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

 

HiFX Morning Update, April 5 2018

HiFX Morning Update, April 5 2018

The NZDUSD opens at 0.7308 (mid-rate) this morning.

The NZD has been the strongest performing of the G10 currencies, following a volatile nights trading as the US and China trade war escalated.

Late yesterday afternoon and in retaliation to Trump’s plan to impose a 25% tariff worth $50 billion on 1,300 Chinese products, China announced the same tariff on a list of 106 U.S. goods under 14 categories, including aircraft, cars, soybeans, chemical products and orange juice.

The news sparked a sell-off in US equity markets as investors once again flocked to safe-haven currencies, with the USDJPY trading down to 106.00 before retracing the move as equity markets regained ground in the afternoon session.

The March ADP National Employment Report showed private sector employment increased by 241k jobs from February to March, well ahead of the expected 208k jobs, with February’s 235k jobs increase upwardly revised to 246k.

A pull back in the UK construction sector has seen the GBP underperform. Data from IHS Markit report showed the construction PMI fell to 47.0 in March from 51.4 in February, its largest contraction since June 2016. Economists had expected the index to edge down to 51.0.

Global equity markets remain mixed - Dow +0.28%, S&P 500 +0.13%, FTSE +0.05%, DAX -0.37%, CAC -0.20%, Nikkei +0.13%, Shanghai -0.18%.

Gold prices are little changed trading at $1,333 an ounce. WTI Crude Oil prices are holding steady, trading at $63.40 a barrel.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Budget Policy Statement: 'Wellbeing Of NZers At The Heart Of Budget Priorities'

“We want a wellbeing focus to drive the decisions we make about Government policies and Budget initiatives. This means looking beyond traditional measures - such as GDP - to a wider set of indicators of success,” Grant Robertson said. More>>

ALSO:

Short Of 2017 Record: Insurers Pay $226m Over Extreme Weather

Insurers have spent more than $226 million this year helping customers recover from extreme weather, according to data from the Insurance Council of NZ (ICNZ). More>>

Environment Commissioner: Transparent Overseer Needed To Regulate Water Quality

Overseer was originally developed as a farm management tool to calculate nutrient loss but is increasingly being used by councils in regulation... “Confidence in Overseer can only be improved by opening up its workings to greater scrutiny.” More>>

ALSO:

Deal Now Reached: Air NZ Workers Vote To Strike

Last week union members voted overwhelmingly in favour of industrial action in response to the company’s low offer and requests for cuts to sick leave and overtime. More>>

ALSO: