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


HiFX Morning Update, October 11, 2017

HiFX Morning Update, October 11, 2017

The NZDUSD opens at 0.7068 (mid-rate) this morning.

Currency markets continue track sideways as the US economic data drought continues. Overnight, tonight the release of the FOMC meeting minutes from the 21st Sept meeting should provide investors with direction.

The EUR strengthened overnight after German exports exceeded economists’ estimates in August. Following on from July’s 0.2% increase in exports, last night’s report showed exports surged a calendar-and-seasonally adjusted 3.1% in August. Imports also rose with a 1.2% increase in August following on from 2.4% growth in July. German trade surplus increased to 21.6B up from July’s 19.3B and well ahead of the forecast 19.8B result.

Manufacturing production along with construction output in the UK for the month of September helped the GBP keep pace with the EUR and outperform its other rivals. Manufacturing output grew 2.8% y/y in August following on from July’s 2.7% gain and surpassed forecasts of a 1.9% increase. Construction output which fell by 1% in July and was expected to remain flat in August, increased by 0.6%.

Following reports that Saudi Arabia would cut its oil exports in November by 560k barrels a day crude oil prices have surged higher currently up circa 3%.

NZ’s Political uncertainty which continues to weigh on the currency looks to continue beyond Thursday after Winston Peters last night announced that his self-imposed deadline was to be extended.

Global equity markets remain mixed - Dow +0.22%, S&P 500 +0.17%, FTSE -0.40%, DAX -0.21%, CAC -0.04%, Nikkei +0.64, Shanghai +0.26%.

Gold prices have edged higher, up 0.7% trading at $1,291 an ounce. WTI Crude Oil prices have surged higher, up 2.6% overnight currently sitting at $50.96 a barrel.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Department Of Conservation: Beech Mast On The Cards After Warm Summer

Climate modelling shows this year’s hot March has increased the chance of beech forest seeding next summer in parts of New Zealand, which could be bad news for native wildlife. The Department of Conservation (DOC) uses data from NIWA’s virtual climate ... More>>

Government: Delivering Lower Card Fees To Business

Commerce and Consumer Affairs Minister David Clark has today announced the Government’s next steps to reduce merchant service fees, that banks charge businesses when customers use a credit or debit card to pay, which is estimated to save New Zealand businesses ... More>>

SEEK NZ Employment Report: April 2021

OVERVIEW OF APRIL 2021: STATE OF THE NATION: April, for the second consecutive month, saw the highest number of jobs ever advertised on Applications per job ad fell 9% month-on-month (m/m). SEEK job ads were up by 12% m/m. SEEK job ads were ... More>>

Geo40: Global Plans To Recover Low-Carbon Lithium At Scale Accelerated By Investment Of Up To $7.5m By Pacific Channel

New Zealand’s leading sustainable, mineral-recovery company, Geo40 Limited has secured up to $7.5m in equity investment from New Zealand deep-tech specialist Venture Capital firm Pacific Channel to fast-track plans to develop its nascent lithium-from-geothermal-fluid ... More>>

Stats: Lower Job Security Linked To Lower Life Satisfaction

People who feel their employment is insecure are more likely than other employed people to rate their overall life satisfaction poorly, Stats NZ said today. New survey data from the March 2021 quarter shows that 26 percent of employed people who thought ... More>>

The Conversation: The Outlook For Coral Reefs Remains Grim Unless We Cut Emissions Fast — New Research

A study of 183 coral reefs worldwide quantified the impacts of ocean warming and acidification on reef growth rates. Even under the lowest emissions scenarios, the future of reefs is not bright. More>>