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


HiFX Morning Update, June 3 2017

HiFX Morning Update, June 3 2017

The NZDUSD opens at 0.7321 (mid-rate) this morning.

The NZDUSD continued to rally late on Friday closing out the quarter at 0.7333 its highest level since early February this year. The NZD was helped higher on Friday afternoon by stronger than expected manufacturing PMI out of China, with the index rising from 51.2 to 51.7. Economists had expected the index to edge down to 51.0.

Friday’s US economic data releases came in ahead of expectations with the Chicago PMI leading the way. With personal income and consumer sentiment printing slightly stronger 0.4 Vs 0.3 and 95.1 Vs 94.5 respectively it was the Chicago PMI that really stood out with the index surging to 65.7 from 59.4 during June. Economists had forecast the index to pull back to 58.1.

The UK’s Q1 GDP was confirmed at 0.2% while consumer confidence in the United Kingdom plummeted to -10 in June after falling to -5 in May. Economists had expected a reading of -7.

On the local front tomorrows business confidence and Wednesday mornings GDT auction are the only economic data releases of note while internationally Thursday morning’s FOMC meeting minutes and the weekends US employment data are likely to take centre stage.

Global equity markets closed out the week mixed - Dow +0.29%, S&P 500 +0.15%, FTSE -0.51%, DAX -0.73%, CAC -0.65%, Nikkei -0.92%, Shanghai +0.14%.

Gold prices fell 2.6% during the month of June closing out the quarter at $1,241 an ounce. .WTI Crude Oil rallied strongly on Friday gaining 2.5% and closing out the quarter just above $46 a barrel


© Scoop Media

Business Headlines | Sci-Tech Headlines


Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>


Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>


Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>


Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>


New Report: Waitākere Kauri - Look After It, Or Lose It

With no cure for kauri dieback disease and treatment options still being trialled, the Auckland region faces a very real threat – take urgent action in the Waitākere Ranges or risk losing kauri from our forests altogether. More>>