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

 

HiFX morning Update, September 26 2018


NZDUSD 0.6648 0.1%
NZDEUR 0.5648 0.0%
NZDGBP 0.5043 -0.4%
NZDJPY 75.08 0.3%
NZDAUD 0.9168 0.2%
NZDCAD 0.8610 0.2%
GBPNZD 1.9829 0.4%

The NZD made small gains overnight, and the USD drifted lower ahead of Thursday mornings (6am NZ time) next dose of US Federal Reserve monetary policy tightening. The markets will be keenly focused on the Fed’s view on the US economy as well as guidance for rates for next year.

US President Trump told the United Nations that the trade deficit with China “is just not acceptable.” A Chinese official said it was difficult to proceed with trade talks while the US was putting “a knife to China’s neck.” It doesn’t appear trade tensions are going to reduce anytime soon.

European Central Bank President Mario Draghi expressed confidence in euro zone inflation and wage growth – the EUR rose in response.

Emerging markets remain on the rack.

The domestic calendar has NZ trade balance at 10:45am, followed by ANZ Business Confidence figures at 1pm. Business Confidence has been dire of late – it will be interesting to see if this trend continues.

The RBNZ will be holding the OCR (official cash rate) at 1.75% tomorrow and is likely to reiterate its dovish outlook. The RBNZ will continue to be concerned with the low level of inflation, global trade tensions, and risks of an NZ economic slowdown.

Global equity markets were mixed on the day - Dow -0.2%, S&P 500 -0.1%, FTSE +0.7%, DAX +0.2%, CAC +0.1%, Nikkei +0.3%, Shanghai -0.6%.

Gold prices are slipped 0.2% to USD$1,199 an ounce, while WTI Crude Oil prices were flat at US$70.80 per barrel.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

21, 22, 23 December: Air NZ Workers Vote To Strike

Last week union members voted overwhelmingly in favour of industrial action in response to the company’s low offer and requests for cuts to sick leave and overtime. More>>

ALSO:

24/7: National Geohazards Monitoring Centre Opens

For the first time, New Zealand will have 24-7 “eyes on” monitoring of the four perils: earthquake, tsunami, landslides and volcanic activity. More>>

ALSO:

EU Wine Exports: Yealands Fined For "Unprecedented Offending"

Yealands Estate Wines has pleaded guilty to “unprecedented offending” under the Wine Act 2003 and has copped a $400,000 fine. More>>

ALSO:

Discussion Paper: Govt To Act On Unfair Commercial Practices

“I’ve heard about traders who have used aggressive tactics to sell products to vulnerable consumers, and businesses that were powerless to stop suppliers varying the terms of their contract, including price.” More>>

ALSO:

'Considering Options' On Tip Top Ownership: Fonterra Drops Forecast Milk Price

Fonterra Co-operative Group Limited today revised its 2018/19 forecast Farmgate Milk Price range from $6.25-$6.50 per kgMS to $6.00-$6.30 per kgMS and shared an update on its first quarter business performance. More>>

ALSO: