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


HiFX morning Update, January 29 2019

NZDUSD 0.6832
NZDEUR 0.5975
NZDGBP 0.5191
NZDJPY 74.68
NZDAUD 0.9532
NZDCAD 0.9057
GBPNZD 1.9264

The NZDUSD opens at 0.6832 (mid-rate) this morning.

The USD is weakening as we head towards Thursday mornings FOMC statement when the Federal Reserve are widely expected to keep rates on hold.

Global growth concerns, the lack of progress in the ongoing US-China trade war and the paused federal government shutdown are likely to see the Fed chairman Jerome Powell deliver a dovish statement. As announced last year all policy statements will be followed by a post-meeting news conference but there will be no updated rate or economic projections from policymakers.

Global equity markets are back in the red with European and UK markets selling off on Brexit uncertainty and plummeting oil prices while some disappointing earnings reports led by Caterpillar and Trump’s comments that there could be another government shutdown if lawmakers fail to sanction funds for the wall by mid-February have seen US stocks fall sharply.

Overnight, tonight UK MPs are due to vote on a number of amendments to Theresa May’s Brexit plan including an alternative plan to the Irish backstop for avoiding a hard border in Ireland.

The key driver for the NZD during our trading session will be this morning’s trade balance due for release at 10:45.

Global equity markets have turned negative, Dow -1.45%, S&P 500 -1.23%, FTSE -0.91%, DAX -0.63%, CAC -0.76%, Nikkei -0.60%, Shanghai +0.18%.

Gold prices surged to a seven-month high on Friday and are still holding above $1,300 an ounce. WTI Crude Oil prices have fallen sharply overnight, currently down 4.0% trading at $51.88 a barrel.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Reserve Bank: A least regrets approach to uncertainty

The Reserve Bank of New Zealand – Te Pūtea Matua makes decisions about official interest rates in a way that is robust in the face of uncertainty about the economy, Reserve Bank Assistant Governor Christian Hawkesby says in a speech published today*... More>>

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>>

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>>