Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

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

 

HiFX Morning Update, September 26 2016

HiFX Morning Update, September 26 2016


NZDUSD 0.7235 -1.2%
NZDEUR 0.6445 -1.8%
NZDGBP 0.5585 -1.0%
NZDJPY 73.15 -0.8%
NZDAUD 0.9495 -0.6%
NZDCAD 0.9531 -1.2%


The NZDUSD opens at 0.7235 (mid-rate) this morning.

The NZD continued to slip lower on Friday closing out the week at 0.7245 against the USD. The move lower is a direct result of Thursday’s Reserve Bank statement with Gov Wheeler reiterating that further interest rate cuts are on the cards.

Over the weekend the Euro-zone private sector grew at the slowest pace in 20 months in September. The flash composite output index fell to 52.6 in September from 52.9 in August. In contrast the flash factory Purchasing Managers' index which had been expected to fall to 51.5, improved to 52.6 in September from 51.7 in August.

The week ahead has very little in the way of local economic data releases and direction is likely to be dictated US economic reports and Fed Chair Yellen’s testimony on Thursday night.

Global equity markets finished the week broadly lower - Dow -0.71%, S&P 500 -0.57%, FTSE -0.03%, DAX -0.44%, CAC -0.47%, Nikkei -0.32%, Shanghai -0.28%.

Gold prices gained 2.4% over the course of the week closing on Friday at $1,337 (-1.8% on the day) an ounce, WTI Crude Oil lost 4% on Friday its largest one day fall in two months closing at $44.48 a barrel.

ends

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.