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


HiFX morning Update, January 15 2019

The NZDUSD opens at 0.6825 (mid-rate) this morning.

Global equity markets and risk-linked currencies have slipped lower overnight with concerns about the global economic outlook following the release of disappointing Chinese trade data the main driver.

Yesterday afternoon China's General Administration of Customs latest trade data report showed exports plummeted 4.4% y/y in December. The news came as a shock to economists who had predicted exports to increase by 3.0% and represents the largest fall in exports in two years. Chinese imports were also unexpectedly negative tumbling by 7.6% in December y/y confounding economists who had forecast imports to increase by 5.0%.

Overnight UK Prime Minister Theresa May attempted to sway voters by pointing out that should lawmakers vote down tomorrows Brexit deal it could cause a "paralysis in parliament that risks there being no Brexit." May went on to state "the only deal on the table is the one MPs will vote on tomorrow night," and that the voters “can take no deal off the table by voting for that deal. If no deal is as bad as you believe it is, it will be the height of recklessness to do anything else." The crucial vote is expected to take place at 08:00am tomorrow morning.

The key driver for the NZD during our trading day will be this morning’s NZIER Business Confidence report due to be released at 10:00am.

Global equity markets are largely negative, Dow -0.37%, S&P 500 -0.48%, FTSE -0.91%, DAX -0.29%, CAC -0.39%, Nikkei +0.97%, Shanghai -0.71%.

Gold prices are little changed trading at $1,290 an ounce. WTI Crude Oil prices have edged lower, down 0.6% trading at $51.62 a barrel.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Shocking Stuff: Lower Income Areas Paying More For Power

Analysis from Consumer NZ and Powerswitch has found major differences in electricity pricing depending on where you live, with those in lower income areas being hit the hardest... More>>

Science Media Centre: Understanding DDoS cyber attacks – Expert Reaction

Cyber attacks have hit several New Zealand organisations this month, disrupting their online services. The Distributed Denial of Service (DDoS) attacks were the same kind of cyber attack that affected the NZX around this time last year... More>>

Financial Markets Authority: Spike in investment scam complaints since COVID

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – is warning New Zealanders to be on the lookout for three unique types of scams that have been on the rise since the start of COVID-19. The warning comes as the FMA responds to a rise in complaints about investment scams and fraud lodged with the regulator in the first half of this year... More>>

Statistics: GDP rises in the June 2021 quarter

Gross domestic product (GDP) rose by 2.8 percent in the June 2021 quarter, following a 1.4 percent increase in the March 2021 quarter, Stats NZ said today. June 2021 quarter GDP was 4.3 percent higher when compared with the December 2019 quarter... More>>

Energy-from-waste: $350 Million Plant To Deliver Renewable Energy Considered

Investigations have begun into the viability of building an Energy-from-Waste plant that will safely convert 350,000 tonnes of waste, that would otherwise be dumped into South Island landfills annually, into renewable electricity... More>>

Olam: Confirms plans for commissioning of NZ dairy plant

OFI, a global leader in natural and sustainable food ingredient solutions, today confirmed plans to develop a new dairy processing facility at Tokoroa. It is now taking expressions of interest from potential farmer suppliers, employees, contractors, and general trade suppliers... More>>