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

 

HiFX morning Update, October 11, 2018

The NZD opens flat against the USD at 0.6466

A reasonably quiet day for the NZD, moving in about a 1% range before ending flat. It is actually holding up relatively well given the risk off tone, and the fact that global stocks are off about 2% across the board.

The slight misses is UK data overnight were overshadowed by the latest positive Brexit news. The EU’s Chief Negotiator Barnier came out saying that 80-85% of the Brexit Treaty is agreed. He also said a deal is within reach by Wednesday, October 17. The more and more that the 17th gets priced in as a possible deal date, the more volatile it will be should the market be disappointed with a push out to November. Those with Pound exposure will need to start weighing up whether two and a half year highs are good enough, or if they are prepared to ride out the expected volatility of the coming weeks/months.

Another light data day, although data is not really driving things lately, taking a back seat to headlines and positioning. US CPI overnight is the only real highlight.

Global Equity markets are pretty heavily down: Dow -2.03%, S&P 500 -2.06%, FTSE -1.27%, DAX -2.21%, CAC -2.11%, Nikkei 0.16%, Shanghai +0.18%.

Gold prices are up 0.3% overnight trading at $1,195 an ounce. WTI Crude Oil prices have dropped back, down 2.4% trading at $73.26 a barrel.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Budget Policy Statement: 'Wellbeing Of NZers At The Heart Of Budget Priorities'

“We want a wellbeing focus to drive the decisions we make about Government policies and Budget initiatives. This means looking beyond traditional measures - such as GDP - to a wider set of indicators of success,” Grant Robertson said. More>>

ALSO:

Short Of 2017 Record: Insurers Pay $226m Over Extreme Weather

Insurers have spent more than $226 million this year helping customers recover from extreme weather, according to data from the Insurance Council of NZ (ICNZ). More>>

Environment Commissioner: Transparent Overseer Needed To Regulate Water Quality

Overseer was originally developed as a farm management tool to calculate nutrient loss but is increasingly being used by councils in regulation... “Confidence in Overseer can only be improved by opening up its workings to greater scrutiny.” More>>

ALSO:

Deal Now Reached: 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: