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


HiFX Morning Update, June 20 2017

HiFX Morning Update, June 20 2017

The NZDUSD opens at 0.7228 (mid-rate) this morning.

Overnight, hawkish comments from New York Fed President William Dudley has led to USD rally. With very little in the way of economic data releases investors focused on Fed President Dudley’s address to the North Country Chamber of Commerce, in Plattsburgh, where Dudley reiterated Yellen’s comments from last Thursday. Dudley stated “We are pretty close to full employment. Inflation is a little lower than what we would like, but we think that if the labour market continues to tighten, wages will gradually pick up and with that, inflation will gradually get back to 2 percent." The USD immediately strengthened against all its rivals following Dudley’s comments. Later this morning Chicago Federal Reserve President Charles Evans is expected to continue talk up the economy when speaking at the New York University Money Marketeers event.

Yesterday U.K. Brexit Secretary David Davis, met with Chief EU negotiator Michael Barnier in Brussels to begin Brexit negotiations. The UK have until 29th March 2019 to negotiate the terms of their departure from the European Union.

This afternoon the release of the RBA monetary policy meeting minutes should dictate direction for the NZDAUD cross rate while overnight tonight, the latest global dairy trade auction will be the main NZD driver ahead of Thursday’s RBNZ rate statement.

Global equity markets have had a positive start to the week - Dow +0.54%, S&P 500 +0.71%, FTSE +0.81%, DAX +1.07%, CAC +0.90%, Nikkei +0.62%, Shanghai +0.68%

Gold prices have pulled back currently down 0.6% at $1,245 an ounce. .WTI Crude Oil prices have started the week on the back foot, currently down 0.7% at $44.44 a barrel.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Crown Accounts: Slightly Softer Growth Expected In PREFU

A slightly softer growth forecast is the main feature of largely unchanged Pre-election Fiscal Update compared to the Budget forecasts three months ago, Finance Minister Steven Joyce says. More>>


Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>


Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>


By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>