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

 


Stronger employment fails to impress

Stronger employment fails to impress


By Michael McCarthy (Chief Market Strategist, CMC Markets)

Better than expected jobs numbers in the US overnight failed to inspire markets. Instead, the release of the minutes of the last US Fed’s FOMC meeting appeared to focus attention on the risks associated with stimulus withdrawal and the declining potential impact of further stimulus. Shares fell, interest rates rose and gold came under renewed pressure.

A greater concern to Australian investors is the weakness in industrial metals and oil. Copper fell again, resuming a six-day downtrend after yesterday’s brief respite. Zinc, lead and aluminium also dropped, suggesting further pressure on mining stocks today. Given yesterday’s market leading performance from the energy sector, and the potential for a reversal after oil fell overnight, resources may be a significant drag at the open of the Australian market today.

Data due today has the potential to paint a new picture. Inflation data from China could impact regional trading. Locally, the release of retail sales and building approvals numbers for November will likely colour views of the Australian economy. Retail stocks have run on anecdotal reports of stronger December trading, so today’s release may not have a direct impact. Investors and traders are more likely to focus on the building approvals, given its status as a leading indicator and the potential to impact RBA action. Forecast to show an increase of 0.4% for the month (October 0.5%), any significant deviation is likely to move markets.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Drones: First Certificate Issued Under New UAV Rules

Transport Minister Simon Bridges and Associate Transport Minister Craig Foss say the first certified flight of an unmanned helicopter under new aviation rules is a great example of how they can enable commercial use. More>>

ALSO:

GE Swedes And Cow Deaths: Plant Analysis Backs Up Earlier Advice

The industry body is recommending that farmers do not feed Herbicide Tolerant (HT) swedes to cows in spring when the animals are in late pregnancy or early lactation. DairyNZ is also advising caution if farmers are considering other leafy varieties. More>>

ALSO:

Statistics: Dairy And Travel Still Our Largest Export Earners

New Zealand earned $2.3 billion more from exports than we spent on imports during the year ended June 2015... total exports of goods and services were $67.5 billion, while total imports were $65.1 billion. More>>

ALSO:

Approval: Air New Zealand And Air China Launch New Alliance Route

Air New Zealand and Air China have today launched joint sales for a new daily direct service between Auckland and Beijing after receiving approval from New Zealand Minister of Transport Hon Simon Bridges to form a strategic alliance. More>>

ALSO:

Money Trading: FX Trader Jin Yuan Finance Warned Over Lack Of Monitoring

Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. More>>

ALSO:

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news