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

 


Earnings Season prepares return to risk

11.08 NZST, Wednesday 30 January 2013

Earnings Season prepares return to risk
By Andrew May (Sales Trader, CMC Markets New Zealand)

With the fourth quarter US earnings season in full swing pushing markets to historic highs not seen since 2007, commodities and growth currencies are witnessing ignition for a short to medium sustained break out

Early this week the Kiwi slid into free fall after a milk contamination scare for Fonterra saw milk powder sales plummet, and ensured the Kiwi US cross fell 50pts from Monday's open to 0.8310.

However, strong risk appetite gained momentum as traders departed treasuries and transitioned into the fast paced equities market. The NZD regained lost composure to currently tread support at 0.8365 with a view to pushing last year’s 0.8459 highs.

Boosted by yesterday's December trade surplus, the Kiwi has opened today at 0.8370. It’s also sitting comfortably at AUD 0.80 and has earmarked YEN 76.00 with a view to pushing to 76.50 highs. The only notable retraction is against the Euro to where it’s retested 0.62 from 0.6450 highs three weeks ago.

As long as the FOMC meeting early tomorrow morning doesn't rock the boat with further debt ceiling commitment talks and the RBNZ official cash rate keeps the status quo we should see the DOW hit the 14,000 mark comfortably thus taking the majority of Kiwi cross rates up in its wake.


http://www.cmcmarkets.com/


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Cosmetics & Pollution: Proposal To Ban Microbeads

Cosmetic products containing microbeads will be banned under a proposal announced by the Minister for the Environment today. Marine scientists have been advocating for a ban on the microplastics, which have been found to quickly enter waterways and harm marine life. More>>

ALSO:

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:


NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • NIWA: The Year's Top Science Findings

    Since 1972 NIWA has operated a Clean Air Monitoring Station at Baring Head, near Wellington... In June, Baring Head’s carbon dioxide readings officially passed 400 parts per million (ppm), a level last reached more than three million years ago. More>>

    ALSO:

    Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news