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

 

HiFX Morning Update, March 27 2018

HiFX Morning Update, March 27 2018

The NZDUSD opens at 0.7297 (mid-rate) this morning.

The NZD is trading higher against all its rivals with risk appetite returning after news broke that the US and China have engaged in talks for refining access of US goods to China.

US Treasury Secretary Steven Mnuchin during a Fox News interview, stated "We're having very productive conversations” with China, and that he is "cautiously hopeful" a trade agreement can be reached. US equities rallied strongly on the news with the Dow currently up 2.0%.

The EUR strengthened overnight after ECB Governing Council Member Jens Weidmann said the ECB should begin policy normalization without any delay, and hopes for a rate hike around mid-2019 are "not completely unrealistic,". Mr Weidmann who also heads the Bundesbank was speaking at a conference at the Austrian Central Bank.

This morning FOMC Member Loretta Mester is due to speak about the economic outlook and monetary policy at Princeton University while overnight tonight US consumer confidence index is expected to nudge up to 131.2 in March a slight increase from February’s 130.8 reading.

Global equity markets are mixed - Dow +1.84%, S&P 500 +1.50%, FTSE -0.48%, DAX -0.83%, CAC -0.57%, Nikkei +0.72%, Shanghai -0.60%.

Gold prices are up 0.6% trading at $1,354 an ounce. WTI Crude Oil prices are down 0.5% over the past 24 hours, trading at $65.36 a barrel.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Up $1.20: $17.70 Minimum Wage Next Year

Coalition Government signals how it will move toward its goal of a $20 p/h minimum wage by 2021... “Today we are announcing that the minimum wage will increase to $17.70 an hour on 1 April 2019." More>>

ALSO:

Reserve Bank: Capital Proposals Are 'Radical', Says Fitch

International credit rating agency Fitch says the Reserve Bank's proposals for increased bank capital adequacy ratios are "radical" and "highly conservative relative to international peers", but the result will ultimately be "significantly stronger buffers" against financial system shocks. More>>

ALSO:

Regions And Skills: Work Visa Proposals 'Step In The Right Direction'

Immigration Minister Iain Lees-Galloway announced yesterday that the Government is consulting on proposed changes to employer-assisted temporary work visa settings to ensure that work visas issued reflect genuine regional skill shortages. More>>

ALSO:

Long Commutes: Hamilton To Auckland Passenger Rail Trial Gets Green Light

The NZ Transport Agency Board has approved a business case for the next steps in a start-up trial Hamilton to Auckland passenger rail service, Transport Minister Phil Twyford announced. More>>

ALSO:

Working Group Update: Mycoplasma Bovis Eradication Making Substantial Progress

International experts are impressed by New Zealand’s efforts to eradicate the cattle disease Mycoplasma bovis and are more confident the campaign is working... More>>

ALSO:

Immigration: Arrest For Human Trafficking And Slavery

It is alleged that the man, who is a Samoan national and New Zealand resident, has been regularly bringing Samoan nationals to New Zealand to work illegally for him in the horticultural industry. More>>

ALSO: