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

 

The NZD opens down at 0.6820


NZDUSD 0.6820 -0.5%
NZDEUR 0.6034 -0.2%
NZDGBP 0.5158 -0.3%
NZDJPY 76.18 0.1%
NZDAUD 0.9655 -0.1%
NZDCAD 0.9089 -0.3%
GBPNZD 1.9383 0.3%


Big news this morning was the vote out of the UK to kick the Brexit can down the road from March the 29th the road to June 30th. This was passed by 412 votes to 202, so quite comfortable. This still needs to be ratified by the EU, and agreed upon by all 27 member states. They have said that they want some chance of meaningful change before accepting the extension. The worry is if it is extended beyond June, then it could well be a few more years, for both UK and EU elections before any Brexit. I am not sure who has the desire for that, but it is almost appearing as the path of least resistance.


The Kiwi has been pretty quiet of late, ranging only about 2.5% in the past 8 weeks. Be careful not to get complacent though, as what often happens after periods of consolidation, is that when the currency finally moves, it can move quite sharply.

Press conference out of Japan later today rounds off the week, before a slew of data next week. Thursday is shaping up to be a very big day, with major data and announcements out from NZ, Australia, the UK and the States.

Global equity markets were pretty flat on the day Dow +0.13%, S&P 500 -0.12%, FTSE +0.37%, DAX +0.13%, CAC +0.82%, Nikkei -0.02%, Shanghai -1.2%.

Gold prices are off, down 1.1% to USD$1,296 an ounce. WTI Crude Oil prices are flat, up 0.1% to US$58.53 per barrel.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Maritime Union: Deepening Supply Chain Crisis Requires Action

Maritime Union of New Zealand National Secretary Craig Harrison says the global COVID-19 pandemic exposed pre-existing weaknesses in our logistics sector, and created enormous problems... More>>



Air New Zealand: Employees Recognised With $1,000 Share Award

The efforts Air New Zealand employees made during one of the airline’s toughest years will be recognised via an award of $1,000 worth of company shares to all permanent employees... More>>

Consumer NZ: Bank Complaints On The Rise, Survey Shows

Nearly one in five Kiwis had a problem with their bank in the past year, Consumer NZ’s latest satisfaction survey finds. Consumer NZ chief executive Jon Duffy said the number of bank customers reporting problems had jumped to 18%, up from 11% in 2020... More>>

Mercury: Enters Into Binding Agreements To Acquire Trustpower’s Retail Business

Mercury NZ Limited (Mercury) has announced that it has entered into binding agreements with Trustpower Limited (Trustpower, NZX:TPW) to acquire Trustpower’s retail business for NZ$441 million... More>>

ALSO:


ASB: New Zealanders Missing Out On Hundreds Of Millions In KiwiSaver Government Contributions

New Zealanders have just over a week to ensure they’re eligible for the maximum annual government KiwiSaver contribution... More>>


Stats NZ: GDP Climbs 1.6 Percent In March 2021 Quarter Following December Dip

Gross domestic product (GDP) rose by 1.6 percent in the March 2021 quarter, following a 1.0 percent fall in the December 2020 quarter, Stats NZ said today. "After an easing of economic activity in the December quarter, we’ve seen broad-based growth in the first quarter of 2021... More>>