Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

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

 

HiFX Morning Update, August 3 2017

HiFX Morning Update, August 3 2017


The NZDUSD opens at 0.7435 (mid-rate) this morning.

After trading back towards 0.7400 against the USD following yesterday’s disappointing employment report the NZD has benefitted from USD weakness after private sector employment in the US failed to meet economists’ forecasts.

The ADP Research Institute report showed private sector employment increased by 178k jobs in July following on from June’s 191k result. Economists had forecast an increase of 185K jobs for July. The USD in reaction to the report plummeted to its lowest level since January 2015 versus the euro, and to its lowest level against the GBP since September 2016.

Crude oil prices have bounced back after initially and unexpectedly falling following the Energy Information Administration (EIA). The latest weekly report showed crude oil inventories fell by 1.5m barrels in the week ended July 28. Market analysts' had expected crude inventories to decline by 3m barrels.

With only second tier data due out during our trading day, investors will turn their heads towards tonight’s BOE monetary policy statement and Friday nights’ non-farm payrolls for further direction.

Global equity markets are mixed - Dow +0.20%, S&P 500 -0.11%, FTSE -0.16%, DAX -0.57%, CAC -0.39%, Nikkei +0.47%, Shanghai -0.23%.

Gold prices given back yesterday’s small gain, down 0.2% trading at $1,269 an ounce .WTI Crude Oil prices are up 1%, trading at $49.42 a barrel.

ends

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.