Scoop has an Ethical Paywall
HiFX Morning Update, June 28 2017
HiFX Morning Update, June 28 2017
The NZDUSD opens at
0.7276 (mid-rate) this morning.
The NZDUSD raced higher during the European trading session peaking at multi-month high 0.7340. The move was quickly reversed as ECB President Mario Draghi hawkish comments led to a sharp recovery in UK, German and US Treasury bond yields at the expense of higher-yielding currencies including the NZD.
Draghi, speaking at the European Central Bank Forum, in Portugal, fuelled market expectations the ECB will reduce stimulus later this year which has seen the EURUSD spike to levels last seen in August 2016. During his speech Draghi stated that “while there are still factors that are weighing on the path of inflation, at present they are mainly temporary factors that typically the central bank can look through.” Draghi went on to say that "any adjustments to our stance have to be made gradually, and only when the improving dynamics that justify them appear sufficiently secure." The EURUSD is currently testing 1.1350 resistance.
This morning’s US consumer confidence data showed an unexpected improvement in June with the index rising to 115.9 from a downwardly revised 117.6 in the previous month. Economists had forecast the index to fall to 116.7 from May’s previously reported 117.9 reading.
Global equity markets are mixed - Dow -0.17%, S&P 500 -0.53%, FTSE -0.17%, DAX -0.78%, CAC -0.70%, Nikkei +0.36%, Shanghai +0.18%
Gold prices are up 0.5% trading at
$1,249 an ounce. .WTI Crude Oil has continued to push
higher, currently up 01.7% at $44.09 a barrel.
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
