Scoop has an Ethical Paywall
HiFX Morning Update July 11, 2018
The NZDUSD opens at 0.6838 (mid-rate) this morning.
A lack of tier one economic data has seen markets consolidate, with the NZD little changed against the majority of its trading partners.
In the first ever monthly estimate, UK gross domestic product rose 0.3% m/m in May following on from a 0.2% rise in April and a flat reading in March. The 0.3% increase is the strongest since November 2017 and increases the likelihood that the Bank of England will hike rates in August.
German investor confidence now sits at a 6-year low with survey data from the Centre for European Economic Research showing the ZEW Indicator of Economic Sentiment plummeted 8.6 points to minus 24.7 in July, its lowest level since August 2012. Economists had expected the index to edge down to -17.9 from June’s reading of -16.1.
Strikes by oil workers in Norway and Gabon have seen oil prices push higher with West Texas Intermediate crude now trading back above $72.50 a barrel.
Economic data during our trading session is again thin at best, while overnight the latest Bank of Canada monetary policy statement along with US crude oil inventories will be the main focus for investors.
Global equity markets are pushing higher, - Dow +0.5%, S&P 500 +0.24%, FTSE +0.05%, DAX +0.53%, CAC +0.67%, Nikkei +0.66%, Shanghai +0.44%.
Gold prices are little changed trading at $1,256 an ounce WTI Crude Oil prices are again higher, up 0.9% trading at $72.56 a barrel.
ends
HiFX
International Payments Expertly Done
HiFX is one of the largest foreign exchange and international payment specialists in the world, managing over $30 billion on behalf of over 100,000 clients worldwide every year.
Large enough to undertake the biggest transactions, yet small enough to care about each and every one – send and receive overseas payments and manage your account anytime, anywhere. HiFX gives you the flexibility you need to transfer money quickly and easily via a secure online platform 24 hours a day, seven days a week - making moving money as easy as 1,2,3.
HiFX Ltd ABN 54 106 779 953/ AFSL No 240914
Business Canterbury: Urges Council To Cut Costs, Not Ambition For City
Wellington Airport: On Track For Net Zero Emissions By 2028
Landcare Research: ANZAC Gall Fly Release Promises Natural Solution To Weed Threat
NZ Anti-Vivisection Society: Auckland Rat Lovers Unite!
University of Canterbury: $1.35 Million Grant To Study Lion-like Jumping Spiders
Federated Farmers: Government Ends War On Farming
