates that would only make sense for an economy in recession, although some easing is likely to be needed to maintain New Zealand’s economic growth. More>>

ALSO:

Ruataniwha Dam: Consent Conditions Could Mean Reduced Intensity

Legal advice sought by the Hawke’s Bay Regional Council on the Ruataniwha Dam consent conditions has confirmed that farmers who sign up to take water from the dam could be required to reduce the intensity of their farming operation to meet the catchment’s strict nitrogen limit. More>>

Health And Safety: Bill Now Sees Rules Relaxed For Small Businesses

Health and safety law reform sparked by the Pike River coalmine disaster has been reported back from the industrial relations select committee with weakened requirements on small businesses to appoint health and safety representatives and committees. More>>

ALSO:

Bearing Fruit: Annual Fruit Exports Hit $2 Billion For First Time

The value of fruit exported rose 20 percent (up $330 million) for the June 2015 year when compared with the year ended June 2014. Both higher prices and a greater quantity of exports (up 9.0 percent) contributed to the overall rise. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news