Scoop has an Ethical Paywall
HiFX Morning Update, February 12 2018
HiFX Morning Update, February 12 2018
The NZDUSD opens
at 0.7245 (mid-rate) this morning.
Currency markets traded tight ranges on Friday as volatile global equity markets continued to take centre stage.
US equity markets turned positive on the day as traders reacted to news that lawmakers have managed to end a short government shutdown with a bill raising spending caps and funding the government until March 23rd.
The NZD was the strongest performer of the G10 currencies with the British pound the weakest. The GBP fell after the Office for National Statistics reported an increase in the UK’s trade deficit to GBP 13.57b in December from GBP 12.45b in November. Economists had expected a shortfall of GBP 11.55 b.
US wholesale inventories increased by more than expected in December with the Commerce Department report showing wholesale inventories rose by 0.4% in December after climbing by a revised 0.6% in November. Economists had expected inventories to inch up by 0.2%.
Domestically Wednesday’s quarterly Inflation Expectations data release will be key to the NZD’s performance while on Thursday morning the US CPI and retail sales data releases will be key drivers for both the USD and equity markets.
US equity markets had a positive close on Friday , - Dow +1.38%, S&P 500 +1.49%, FTSE -1.09%, DAX -1.25%, CAC -1.41%, Nikkei -2.32%, Shanghai -4.05%.
Gold prices inched lower on Friday, edging down 0.1%
closing out the week at $1,315 an ounce, WTI Crude Oil
prices fell sharply on Friday, down 3.1%, closing out the
week $59.20 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
Business Canterbury: Urges Council To Cut Costs, Not Ambition For City
Wellington Airport: On Track For Net Zero Emissions By 2028
Landcare Research: ANZAC Gall Fly Release Promises Natural Solution To Weed Threat
NZ Anti-Vivisection Society: Auckland Rat Lovers Unite!
University of Canterbury: $1.35 Million Grant To Study Lion-like Jumping Spiders
Federated Farmers: Government Ends War On Farming
