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


HiFX Morning Update, July 18 2017

HiFX Morning Update, July 18 2017

The NZDUSD opens at 0.7316 (mid-rate) this morning.

A slow start to the week as investors await economic data releases before adding to their positions has seen the NZD trade tight ranges against all its major trading rivals. This morning’s inflation report due for release at 10:45 will dictate near term direction for the NZD. Economists are forecasting Q2 CPI to edge up by 0.2% following on from a 1% increase in Q1, while the fall in oil prices during the same period could very well see the annual inflation figure fall below 2% following a 2.2% reading in Q1.

Yesterday’s China data printed ahead of expectations with gross domestic product (GDP) expanding at an annualized 6.9% in the second quarter just ahead of the forecast 6.8% result, while Industrial Production y/y surged 7.6% well above the expected 6.5% increase. Surprisingly, there was very little reaction to the data releases.

Overnight Euro-zone inflation for the month of June printed in line with expectations edging down to 1.3% (a 6mth low) following May’s 1.4% reading.

Global equity markets are mixed - Dow +0.03%, S&P 500 +0.03%, FTSE +0.35%, DAX -0.35%, CAC -0.10%, Nikkei +0.31%, Shanghai -1.43%.

Gold prices are up 0.5% trading at $1,234 an ounce .WTI Crude Oil prices have started the week on the back foot, down 1% to $46.01 a barrel.


© Scoop Media

Business Headlines | Sci-Tech Headlines


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>>


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>>