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


HiFX morning Update June 11 2018

The NZDUSD opens at 0.7022 (mid-rate) this morning

Geopolitical headlines are likely to dominate markets at the start of this week after US President Donald Trump accused Canadian PM Justin Trudeau of engaging in "bad faith diplomacy" and retracted his endorsement of the G7's joint communique.

Ahead of the weekend’s meeting President Trump escalated trade war tensions when he tweeted “Please tell Prime Minister Trudeau and President Macron that they are charging the U.S. massive tariffs and create non-monetary barriers". Investors have been quick to react to the breakdown in talks with the USDCAD gapping a big figure higher on the open.

Markets will be hoping for a better outcome from tomorrow’s historic summit between Trump and North Korean leader Kim Jong-un who have both arrived in Singapore ahead of tomorrow’s face-to-face meeting. Should the summit goes ahead, it will be the first ever meeting between a serving US president and a North Korean leader. President Trump with the US hoping to strike a deal that will lead to denuclearisation in return for lifting the current economic sanctions.

Monetary policy statements out of the Federal Reserve, ECB and BOJ later in the week are the key economic drivers this week with a 25 basis point hike out of the US fully priced in.

Global equity markets closed out the week mixed, - Dow +0.30%, S&P 500 +0.31%, FTSE -0.30%, DAX -0.35%, CAC +0.03%, Nikkei -0.56%, Shanghai -1.36%.

Gold prices edged lower on Friday down 0.2%, closing out the week at $1,299 an ounce. WTI Crude Oil prices were down 0.6% on Friday, to close out the week at $65.60 a barrel, for a modest weekly loss.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Manawatu-Whanganui Projects: PGF Top-Up To Rural Broadband Roll-Out

The government has effectively raided the $3 billion Provincial Growth Fund to top up the budget for the second phase of its rural broadband initiative, filling in mobile 'black spots' and ensuring broadband is available to marae that don't have access now. More>>


Other Windy Cities: Auckland-Chicago Named A Top 10 ‘Most Exciting’ New Route

The inclusion of Auckland-Chicago on Lonely Planet’s Where to fly in 2019? The 10 most exciting new flight routes list comes just two weeks before Air New Zealand prepares to celebrate its inaugural flight to Chicago’s O’Hare International Airport on 30 November. More>>

Deadly Strain: ESR Ups Its Reporting On Meningococcal Disease

The increasing number of cases of Group W Meningococcal disease (MenW) has prompted ESR to increase its reporting on the disease to the Ministry of Health. ESR has upped its reporting to weekly. More>>


Very Small Things: "Game-Changing" 3D Printing Technology Launched

New Zealand microfabrication researchers Andrea Bubendorfer and Andrew Best, the co-inventors of a new way of fabricating very small things with Laminated Resin Printing (LRP), are part of Callaghan Innovation’s MicroMaker3D team launching the new patent pending technology in the US this week. More>>