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


HiFX Morning Update April 1 2019

The NZDUSD opens higher at 0.6829 this morning.

The USD eased Friday night, dragging the NZDUSD higher, on tepid US economic data.

The USD dipped on weaker-than-expected US inflation data, disappointing personal spending and income figures, and weak manufacturing numbers – adding to fears the US economy is looking steam. However, it wasn’t all bad with consumer sentiment and new homes sales data beating forecasts.

Chinese manufacturing data, released Sunday, exceed analysts’ forecasts, with the manufacturing PMI (purchasing managers’ index) posting its biggest increase since 2012. This is a signal the world’s second-largest economy is stabilising and a positive sign for the global economy and commodity exporters such as NZ & Australia and their currencies.

Brexit drama continues unabated and the GBP plunged lower after UK lawmakers rejected Prime Minister Theresa May’s breakup deal for a 3rd time. The Brexit uncertainty is weighing on the GBP and British economy.

RBNZ Governor Adrian Orr welcomed the weaker NZD during a speech on Friday, after he surprised the market earlier in the week by announcing an interest rate easing bias. The next RBNZ OCR meeting is 8th May and where some forecasters are picking rates could be cut by 0.25%.

There is no data on the domestic calendar today. Australian business confidence and Chinese manufacturing figures hit the wires this afternoon.

Global equity markets were higher on the day, with the Shanghai Composite index being the standout performer screaming 3.2% higher - Dow +0.8%, S&P 500 +0.7%, FTSE +0.6%, DAX +0.9%, CAC +1.0%, Nikkei +0.8%, Shanghai +3.2%.

Gold prices were little changed at USD$1,291 an ounce as the USD rallied. WTI Crude Oil prices surged 1.7% to US$60.22 per barrel.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Federated Farmers: Applauds UK-Australia Free Trade Deal

News that Australia and the UK have signed a free trade agreement is a promising step forward in the fight against tariffs and protectionism, Federated Farmers says.
"It reinforces the international rules-based trading framework and is important for rural producers and global consumers," Feds President Andrew Hoggard says... More>>

REINZ May Data: House Price Rises Continue; Auckland Hits New Record Median Price Again

Median prices for residential property across New Zealand increased by 32.3% from $620,000 in May 2020 to $820,000 in May 2021, according to the latest data from the Real Estate Institute of New Zealand (REINZ), source of the most complete and accurate real estate data in New Zealand... More>>

Energy Resources Aotearoa: Doubling Of Coal Use Shows Need For Local Natural Gas

New figures showing a near doubling of coal-fired electricity generation highlight New Zealand’s energy shortage and the need for natural gas as a lower carbon alternative, according to Energy Resources Aotearoa... More>>

Reserve Bank: Debt Serviceability Restrictions Added To Policy Toolkit

The Reserve Bank – Te Pūtea Matua and the Minister of Finance have agreed to update their shared Memorandum of Understanding (MoU) on macro-prudential policy and add debt serviceability restrictions to the list of potential tools available... More>>

Auction: 1.4 Million In Rare Vintage Watches, Gems, Jewels & Diamonds Go Under The Hammer At Webb’s

An auction event showcasing over 1.4 Million dollars in rare jewels, gems, diamonds and vintage watches is due to take place this Sunday by Auckland based auction house Webb’s... More>>

Catalist: NZ’s New SME Stock Exchange, Gets Licence To Go Public

New Zealand has a new stock exchange – designed specifically for small and medium-sized businesses (SMEs) to raise up to $20 million a year from the public.
Called Catalist, the exchange has already been successfully working the private investment sector.... More>>