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.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 




Barfoot & Thompson: Auckland Rental Prices Inch Up Again, But Upward Trend Could Ease In Coming Months

Data from nearly 16,000 rental properties managed by real estate agency Barfoot & Thompson shows Auckland’s average weekly rent rose by $6.12 (or 1 percent) during the second quarter... More>>

ComCom: Draft Report Says Regulatory System Favours Established Building Products
The Commerce Commission’s draft report into competition in the residential building supplies industry has identified two main factors negatively impacting competition... More>>

Statistics: Annual Wage Inflation Rises To 3.4 Percent
Wage inflation, measured by the labour cost index (LCI), was 3.4 percent in the year ended June 2022, while average ordinary time hourly earnings rose 6.4 percent, Stats NZ said today... More>>

ALSO:



Heartland: Retirees Facing Pressure From Higher Cost Of Living And Increasing Debt In Retirement

Heartland has seen a significant increase in Reverse Mortgages being used to repay debt. Among the most affected by the increasing living costs are retirees, many of whom are trying to get by on NZ Super alone... More>>


APEC: Region’s Growth To Slow Amid Uncertainties And Crises
Economic growth in the APEC region is expected to slow this year amid soaring inflation, a protracted war in Ukraine and heightened uncertainties, on top of the continuing impact of the pandemic and virus mutations that are draining resources, according to a new report by the APEC Policy Support Unit... More>>


Financial Markets Authority: Survey Sheds Light On New Zealanders’ Experiences With Financial Sector
Most New Zealanders are confident in their ability to make financial decisions, but only one-fifth say they are in a secure financial position... More>>