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


HiFX morning Update, February 25 2019

The NZDUSD opens at 0.6841 (mid-rate) this morning.

Risk appetite increased late on Friday after US Treasury Secretary Steve Mnuchin announced that Chinese negotiators would extend their visit to Washington in an effort to secure a deal ahead of this week’s tariff increase deadline.

President Trump during a meeting with Chinese Vice Premier Liu stated that US and Chinese officials are making "a lot of progress" and that there was a "very good chance" the US and China could reach a long-term trade deal.

The Brexit saga continues with UK Prime Minister Theresa May delaying Wednesday’s parliamentary vote on her proposed Brexit deal as she attempts to renegotiate terms with Brussels. May has now rescheduled the so-called meaningful vote for some time before the 12th March with the UK needing a deal in place before the March 29th deadline. The proposed amendment to extend the Article 50 process vote tabled by Labour MP Yvette Cooper is still scheduled for later this week.

Key domestic drivers for the NZD this week will be this morning’s quarterly retail sales report along with Thursday’s ANZ business confidence data release. NZ’s Q4 retail sales are expected to increase by 0.5% following on from Q3’s flat result, core retail sales which exclude autos are expected to increase by 0.8%.

Global equity market closed out the week higher, - Dow +0.70%, S&P 500 +0.64%, FTSE +0.16%, DAX +0.30%, CAC +0.38%, Nikkei -0.18%, Shanghai +1.91%.

Gold prices were little changed on Friday, closing out the week at $1,327 an ounce. WTI Crude Oil prices pushed higher on Friday rising 1.6% closing at $57.75 a barrel


© Scoop Media

Business Headlines | Sci-Tech Headlines


Greenpeace: Calls Foul On INEOS Rugby Sponsorship Deal

Greenpeace is calling foul on NZ Rugby’s decision to sign a sponsorship deal with the oil and plastic polluting petrochemical giant INEOS. "In the thick of the climate crisis, it’s gutting to see NZ Rugby sign a sponsorship deal with an oil and gas polluting conglomerate... More>>

Stats NZ: Quarterly Inflation Rising Steadily Across The Board

Higher prices for transport and food have driven up inflation for the all households group in the June 2021 quarter, Stats NZ said today. The ‘all households group’ represents all private New Zealand-resident households... More>>

Stats NZ: Primary Products Push Exports To A New High

New Zealand exports reached a new high in June 2021, off the back of record export values for logs and beef, Stats NZ said today. In June 2021, the value of all goods exports rose... More>>

Real Estate: June Home Transfers Remain High
There were 44,517 home transfers in the June 2021 quarter, the highest June quarter figure since 2016, Stats NZ said today. The number of home transfers was very similar to the March 2021 quarter and was up 18,252 from the June 2020 quarter... More>>

Statistics: Household Saving Falls In The March 2021 Quarter

Saving by New Zealanders in the March 2021 quarter fell to its lowest level in two years after rising sharply in 2020, Stats NZ said today. Increases in household spending outpaced income growth, leading to a decline in household saving from the elevated levels that prevailed throughout 2020... More>>