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

 

HiFX morning Update, November 8, 2018


NZDUSD 0.6789 1.8%
NZDEUR 0.5926 1.4%
NZDGBP 0.5166 1.4%
NZDJPY 76.93 1.7%
NZDAUD 0.9325 0.9%
NZDCAD 0.8898 1.6%
GBPNZD 1.9357 -1.4%


.

Not surprisingly, following yesterday’s stellar employment report the NZD has been the standout performer over the past 24 hours, and has surged higher against all its trading partners. Direction for the dollar from here will be dictated by this morning’s RBNZ monetary policy statement.

Yesterday’s midterm elections result has divided Congress with the Democrats taking control of the House of Representatives and the Republicans gaining a greater majority in the Senate and has resulted in a sharp fall for the USD and a spike in US equities. Yield on the 10-year Treasury note which traded as high as 3.25% as early predictions had the Republicans ahead in both elections is now trading back below 3.20% following the result. A divided Congress is typically seen as a good thing as neither party is able to make sweeping changes to legislation and although President Trump is unlikely to pass further tax cuts, the current tax cuts that he has put in place cannot be reversed.

Although a mid-November EU summit is now looking unlikely. Theresa May has called for an emergency cabinet meeting with the hope of signing off on a Brexit divorce deal, and meeting with her EU counterparts before the end of the month.

Global equity markets remain mixed, - Dow +1.34%, S&P 500 +1.54%, FTSE +1.09%, DAX +0.83%, CAC +1.24%, Nikkei -0.28%, Shanghai -0.68%.

Gold prices are unchanged trading at $1,226 an ounce. WTI Crude Oil have fallen further, down 0.3% trading at $61.55 a barrel.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Manawatu-Whanganui Projects: PGF Top-Up To Rural Broadband Roll-Out

The government has effectively raided the $3 billion Provincial Growth Fund to top up the budget for the second phase of its rural broadband initiative, filling in mobile 'black spots' and ensuring broadband is available to marae that don't have access now. More>>

ALSO:

Other Windy Cities: Auckland-Chicago Named A Top 10 ‘Most Exciting’ New Route

The inclusion of Auckland-Chicago on Lonely Planet’s Where to fly in 2019? The 10 most exciting new flight routes list comes just two weeks before Air New Zealand prepares to celebrate its inaugural flight to Chicago’s O’Hare International Airport on 30 November. More>>

Deadly Strain: ESR Ups Its Reporting On Meningococcal Disease

The increasing number of cases of Group W Meningococcal disease (MenW) has prompted ESR to increase its reporting on the disease to the Ministry of Health. ESR has upped its reporting to weekly. More>>

ALSO:

Very Small Things: "Game-Changing" 3D Printing Technology Launched

New Zealand microfabrication researchers Andrea Bubendorfer and Andrew Best, the co-inventors of a new way of fabricating very small things with Laminated Resin Printing (LRP), are part of Callaghan Innovation’s MicroMaker3D team launching the new patent pending technology in the US this week. More>>

ALSO: