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


HiFX Morning Update, August 8 2017

HiFX Morning Update, August 8 2017

The NZDUSD opens at 0.7355 (mid-rate) this morning.

In a delayed reaction to yesterday’s RBNZ inflation expectations the NZD has weakened against all its trading rivals and is the worst performing of the G10 currencies over the past 24h hrs.

The latest quarterly RBNZ survey showed those surveyed now see annual inflation at 1.77%, down from 1.92% in one year, while the headline two year expectation has been dialled back from 2.17% to 2.09%. Q2 inflation as reported last month sits at 1.7%.

Overnight German industrial production unexpectedly decreased in June with the Destatis report showing industrial output decreased by 1.1%m/m, following an upwardly revised 1.2% increase in May. The June result is the first fall in production this year and surprised economists who had forecast a small increase of 0.2%.

With very little in the way of economic data releases, ahead of Thursday’s RBNZ monetary policy statement the NZD is likely to trade tight ranges with a bias to the downside.

Global equity markets with the exception on the DAX have edged higher - Dow +0.10%, S&P 500 +0.10%, FTSE +0.27%, DAX -0.33%, CAC +0.09%, Nikkei +0.52%, Shanghai +0.53%.

Gold prices are little changed trading at $1,258 an ounce .WTI Crude Oil prices have edged lower, down 0.7%, trading at $49.22 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>>