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


HiFX Morning Update, November 6 2018

HiFX Morning Update, November 6 2018

The NZDUSD opens at 0.6911 (mid-rate) this morning.

Currency markets had a quiet close to the week with investors looking to Friday night’s US economic data releases for direction.

Friday’s economic data releases sent mixed messages to investors with the latest employment report falling short of economists’ forecasts while economic activity in the non-manufacturing sector grew at a faster pace anticipated. US non-farm jobs increased by 261k in October with September’s 33k fall in jobs was revised to an 18k rise. Economists had expected an addition of 312k jobs while September’s result was initially reported as a 33k fall in jobs. A fall in the unemployment rate, down to 4.1% from 4.2% in September was largely due to a 765k fall in people looking for work.

The Institute for Supply Management reported its non-manufacturing index edged up to 60.1 in October after a 59.8 reading in September, The index had been forecast to pull back to 58.6.

Ahead of Thursday’s RBNZ statement, when the Reserve Bank are widely tipped to leave the OCR unchanged at a record low of 1.75%, direction for the NZD will be influenced by this afternoon’s quarterly inflation expectation report.

Global equity markets with the exception of the Shanghai edged higher on Friday - Dow +0.01%, S&P 500 +0.30%, FTSE +0.07%, DAX +0.28%, CAC +0.14%, Nikkei +0.53%, Shanghai -0.34%.

Gold prices fell 0.6% on Friday, closing out the week at $1,269 an ounce, WTI Crude Oil prices surged higher on Friday, up 2.2% closing out the week close to 2yr highs at $55.64 a barrel.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Stats NZ: Consents For New Homes At All-Time High

A record 41,028 new homes have been consented in the year ended March 2021, Stats NZ said today. The previous record for the annual number of new homes consented was 40,025 in the year ended February 1974. “Within 10 years the number of new homes ... More>>

Stats NZ: Unemployment Declines As Underutilisation Rises

The seasonally adjusted unemployment rate decreased to 4.7 percent in the March 2021 quarter, continuing to fall from its recent peak of 5.2 percent in the September 2020 quarter but remaining high compared with recent years, Stats NZ said today. ... More>>


Digitl: The Story Behind Vodafone’s FibreX Court Ruling

Vodafone’s FibreX service was in the news this week. What is the story behind the Fair Trading Act court case? More>>

Reserve Bank: Concerned About New Zealand's Rising House Prices

New Zealand house prices have risen significantly in the past 12 months. This has raised concerns at the Reserve Bank of New Zealand – Te Putea Matua about the risk this poses to financial stability. Central banks responded swiftly to the global ... More>>

Westpac: Announces Strong Financial Result

Westpac New Zealand (Westpac NZ) [i] says a strong half-year financial result has been driven by better than expected economic conditions. Chief Executive David McLean said while the global COVID-19 pandemic was far from over, the financial effect on ... More>>

MYOB: SME Confidence In Economic Performance Still Cautious

New insights from the annual MYOB Business Monitor have shown the SME sector is still cautious about the potential for further economic recovery, with two-in-five (41%) expecting the New Zealand economy to decline this year. The latest research ... More>>