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


HiFX Morning Update September 13, 2017

HiFX Morning Update September 13, 2017

The NZDUSD opens at 0.7284 (mid-rate) this morning.

The Kiwi was stronger than its major competitors except the GBP after a myriad of positive UK data releases overnight.

The U.K. Consumer Prices Index including owner occupiers’ housing costs 12 month inflation rate was 2.7% in August 2017, up from 2.6% in July 2017 and better than the 2.8% the market was expecting. The Consumer Prices Index (CPI) 12-month rate was 2.9% in August 2017, up from 2.6% in July 2017.

U.K. PPI Input was up 1.6% in August, ahead of the 1.2% expected and much better than the -0.2% from July. The annual rate of inflation for goods leaving the factory gate increased for the first time in 6 months in August 2017. Factory gate prices (output prices) rose 3.4% on the year to August 2017, up from 3.2% in July 2017. Prices for materials and fuels (input prices) rose 7.6% on the year to August 2017, up from 6.2% in July 2017, with the change in the rate being driven mainly by crude oil.

UK House prices grew by 5.1% in the year to July 2017, unchanged from the year to June 2017. The UK Property Transaction statistics showed that in July 2017 the number of seasonally adjusted property transactions completed in the UK with a value of £40,000 or above increased by 8.3% compared to July 2016. Comparing July 2017 to June 2017, property transactions increased by 1.3%.

The U.S. Index of Small Business Optimism rose 0.1 points to 105.3 in August, basically unchanged from July. Five of the 10 Index components posted a gain and five declined. The Index peaked for this recovery at 105.9 in January, just 0.6 points above the August reading.

Global equity markets are higher except the UK: Dow +0.21%, S&P500 +0.19%, FTSE -0.17%, DAX +0.40%, CAC +0.62%, Nikkei +1.18%, Shanghai +0.09%.

Gold prices are up $2 or 0.2% currently trading at $1,331 an ounce. WTI Crude Oil prices are modestly higher too, up 0.2% currently trading at $48.09 a barrel.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Real Estate: Foreign Buyers Ban Passes Third Reading

The Bill to put in place the Government’s policy of banning overseas buyers of existing homes has passed its third and final reading in the House. More>>


Nine Merger: Fairfax Slashes Value Of NZ Business

Fairfax Media Group more than halved the value of its Kiwi assets, attaching just A$40 million to mastheads that were once the core of a billion dollar investment. More>>

Collecting Scalpers: Commerce Commission To Sue Viagogo

The Commission will claim that Viagogo made false or misleading representations: • that it was an “official” seller, when it was not • that tickets were limited or about to sell out • that consumers were “guaranteed” to receive valid tickets for their event • about the price of tickets... More>>


Price Of Cheese: Fonterra CEO Goes Early After Milk Price Trimmed

Aug. 15 (BusinessDesk) - Fonterra Cooperative Group chief executive Theo Spierings is leaving the role early after the world's biggest dairy exporter lowered its farmgate payout and trimmed its dividend to retain cash. More>>