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


HiFX morning Update, August 21 2018

NZDUSD 0.6632 0.0%
NZDEUR 0.5785 -0.3%
NZDGBP 0.5186 -0.4%
NZDJPY 73.10 -0.3%
NZDAUD 0.9053 -0.3%
NZDCAD 0.8657 -0.1%
GBPNZD 1.9283 0.4%

The NZDUSD opens at 0.6632 (mid-rate) this morning.

Global equity markets have pushed higher with sentiment improving on the back of this week’s low-level trade talks between China and the US.

An absence of economic data has seen currency markets consolidate with investors looking ahead to Thursday’s FOMC meeting minutes and the weekend’s meeting of central bankers at Jackson Hole for guidance.

On Monday following 8-years of austerity measures Greece emerged from its third and final bailout. Beginning in 2010 Greece received a total of EUR 289b in three tranches, in 2010, 2012, and 2015. Greece can now borrow again on international markets to fund its activities and although they are currently due to start repaying some of the loans in 2023 they have requested a ten year extension from the Board of Directors of the European Financial Stability Facility.

Direction for the NZDAUD cross rate will be dictated by this afternoon’s RBA monetary policy meeting minutes due for release at 13:30, while overnight the latest global dairy trade auction will hold investors’ attention ahead of tomorrow’s retail sales report.

Global equity markets are broadly higher, - Dow +0.36%, S&P 500 +0.29%, FTSE +0.43%, DAX +0.99%, CAC +0.65%, Nikkei -0.32%, Shanghai +1.11%.

Gold prices have edged higher, up 0.3% trading at $1,188 an ounce WTI Crude Oil prices have inched up 0.3% trading at $66.38 a barrel.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Electricity Market: Power Panel Favours Scrapping Low-Fixed Charges

An independent panel reviewing electricity prices favours scrapping the government’s low-user fixed charge regime, banning the use of prompt-payment discounts, and requiring greater disclosure of the profit split between the retail and generation arms of the major power companies. More>>


Bottomless Oil And Zero Climate Cost: Greenpeace Not Big On PEPANZ Gas Ban Report

The NZIER report commissioned by oil industry body, PEPANZ, claims the oil and gas ban issued by the Government last April could cost the the New Zealand economy $28 billion by 2050... But Greenpeace says the figures in the report are based on false assumptions and alternative facts. More>>


Two Queensland Fruit Flies And A Different One In Otara: Devonport Fruit And Veg Lockdown

Work continues at pace on the biosecurity response following the discovery last week of one male Queensland fruit fly in a surveillance trap in the Auckland suburb of Devonport. More>>


Digital Services Tax: Government To Plan Tax On Web Operator Income

New Zealand is to consult on the design of changes to tax rules which currently allow multinational companies in the digital services field to do business here without paying income tax. More>>