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


HiFX Morning Update, May 19 2017

The NZDUSD opens at 0.6891 (mid-rate) this morning

Global equity markets continued lower with North America the exception. The USD found some strength on a suspected terror act in New York as a car, at speed, mounted the curb and ploughed into pedestrians. The New York Police have the driver in custody and have reported that it was just a drunk driver – not a terrorist act.

The NZD/USD is the worst performing currency of the majors in the last 24 hours. The Kiwi is down 0.75% or 49 points, and starts today back under 0.6900, but well clear of the strong pivotal 0.6850 level.

The NZD/AUD dropped 70 points after yesterday’s Australian Employment data came in better than expected. Australian Employment was 37.4k and the unemployment rate dropped to 5.7%, ahead of 5k and 5.9% market consensus respectively.

In April 2017, UK Retail Sales increased by 2.3% compared with March 2017 (1.2% expected) and by 4.0% compared with April 2016.

In the week ending May 13, the advance figure for U.S. seasonally adjusted Initial Claims was 232,000, a decrease of 4,000 from the previous week's unrevised level of 236,000. The 4-week moving average was 240,750.

Results from the May U.S. Manufacturing Business Outlook Survey suggest that most firms still expect growth to continue over the next six months. The diffusion indexes for general activity and shipments improved notably from their April readings. The indexes for new orders and employment, however, fell modestly from last month but remained at high readings.

Global equity markets are down except North America - Dow +0.46%, S&P 500 +0.54%, FTSE -0.89%, DAX -0.33%, CAC -0.53%, Nikkei -1.32% Shanghai -0.46%.

Gold prices are down $11 or 0.9% trading at $1,247 an ounce .WTI Crude Oil is up 0.3% currently trading at $49.32 a barrel.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Rocket Lab: Launch Expected

Rocket Lab has delayed the roll out of the launch vehicle called Electron by one day, due to weather conditions. The planned launch attempt will now take place on Tuesday, May 23, 2017. More>>


Budget: Irrigate (Good Times, Come On!)

Additional grant funding of $26.7 million over the next three years plus a capital boost of $63 million towards irrigation investments in Budget 2017 will deliver economic and environmental benefits through better use of water... More>>


Silver Fern Farms: Proposal To Close Fairton Sheepmeat Plant

Silver Fern Farms has advised its people of the proposal to permanently close the site, and has discussed potential transfer options to its other sites in the region as part of the consultation process...


MPI: Myrtle Rust Appears In Taranaki

The nursery in Waitara (just north of New Plymouth) reported suspected myrtle rust symptoms on young plants to the Ministry’s 0800 number yesterday (Tuesday). More>>