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


HiFX morning Update June 15 2018

The NZDUSD opens at 0.6987 (mid-rate) this morning.

A dovish ECB has seen the EUR hit hard, while the USD is stronger across the board after the FOMC statement yesterday morning. The Kiwi has put in a mixed performance in the last 24 hours – lower against the USD and JPY, but higher against the other majors.

The Kiwi has traded an 81 point or 1.15% range this week against the USD, which was also Thursday’s date range. While the NZD/USD has moved lower this week we would have expected a bigger move to the downside, which is surely coming in the weeks ahead after the Fed rate hike.

The NZD/AUD has traded a 130 point range or 1.41% this week – surging to a high of 0.9338 from 0.9208.

ECB’s Draghi signalled that Net Asset purchases currently at a monthly pace of EUR 30 billion, will end at the end of September 2018, subject to incoming data, then at EUR 15 billion to the end of December 2018. The Governing Council decided that the interest rate on the main refinancing operations, marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively.

In the week ending June 9, the advance figure for seasonally adjusted U.S. Initial Claims was 218,000, a decrease of 4,000 from the previous week's unrevised level of 222,000. The 4-week moving average was 224,250.
U.S. Retail Sales posted the biggest gain in six months jumping 0.8% last month ahead of the market consensus of a 0.4% rise. Retail Sales were up 5.9% from May 2017.

U.K. Retail Sales increased 1.3% in May 2018 from April and up 3.9% from May 2017

Global equity remain mixed: Dow -0.23%, S&P 500 +0.19%, FTSE +0.81%, DAX +1.68%, CAC +1.39%, Nikkei -0.99%, Shanghai -0.18%.

Gold prices have rallied 0.7% trading at $1,302 an ounce. WTI Crude Oil prices surged 0.9% higher trading at $66.97 a barrel.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Te Kuha: Govt Declines Application To Mine Conservation Land

An application to mine coal on public conservation land near Te Kuha in the Buller District has been declined, Minister of Conservation Eugenie Sage and Minister of Energy Resources Megan Woods announced today. More>>


Fieldays: Deer Milk Wins Innovation Award

Pāmu’s (formerly Landcorp) focus on innovation in the food business has been recognised at the 50th Fieldays, winning the Innovation Grassroots awards, with its ground-breaking deer milk product. More>>


Milking It: Regulator Concerned At Fonterra's Price Calculations

The Commerce Commission says it is concerned that the 'asset beta' Fonterra Cooperative Group uses to determine the farmgate milk price is too low, meaning it ends up paying its farmers a higher price for their milk than would be warranted under the company's enabling law. More>>


Antarctica: Waves Trigger Ice Shelf Collapse

Ocean waves following sea ice loss trigger Antarctic ice shelf collapse Storm-driven ocean swells have triggered the catastrophic disintegration of Antarctic ice shelves in recent decades, according to new research published in Nature. More>>


Housing: National Affordability Worsens

The major change that can be seen in the most recent data is worsening affordability for first-home buyers at that national level, driven by higher house prices in Auckland, Wellington, Christchurch, Hamilton and Tauranga. More>>


Avocados Are Toast: Prices Smash Records

Avocado prices rose 37 percent in May to record levels after a small harvest, Stats NZ said today. However, prices fell for other fruit and vegetables, such as mandarins and broccoli. More>>