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.


© Scoop Media

Business Headlines | Sci-Tech Headlines


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>>


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>>