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


HiFX Morning Update April 8 2019

The NZDUSD opens at 0.6735 (mid-rate) this morning.

The NZD continued to trade choppy ranges with a downside bias, against all its rivals on Friday with a growing belief that the RBNZ will cut interest rates at its May monetary policy meeting weighing on confidence in the NZD.

The USD strengthened on Friday after the US Labour Department jobs report showed a reacceleration in jobs growth in March.

The report showed non-farm payroll employment jumped by 196k in march with February’s previously reported 20k jobs increase upwardly revised to 33k. Economists had forecast jobs to increase by 180k during the month. As expected unemployment remained at 3.8% but a slowing in wage growth to 3.2% from 3.4% is a concern.

On Friday President Trump again called on the Federal Reserve to cut interest rates and take additional steps to stimulate economic growth and once again criticized the Fed’s interest rate increases over the past 12 months saying “they really slowed us down.” The comments come hot on the heels of Trump’s controversial picks for the board of the federal Reserve. Earlier in the week Trump nominated Trumponomics author Stephen Moore and former Republican presidential candidate and avowed Trump loyalist Herman Cain to serve on the Federal Reserve Board.

Global equity markets continue to benefit from upbeat trade talk headlines with Chinese Vice Premier Liu announcing “new progress” had been made in trade talks with both parties agreeing to resume discussions this week.

Thursday evening’s Euro-zone monetary policy statement along with US inflation data and FOMC meeting minutes will be the main market drivers over the course of the week.

Global equity markets closed out the week broadly higher, - Dow +0.15%, S&P 500 +0.46%, FTSE +0.61%, DAX +0.18%, CAC +0.23%, Nikkei +0.38%, Shanghai +0.94%.

Gold prices were unchanged on Friday closing out the week at $1,291 an ounce. WTI Crude Oil prices increased 1.6% on Friday closing out the week at $63.15 a barrel.


© 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>>


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>>