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


XE Morning Update - May 20, 2019

The NZDUSD opens at 0.6521 (mid-rate) this morning.

Risk appetite is on the rise after President Donald Trump announced a delay in imposing tariffs on imported vehicles and parts from the European Union, Japan and removed tariffs of 25% on steel and 10% on aluminium on both Canada and Mexico imports. Both announcements made post Friday’s close.

The Australian dollar is the strongest performing of the G10 currencies following the weekends shock election result, with Scott Morrison’s Coalition on track to remain in power after defeating Bill Shorten's labour party.

The weekend’s US economic data releases showed consumer sentiment has surged higher over the course of this month with the University of Michigan preliminary report showing the index has spiked to 102.4 after a final reading of 97.2 in April. Economists had forecast the index to inch up to 97.5.

Wednesday’s quarterly retail sales data release should prove to be the key domestic driver for the NZD while monetary policy minutes from both the RBA and FOMC along with the UK’s inflation data and Euro-zone PMI’s will be closely monitored by investors ahead of the weekend’s European parliamentary elections.

Global equity markets closed out the week mixed, - Dow -0.38%, S&P 500 -0.58%, FTSE -0.07%, DAX -0.58%, CAC -0.18%, Nikkei +0.89, Shanghai -2.48%.

Gold prices gave back Thursday’s gains on Friday closing out the week at $1,277 an ounce. WTI Crude Oil prices were little changed on Friday, down 0.2% closing out the week at $62.92 a barrel.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Oil Exploration: Chevron, Equinor Depart NZ

Chevron and Norwegian oil giant Equinor have opted to abandon their joint exploration efforts off the east coast of the North Island... Chevron said the decision not to proceed with the next five-year stage of their work programmes was based on the firms’ broader portfolio considerations and not “policy or regulatory concerns.” More>>


Reference Group Proposal: Motorists, MTI Support Ban On Less Safe Car Imports

A proposal to ban some used car models from being imported into New Zealand is being welcomed by the Motor Industry Association, which says Japan's scraps are being sent here for waste disposal. More>>


Gordon Campbell: On Asking The Banks To Be Nicer To Farmers

Few would begrudge the idea that banks should be made to act more humanely – given the obscene profits that the Aussie banks are extracting annually from New Zealand, they can surely afford to cut some slack. More>>


Wider Net Ban, Other Threats: Plan To Expand Protection For Maui And Hector’s Dolphins

The Government is taking action to expand and strengthen the protection for Māui and Hector’s dolphins with an updated plan to deal with threats to these native marine mammals. More>>