Scoop has an Ethical Paywall
HiFX morning Update, October 18, 2018
The NZDUSD opens at 0.6559 (mid-rate) this morning.
The USD is trading moderately higher following the release of the FOMC meeting minutes from their September meeting.
Fed officials “anticipated that further gradual increases in the target range for the federal funds rate would most likely be consistent with a sustained economic expansion, strong labour market conditions, and inflation near 2 percent over the medium term," with some members indicating that there might be a period where the Fed will need to go beyond normalization of rates and into a more restrictive stance. The Fed has now raised interest rates three times this year and appears on track to hike again in December.
This morning Eurostat data revealed Euro-zone consumer price inflation accelerated by 2.1% in September exceeding the ECB’s target of below 2%, and in line with economists’ forecasts.
September consumer price inflation in the UK came up shy of economists’ estimates with the Office for National Statistics reporting inflation slowed to 2.4% down from 2.7% in August and below economists’ estimates of 2.6%.
This afternoon the NZDAUD cross rate will be dictated by Australia’s monthly employment report due for release at 13:30.
Global Equity markets are mixed, - Dow -0.21%, S&P 500 -0.05%, FTSE -0.07%, DAX -0.52%, CAC -0.54%, Nikkei +1.29%, Shanghai +0.60%.
Gold prices are little changed at $1,223 an ounce. WTI Crude Oil prices have fallen sharply, down 2.3% trading at $70.09 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
John Mazenier: Gaffer Tape And Glue Delivering New Zealand’s Mission Critical Services
Earthquake Commission: Ivan Skinner Award Winner Inspired By Real-life Earthquake Experience
Reserve Bank: Consultation Opens On A Digital Currency For New Zealand
NIWA: Ship Anchors May Cause Extensive And Long-lasting Damage To The Seafloor, According To New Research
New Zealand Customs Service: A Step Forward For Simpler Trade Between New Zealand And Singapore
Horizon Research: 68% Say Make Banks Offer Fraud Protection
