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

 

HiFX morning Update, November 21, 2018

The NZDUSD opens at 0.6801 (mid-rate) this morning.

Global growth concerns are weighing heavily on equity markets with US averages extending yesterday’s sharp sell-off as investors react to the latest batch of disappointing earnings reports.

As a result of the equity market sell-off along with concerns about rising global supplies crude oil prices continue to tumble with WTI Crude at one point overnight down 7% to $53.24 a barrel. WTI is now down close to 30% from last month’s four-year high of $76.90.

This morning’s Global Dairy Trade auction has seen prices continue their fall with the overall index down 3.5%. A total of 42,966MT of product were sold at this morning’s auction with the whole milk powder and the skimmed milk powder indexes falling 1.8% and 1.65 respectively.

Overnight the US Commerce Department reported housing starts increased by 1.5% to an annual rate of 1.228 mil in October after plunging by 5.5% to a downwardly revised rate of 1.210 mil in September. The result was marginally ahead of economists’ forecasts.

Global equity markets have fallen sharply, - Dow -1.53%, S&P 500 -1.10%, FTSE -0.76%, DAX -1.58, CAC -1.21%, Nikkei -1.09%, Shanghai -2.13%.

Gold prices are little changed trading at $1,222 an ounce. WTI Crude Oil prices have plunged lower down a further 5.7% trading at $53.24 a barrel.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Stats NZ: Largest Drop In Terms Of Trade In A Decade As Dairy Export Prices Sour

Lower export prices for dairy, meat, and logs in the September 2020 quarter led to the biggest drop in terms of trade since June 2009, Stats NZ said today. Export prices fell in the September 2020 quarter, down 8.3 percent from its highest ever ... More>>

ALSO:

Stats NZ: Election Boosts October Job Numbers

Job numbers were boosted by general election staff in October 2020, along with rises in the manufacturing, retail, and hospitality industries, Stats NZ said today. Filled jobs rose by 27,667 to 2.2 million in October 2020 compared with September, after ... More>>

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:


Media: Discovery, Inc. Completes Acquisition Of New Zealand’s Mediaworks TV Ltd

Auckland, New Zealand, December 1, 2020 - Discovery, Inc. (“Discovery”), the global leader in real-life entertainment, has completed its acquisition of New Zealand’s leading independent free-to-air commercial broadcaster, MediaWorks TV Ltd, now operating ... More>>

Department Of Conservation: Big Year Underway At Albatross Colony

Familiar faces are returning for the new season of Royal Cam, with a big breeding year underway for the toroa/northern royal albatross colony on Otago’s windswept Pukekura/Taiaroa Head. More than 120 albatrosses, a taonga species, have returned ... More>>

Real Estate: ASB Survey Reveals Majority Of Kiwis Expect House Prices To Keep Climbing

ALSO:

House price expectations are soaring as New Zealand’s housing market shifts up a gear. But stretched affordability is putting a dent in perceptions of whether it’s a good time to buy. While Kiwis reveal they do expect interest rates to fall further. ... 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: