Scoop has an Ethical Paywall
The NZDUSD opens lower at 0.7595 this morning.
April 24
The NZDUSD opens lower at 0.7595 this morning.
The NZD fell sharply across the board
yesterday after RBNZ Assistant Governor John McDermott’s
speech highlighted the possibility of interest rate cuts.
Domestic demand and inflation would both need to weaken
before any rate cut comes into view; however rate hikes are
firmly off the table.
The NZDAUD stepped further away from the ‘parity part’ in response to McDermott’s speech, although uptrend remains intact. The NZDAUD dipped to 0.9735, while the NZDUSD traded to a low of 0.7538.
The USD fell on weaker-than-expected US economic data - US new home sales declined 11.4% in March, while factory activity slowed and weekly jobless claims rose. This fanned concerns about the strength of US economic growth and helped push up the NZDUSD from the overnight lows.
Elsewhere, China’s
factory activity contracted at its fastest pace in a year in
April, according an HSBC report, suggesting economic
conditions are continuing to deteriorate.
Greece appears
to have scrapped enough cash together to meet its
obligations into June, alleviating fears of an imminent
default. However, the crisis is far from resolved.
Global equity markets were mixed on the day – Dow +0.4%, Nikkei +0.3%, Shanghai +0.0%, FTSE +0.4%, DAX -1.2%
Gold prices bounced $8 higher to USD$1,194 an ounce. Oil prices (WTI) jumped 2.4% to USD$57.66 per barrel.
The current indicative mid-rates are:
NZDUSD
0.7595
NZDEUR 0.7015
NZDGBP
0.5045
NZDJPY 90.80
NZDAUD
0.9760
NZDCAD
0.9230
ends
HiFX
International Payments Expertly Done
HiFX is one of the largest foreign exchange and international payment specialists in the world, managing over $30 billion on behalf of over 100,000 clients worldwide every year.
Large enough to undertake the biggest transactions, yet small enough to care about each and every one – send and receive overseas payments and manage your account anytime, anywhere. HiFX gives you the flexibility you need to transfer money quickly and easily via a secure online platform 24 hours a day, seven days a week - making moving money as easy as 1,2,3.
HiFX Ltd ABN 54 106 779 953/ AFSL No 240914
Business Canterbury: Urges Council To Cut Costs, Not Ambition For City
Wellington Airport: On Track For Net Zero Emissions By 2028
Landcare Research: ANZAC Gall Fly Release Promises Natural Solution To Weed Threat
NZ Anti-Vivisection Society: Auckland Rat Lovers Unite!
University of Canterbury: $1.35 Million Grant To Study Lion-like Jumping Spiders
Federated Farmers: Government Ends War On Farming
