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

 

XE Morning Update - July 9, 2019

The NZDUSD opens at 0.6622 (mid-rate) this morning.

Markets are reasonably subdued ahead of Fed Chair Jerome Powell's congressional testimony in the early hours of Thursday morning. Powell will be addressing congress on monetary policy and the state of the US economy, with investors keen to see the Fed’s views on potential rate cuts in the near future.

Following Friday’s stellar employment report market expectations which were for the Fed to cut rates by 50 basis points on the 31st July, are as of this morning pointing to a 25 basis point reduction in the funds rate with investors looking to Powell’s testimony before adjusting their expectations further.

Overnight data from Destatis showed Germany's industrial production and exports recovered in May with industrial output increasing by 0.3% m/m following a 2.0% fall in April. Exports were up 1.1% during May after plummeting 3.45 in April.

Global equity markets are in the red, - Dow -0.57%, S&P 500 -0.65%, FTSE -0.05%, DAX -0.20%, CAC -0.08%, Nikkei -0.98%, Shanghai -2.58%.

Gold prices are little changed, trading at $1,396 an ounce. WTI Crude Oil prices have inched higher overnight, up 0.6% Trading at $57.95 a barrel.

ends



© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Survey: NZ's Appetite For Eating Insects

When it comes to eating insects, New Zealanders like them crunchy and if given a choice would opt to eat a black field cricket before other creepy-crawlies, according to a new AgResearch report that explores the nation’s appetite for insects. More>>

ALSO:

Sweden Crash: CAA Grounds 21 Aircraft Over Safety Concerns

The Director of Civil Aviation Graeme Harris, has today, Saturday 20 July, 2019 suspended the airworthiness certificates of all 21 Gippsland GA8 Airvan aircraft currently operating in New Zealand. More>>

ALSO:

Emission Statement: No New Coal Boilers For Fonterra

Fonterra is shaving eleven years off its coal target, as it announces a new commitment to reduce its reliance on coal. More>>

ALSO:

Long Time Coming: Soil Turned On Waimea Dam

After almost 20 years of planning and a 'gruelling' process to keep the project on track, the Waimea Community Dam, one of the Tasman District's largest-ever projects, is now under way. More>>