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


HiFX morning Update, March 8, 2019

The NZDUSD opens a little lower at 0.6757 (mid-rate) this morning.

The EURUSD sank to a level last since June 2017 after the European Central Bank (ECB) changed tack on its tightening plan and postponed its first post-crisis interest rate hike until 2020 and launched a new rounds of cheap loans to banks.

The ECB move was more aggressive than the market anticipated and underlined how a global trade war, Brexit uncertainty, and continuing Italy debt concerns has weighed on economic growth across the EU.

The ECB, RBA, US Fed, Bank of Canada, have all adopted a more dovish tone towards interest rate hikes recently. Our own RBNZ has not been quite as dovish, although the domestic interest rate markets have priced in 68% probability of a 0.25% rate cut within the next 12 months.

Australian retail sales rose a meagre 0.1% in January, in what is another blow to retailers. Aussie consumer spending has been weighed down by record-high household debt and lethargic wage growth.

There was no front-line data out of the US overnight. However, the closely-watched and influential US non-farm payrolls employment figures hit the wires in the very early hours of tomorrow morning.

Brexit deal malaise continues.

There is no data scheduled on the NZ calendar today.

Global equity markets were mostly lower on the day - Dow -0.8%, S&P 500 -0.8%, FTSE -0.5%, DAX -0.6%, CAC -0.4%, Nikkei -0.7%, Shanghai +0.1%.

Gold prices are flat USD$1,286 an ounce, while WTI Crude Oil prices climbed 0.9% to US$56.59 per 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>>