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

 

HiFX Morning Update, October 20, 2016

HiFX Morning Update, October 20, 2016

NZDUSD 0.7228 0.4%
NZDEUR 0.6589 0.5%
NZDGBP 0.5892 0.7%
NZDJPY 74.71 -0.1%
NZDAUD 0.9365 -0.3%
NZDCAD 0.9489 0.5%

The NZDUSD opens at 0.7228 (mid-rate) this morning.

The NZD has been happy to trade tight ranges against all its rivals opening this morning having made small gains against most of the majors.

This morning’s US housing data produced a mixed result with building permits for September exceeding expectations 1.23m Vs exp 1.17m while housing starts plunged by 9% to an annual rate of 1.047m in September after falling 5.6% in August.

The Bank of Canada left their overnight cash rate unchanged at 0.5% helping push the CAD higher before the move was reversed after Central Bank Gov Poloz in the accompanying press conference announced that the BoC had actively discussed adding to their current stimulus.

Crude oil prices spiked overnight after Saudi Arabia's oil minister said certain non-OPEC countries will join OPEC and Russia in curbing supplies, and the latest US Crude Oil Inventories report showed a decline in stockpiles of -5.2m barrels.

This afternoons Australian employment report will dictate direction of the NZDAUD cross rate while currencies are likely to continue to trade sideways ahead of the final US election debate.

Tonight all eyes will be on the European Central Bank’s latest rate announcement amid worries the ECB may start to taper their bond purchases.

Global equity markets have continued to edge higher - Dow +0.47%, S&P 500 +0.37%, FTSE +0.31%, DAX +0.13%, CAC +0.25%, Nikkei +0.21%, Shanghai +0.03%.

Gold prices are up 0.6% currently trading at $1,266 an ounce, WTI Crude Oil has surged higher currently up 3.2% at $51.70 a barrel.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Economy: Double-Dip Recession Next Year, But Housing Rolls On

New Zealand's economy is expected to slip back into recession early next year as delayed job losses, falling consumer spending, and the absence of international tourists bites into growth. More>>

ALSO:

Microsoft New Zealand: Microsoft Expands “Highway To A Hundred Unicorns” Initiative To Support Startups In Asia Pacific

New Zealand, 14 October 2020 – Today Microsoft for Startups launches the Highway to a Hundred Unicorns initiative in Asia Pacific to strengthen the region’s startup ecosystem. This follows the initiative’s success in India, where 56 startups were ... More>>

Fonterra: Farmers Taking Another Step Towards New Zealand’s Low Emissions Food Production

They’re hot off the press and intended to help take the heat out of climate change. Fonterra farmers are already among the world’s most sustainable producers of milk and now have an additional tool in their sustainability toolbox. Over the last few ... More>>

ALSO:

Electricity: New Zealand Remains In Top 10 For Energy Balance

The World Energy Council’s Energy Trilemma Index has become part of the energy dialogue both globally and in New Zealand. The Index illustrates the need for countries to balance energy security, energy equity and environmental sustainability. New Zealand ... More>>

ALSO:

FIRST Union: Thousands Of Union Members At Countdown Feel Effect Of First Paycheque Under New Rates

Over the last week, around 7000 FIRST Union members who work at Countdown received their first payslips under new rates agreed in a Collective Agreement signed with the employer last November that will see thousands moving onto living wages, transparent ... More>>

ALSO:


OECD: Area Employment Rate Falls By 4.0 Percentage Points, To 64.6% In Second Quarter Of 2020

The OECD area employment rate – the share of the working-age population with jobs – fell by 4.0 percentage points, to 64.6%, in the second quarter of 2020, its lowest level since the fourth quarter of 2010. Across the OECD area, 560 million persons ... More>>

Spark: Turns On 5G In Auckland And Offers A Glimpse Into The Future Of Smart Cities

Spark turned on 5G in downtown Auckland today and has partnered with Auckland Transport (AT) to showcase some of the latest in IoT (Internet of Things) technology and demonstrate what the future could look like for Auckland’s CBD with the power of 5G. 5G is ... More>>

Stats NZ: Monthly Migration Remains Low

Since the border closed in late-March 2020, net migration has averaged about 300 a month, Stats NZ said today. In the five months from April to August 2020, overall net migration was provisionally estimated at 1,700. This was made up of a net gain ... More>>

University of Canterbury: Proglacial Lakes Are Accelerating Glacier Ice Loss

Lake Tasman, New Zealand | 2016 | Photo: Dr Jenna Sutherland Meltwater lakes that form at glacier margins cause ice to recede much further and faster compared to glaciers that terminate on land, according to a new study. But the effects of these glacial ... More>>

ALSO:

Dairy: Fonterra Sells China Farms

Fonterra has agreed to sell its China farms for a total of $555 million (RMB 2.5 billion*1), after successfully developing the farms alongside local partners. Inner Mongolia Natural Dairy Co., Ltd, a subsidiary of China Youran Dairy Group Limited ... More>>

ALSO:

RetailNZ: Retail Sales And Confidence Rebound After Second Lockdown Lifts

A new Retail NZ Retail Radar report show retailer sales have improved in through September as the second wave of COVID-19 restrictions lifted. Sales were up 20 per cent and 45 per cent of retailers said that their sales improved on the same time ... More>>