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

 

HiFX Morning Update, May 15 2018

The NZDUSD opens at 0.6915 (mid-rate) this morning.

In the absence of any notable economic data releases currency markets have had a slow start to the week with the NZD the notable underperformer.

The NZD has been on the back foot since Thursday’s dovish Reserve Bank statement and has been unable to sustain any sort of rally.

The EUR received a boost overnight after European Central Bank policy maker Francois Villeroy de Galhau signalled that he expects bond purchases to end later this year and that the ECB could expect to hike rates in 2019. In an interview in Paris, the French central banker announced that inflation should accelerate in the coming months as underlying price pressures increase.

Direction during our trading day will be dictated by this afternoon’s China retail sales and industrial production data releases, while overnight tonight investors will look to the US retail sales before adding to their portfolios.

Global equity markets are mixed- Dow +0.25%, S&P 500 -0.04%, FTSE -0.18%, DAX -0.18%, CAC -0.02%, Nikkei +0.47%, Shanghai +0.34%.

Gold prices are little changed trading at $1,313 an ounce. WTI Crude Oil prices have edged higher, up 0.3% trading at $70.69 a barrel.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

PM In Taranaki: 'Collaborative Approach' On Oil And Gas Transition

The Prime Minister is meeting with local government leaders, energy industry representatives and workers about the Government’s plans for a just transition to a low emissions economy. More>>

ALSO:

Taxing Multinationals: Next Step To Improve System

New legislation to improve the fairness of the tax system and prevent large multinationals from exploiting rules in order to shift their profits offshore has passed another step closer to becoming law. More>>

A Fuel And His Money: Petrol Prices Hit Records

The cost of 91 octane in Wellington and the South Island hit $2.30 a litre last week, beating the previous high set in 2013. Crude oil prices have been rising globally while the New Zealand dollar has fallen, making the cost of fuel more expensive. More>>

ALSO:

NZentry: EU And NZ To Start Free Trade Talks

A free trade deal between New Zealand and the European Union (EU) has taken a major step forward with the announcement overnight that the EU’s Foreign Affairs Council has approved its negotiating mandate. More>>

ALSO:

You'd Hope: Employers Told To Pay Minimum Wage

Advertisers offering jobs to backpackers are being told they must pay the minimum wage or risk prosecution. Last week, RNZ revealed a job website - Backpackerboard - was advertising roles below the $16.50 per hour minimum wage. More>>

ALSO:

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>>