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


HiFX Morning Update, April 27 2018

HiFX Morning Update, April 27 2018

The NZDUSD opens at 0.7064 (mid-rate) this morning.

The NZDUSD has traded a 158 point or 2.2% range this week. The Kiwi has broken through this year's familiar 0.7200 to 0.7400 range, and the 200 moving day average of 0.7184, to test support at 0.7050.

Although we have entered oversold territory (Relative Strength Index at 29.9), don’t rule out a test of 0.7000 before a rally back to 0.7150 which would represent the 38.2 Fibonacci Retracement of a 0.7000 to 0.7395 (April 13th high) range.

The European Central Bank (ECB) held interest rates steady overnight, as investors eagerly awaited any further guidance over the bank's monetary stimulus program. The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively.

The Governing Council expects the key ECB interest rates to remain at their present levels for an extended period of time, and well past the horizon of the net asset purchases. Regarding non-standard monetary policy measures, the ECB confirmed that the net asset purchases, at the current monthly pace of €30 billion, are intended to run until the end of September 2018, or beyond, if necessary.

In the week ending April 21, the advance figure for seasonally adjusted U.S. Initial Claims was 209,000, a decrease of 24,000 from the previous week's revised level. This is the lowest level for initial claims since December 6, 1969 when it was 202,000. The previous week's level was revised up by 1,000 from 232,000 to 233,000. The 4-week moving average was 229,250

U.S. Orders for Durable Goods (long-lasting or made to last at least 3 years) jumped 2.6% in March, riding a big increase in contracts for Boeing planes. Market consensus was for a 2.5% increase. Business investment fell for the third time in four months. U.S. Core Durable Goods Orders (Durable Goods minus transportation i.e. planes, buses and cars) were unchanged.

The U.S. Trade Deficit was $68.0 billion in March, down $7.8 billion from $75.9 billion in February. Exports of goods for March were $140.1 billion, $3.4 billion more than February exports. Imports of goods for March were $208.1 billion, $4.4 billion less than February imports.

U.S. Advance Wholesale Inventories Wholesale inventories for March, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $628.8 billion, up 0.5% (±0.2%) from February 2018, and were up 5.8% (±0.9%) from March 2017.

Global equity markets are higher except China: Dow +1.15%, S&P 500 +1.27%, FTSE +0.57%, DAX +0.63%, CAC +0.74%, Nikkei +0.47%, Shanghai -1.38%

Gold prices have fallen a further $5 or 0.4% to $1,317 an ounce. WTI Crude Oil prices have regained 0.5% currently trading at $68.23 a barrel.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Still Gaining: More Migrants Head Back Overseas

Annual net migration is down 4,800 from a high point a year ago, largely because more non-New Zealand citizens are leaving the country, Stats NZ said today. More>>

Christchurch: Red Zone Used To Boost Endangered Bee Population

“May 20 has been declared World Bee Day by the United Nations, and I am pleased to announce today that we have been able to use the red zone to protect and grow our native bee stocks,” says Minister Megan Woods. More>>

Trips, Support, Conferences For Agents: Insurers Spend $34 Million On Soft Commissions

“We are concerned that insurers are designing and offering incentives that potentially set advisers up to fail in complying with their obligations.” More>>


Privacy Commissioner: Facial Recognition Tech Not Reliable

The Privacy Commissioner says businesses should take great care when using facial recognition technology because there is a high risk of misidentification. More>>

Compliance Costs: Cheesemakers "Have A Reason To Smile"

Delighted to be a guest at The Great Eketahuna Cheese Festival today, Mr O’Connor launched the Food Safety Template for Cheesemakers – a tool to help cheesemakers producing cheese for New Zealand and Australia to meet food safety requirements. More>>

Te Uru Rākau: NZ Forestry Now Future Proofed

The Associate Minister of Forestry the Hon Meka Whaitiri says the launch of Te Uru Rākau will mean that the New Zealand forestry industry will be future proofed. More>>


Minister Of Tourism Speech: TRENZ 2018

Tourism is an economic bedrock. It’s our biggest export earner, employs hundreds of thousands of people, and the industry is the world’s window into our beautiful country. More>>