Scoop has an Ethical Paywall
HiFX Morning Update, August 15 2017
HiFX Morning Update, August 15 2017
The NZDUSD opens
at 0.7295 (mid-rate) this morning.
The USD has started the week on the front foot as geopolitical tension between the US and North Korea eases. Assisted by yesterday’s standout retail sales report the NZD has held up well.
New Zealand retail sales volumes were up 2% in the second quarter boosted by both the World Masters Games and the Lions rugby tour. The strong result was well ahead of forecasts and follows on from a 1.5% increase in the first quarter.
Yesterday the National Bureau of Statistics report showed China's industrial output and retail sales expanded at a slower rate than forecast. Industrial production for the month of July increased by 6.4%y/y following a 7.6% increase in June and short of the expected 7.1% print. Retail sales growth also slowed, easing to 10.4% in July following an 11% increase in June and just shy of the forecast 10.8% increase.
Crude oil futures tumbled over night after the EIA reported US crude oil production continues to remain at two-year highs and China’s crude imports fell to a 7mth low.
This afternoons RBA monetary policy statement looks to be today’s highlight during our trading day while overnight, tonight UK inflation data and US retail sales should dictate direction.
Global equity markets with the exception of the Nikkei are higher - Dow +0.67%, S&P 500 +1.06%, FTSE +0.60%, DAX +1.26%, CAC +1.20%, Nikkei -0.49%, Shanghai +0.90%.
Gold prices are down 1.1% trading at $1,280 an ounce .WTI Crude Oil prices have plunged, down 2% trading at $47.83 a barrel.
ends
HiFX
International Payments Expertly Done
HiFX is one of the largest foreign exchange and international payment specialists in the world, managing over $30 billion on behalf of over 100,000 clients worldwide every year.
Large enough to undertake the biggest transactions, yet small enough to care about each and every one – send and receive overseas payments and manage your account anytime, anywhere. HiFX gives you the flexibility you need to transfer money quickly and easily via a secure online platform 24 hours a day, seven days a week - making moving money as easy as 1,2,3.
HiFX Ltd ABN 54 106 779 953/ AFSL No 240914
Federated Farmers: Government Ends War On Farming
University of Auckland: NZ Researchers Drive Work On International AI Framework
Woolworths: Rolling Out Team Safety Cameras To All Stores As Critical Tool For De-escalating Conflict 
Consumer NZ: Environmentally Conscious Shoppers At Risk Of Being Greenwashed
Hugh Grant: Facing The Future - The Use Of Biometric Tech
John Mazenier: Gaffer Tape And Glue Delivering New Zealand’s Mission Critical Services
