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


HiFX Morning Update, December 7, 2017

HiFX Morning Update, December 7, 2017

The NZDUSD opens at 0.6871 (mid-rate) this morning.

The NZD has traded tight ranges against the majority of its rivals, as the AUD and CAD underperform.

The AUD is trading lower against all its rivals after yesterday’s Q3 GDP fell short of market expectations.

Q3 GDP expanded by 0.6% following on from a 0.8% increase in Q2, the result was just shy of the forecast 0.7% increase and puts annual GDP at 2.8% again short of the expected 3.0% result.

Earlier this morning the bank of Canada, as expected, kept interest rates unchanged at 1.0% while in the accompanying statement Governor Stephen Poloz reiterated "While higher interest rates will be required over time, the Bank will continue to be cautious, guided by incoming data” in assessing the economy's sensitivity to further interest rates hikes.

US private sector employment for the month of November increased by 190k jobs following a 235k increase in jobs in October. The result was better than the expected 185k increase. On Friday the US non-farm-payrolls are expected to increase by 198k jobs in November after a 261k increase in October.

Global equity markets with the exception of the FTSE are weaker - Dow -0.04%, S&P 500 -0.01%, FTSE +0.28%, DAX -0.38%, CAC -0.02%, Nikkei -1.97%, Shanghai -0.29%.

Gold prices are up 0.3% trading at $1,263 an ounce. WTI Crude Oil prices have fallen, down 1.1%, trading at $56.90 a barrel.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>


Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>


RBNZ: Super Fund Chief To Be New Reserve Bank Governor

Adrian Orr has been appointed as Reserve Bank Governor effective from 27 March 2018, Finance Minister Grant Robertson says. More>>


ScoopPro: Helping PR Professionals Get More Out Of Scoop has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>