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

 

HiFX Morning Update, July 27 2017

HiFX Morning Update, July 27 2017

The NZDUSD opens at 0.7515 (mid-rate) this morning.

The NZD has made steady gains against all its trading partners over the past 24hrs with the NZDUSD breaking up through 0.75, a level last reached in May 2015.

The USD is losing ground following this morning’s Federal Reserve monetary policy statement. As widely expected the Federal Reserve kept interest rates unchanged at 1.00% to 1.25% but the accompanying statement in which the Fed stated that that risks to the economic outlook appear “roughly balanced,” was somewhat over shadowed by the comment that inflation is expected to stay “somewhat below” 2% in the near-term. Although the Fed still plans to raise interest rates again this year and reiterated that they intend to unwind the balance sheet "relatively soon" their failure to offer a specific timeline has investors all but ruling out the chance of a further hike at their September meeting.

Earlier this morning US new home sales during the month of June increased in line with expectations, with sales up 0.8% to 610k.

The UK economy expanded in line with forecasts with the Office for National Statistics reporting Q2 GDP rose by 0.3% after recording a 0.2% increase in Q1.

Global equity markets have turned positive - Dow +0.46%, S&P 500 +0.09%, FTSE +0.24%, DAX +0.33%, CAC +0.56%, Nikkei +0.48%, Shanghai +0.12%.

Gold prices have edged higher, up 0.3% trading at $1,254 an ounce .WTI Crude Oil prices continue to climb, up 1.6% at $46.64 a barrel.

ends

© 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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

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>>

ALSO: