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.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 



Consumer NZ: Buy-now, Pay-later Raking In $10m+ In Late Fees Annually

A Consumer NZ survey has found buy-now, pay-later services are costing shoppers more than $10 million a year in late fees. Close to four out of 10 Kiwi consumers use buy-now, pay-later services, such as Afterpay, Laybuy and Zip... More>>

Westpac: Catherine Mcgrath Appointed New Zealand CEO

Westpac Group CEO Peter King and the Westpac New Zealand Board today announced the appointment of Catherine McGrath as Chief Executive Officer, Westpac New Zealand... More>>


Amazon: AWS To Open Data Centres In New Zealand

Today, Amazon Web Services (AWS), announced plans to open an infrastructure region in Aotearoa New Zealand in 2024. The new AWS Asia Pacific (Auckland) Region will consist of three Availability Zones (AZs) and join the existing 81 Availability Zones across 25 geographic AWS Regions at launch... More>>

ALSO:



Statistics: Surge In Imports Results In Record Monthly Trade Deficit
Imports increased $1.8 billion in August 2021 compared with August 2020, resulting in a record monthly trade deficit of $2.1 billion, Stats NZ said today. Exports were little changed, down $42 million. "This is a larger deficit than normal because of higher values for imports.. More>>

Fonterra: Completes reset, announces annual results and long-term growth plan out to 2030

Fonterra Co-operative Group Limited today announced a strong set of results for the 2021 financial year, reflected in a final Farmgate Milk Price of $7.54, normalised earnings per share of 34 cents and a final dividend of 15 cents... More>>


Statistics: GDP rises in the June 2021 quarter

Gross domestic product (GDP) rose by 2.8 percent in the June 2021 quarter, following a 1.4 percent increase in the March 2021 quarter, Stats NZ said today. June 2021 quarter GDP was 4.3 percent higher when compared with the December 2019 quarter... More>>