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

 

HiFX morning Update, August 15 2018

The NZDUSD opens at 0.6774 (mid-rate) this morning.

Another quiet night with the NZD more than holding its own against the majority of its rivals as risk appetite increased.

Concerns about the financial crisis in Turkey have eased with the Turkish lira recovering from a record low after Turkey's central bank pledged to provide liquidity and cut reserve requirements for banks.

Overnight Germany's economic growth exceeded forecasts for Q2 with the Destatis report showing the economy expanded by 0.5% sequentially, following the 0.4% increase in Q1. Economists had expected the growth rate to remain at 0.4%. On an annual basis GDP growth sits at 2.3%. Germany’s consumer price inflation came in as expected for the month of July. The report showed inflation moderated to a 3-month low of 2.0% following on from June’s 2.1% reading.

A mixed employment report out of the UK saw the GBP slip lower. Although the unemployment rate unexpectedly fell to 4.0% down from 4.2% in the 3-months to June investors focused on the lack of wage growth which slowed to a 9-month low of 2.4% for the same period.

Today the NZDAUD cross rate will dictated by Australia’s wage price index data release, due to hit the tapes at 13:30, while overnight tonight investors will look to the US retail sales report for guidance.

Global equity markets are mixed, - Dow +0.52%, S&P 500 +0.64%, FTSE -0.40%, DAX 0.00%, CAC -0.16%, Nikkei +2.28%, Shanghai -0.18%.

Gold prices are unchanged, trading at $1,193 an ounce WTI Crude Oil prices have are up 1.0% trading at $66.59 a barrel.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Up 0.5% In June Quarter: Services Lead GDP Growth

“Service industries, which represent about two-thirds of the economy, were the main contributor to GDP growth in the quarter, rising 0.7 percent off the back of a subdued result in the March 2019 quarter.” More>>

ALSO:

Pickers: Letter To Immigration Minister From Early Harvesting Growers

A group of horticultural growers are frustrated by many months of inaction by the Minister who has failed to announce additional immigrant workers from overseas will be allowed into New Zealand to assist with harvesting early stage crops such as asparagus and strawberries. More>>

ALSO:

Non-Giant Fossil Disoveries: Scientists Discover One Of World’s Oldest Bird Species

At 62 million-years-old, the newly-discovered Protodontopteryx ruthae, is one of the oldest named bird species in the world. It lived in New Zealand soon after the dinosaurs died out. More>>

Rural Employers Keen, Migrants Iffy: Employment Visa Changes Announced

“We are committed to ensuring that businesses are able to get the workers they need to fill critical skills shortages, while encouraging employers and regions to work together on long term workforce planning including supporting New Zealanders with the training they need to fill the gaps,” says Iain Lees-Galloway. More>>

ALSO:

Marsden Pipeline Rupture: Report Calls For Supply Improvements, Backs Digger Blame

The report makes several recommendations on how the sector can better prevent, prepare for, respond to, and recover from an incident. In particular, we consider it essential that government and industry work together to put in place and regularly practise sector-wide response plans, to improve the response to any future incident… More>>

ALSO: