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

 

HiFX morning Update, October 31, 2018


NZDUSD 0.6552 0.4%
NZDEUR 0.5774 0.7%
NZDGBP 0.5158 1.1%
NZDJPY 73.92 0.8%
NZDAUD 0.9228 -0.1%
NZDCAD 0.8607 0.5%
GBPNZD 1.9387 -1.1%

The NZD has extended its recent gains overnight with risk appetite increasing after President Donald Trump announced during a FOX News interview, that he is confident of striking a "great deal" that ends the tariff conflict with China.

The GBP is the weakest of the G10 currencies trading back below 1.27 against the USD and is in danger of breaching its 2018 low of 1.2660. The pound is down 2.4% against the USD in October after Brexit negotiations broke down earlier this month and plans to hold special Brexit summit in Mid-November were cancelled due to a lack of progress.

The EUR came under pressure after Eurostat’s preliminary economic growth report for Q3 showed growth has slowed to 0.2% following on from a 0.4% expansion in the second quarter. Year-on-year growth has slowed to 1.7% down from Q2’s 2.2% expansion. Both results were below forecasts with economists’ expecting a 0.4% quarterly reading with year-on-year expansion of 1.8%. The final reading will be announced on 14th Nov.

According to a report released by the US Conference Board and in contrast to last Friday’s University of Michigan report consumer confidence in the month of October increased with the board’s confidence index rising to 137.9 from a downwardly revised 135.3 in September. The index had been expected to pull back to 136.3 from the 138.4 originally reported for the previous month.

This afternoon investors will look to Australia’s quarterly inflation report along with the BOJ’s monetary policy statement for direction.

Global equity markets remain mixed, - Dow +0.44%, S&P 500 +0.39%, FTSE +0.14%, DAX -0.42%, CAC -0.22%, Nikkei +1.45%, Shanghai +1.02%.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Government: New Year Border Exception For Seasonal Workers In The Horticulture And Wine Industries

2000 additional RSE workers to enter New Zealand early next year employers must pay these workers at least $22.10 an hour employers will cover costs of managed isolation for the RSE workers RSE workers will be paid the equivalent of 30 hours work a week ... More>>

ALSO:

Grey Power: Is Disappointed To Learn Of More Bank Closures

Many older people are being left without essential services because of cost cutting and the march of modern technology. It is now expected that most banking transactions can occur via the internet or telephone. Jan Pentecost, President of the Grey Power ... More>>

ALSO:

Economy: Supply Chain On Brink Of Overload Says National Road Carriers

The New Zealand supply chain is on the brink of overload and it looks like the upcoming peak imports season may push it over the edge says National Road Carriers Association (NRC) CEO David Aitken. “Worldwide supply chains are in disarray,” says Mr Aitken. ... More>>

Stats NZ: Annual Goods Trade Surplus At 28-Year High

New Zealand’s annual goods trade surplus reached a 28-year high of $2.2 billion as imports tumbled in the year ended October 2020, Stats NZ said today. “This is the largest annual surplus since the July 1992 year, driven mainly by much lower ... More>>

ComCom: How Real Is That Bargain?

The Commerce Commission urges retailers and consumers to think hard about the bargains being offered as ‘Black Friday’ and Christmas draw near. Black Friday has now overtaken Boxing Day in terms of retail spending, according to data from electronic ... More>>

Stats NZ: Births And Deaths: Year Ended September 2020

Births and deaths releases provide statistics on the number of births and deaths registered in New Zealand, and selected fertility and mortality rates. Key facts For the year ended September 2020: 57,753 live births and 32,670 deaths ... More>>

ALSO:


Forest & Bird: Kākāpō Wins Bird Of The Year 2020

The nation has voted and Aotearoa New Zealand has a new Bird of the Year. New Zealand’s moss-colored flightless parrot has climbed to the top-spot for the second time in Forest & Bird’s annual Te Manu Rongonui o Te Tau/Bird of the Year competition. ... More>>