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

 

XE Morning Update - June 28, 2019

NZDUSD 0.6698 0.3%
NZDEUR 0.5891 0.3%
NZDGBP 0.5287 0.5%
NZDJPY 72.21 0.4%
NZDAUD 0.9560 0.0%
NZDCAD 0.8777 0.2%
GBPNZD 1.8914 -0.5%

NZD/USD opens higher at 0.6698 today.

Financial markets are keenly awaiting this weekend’s G20 meeting being held in Japan. The big question is will the USA and China be able to reach some sort of deal on trade? Pre-meeting indications are that a truce will be declared which might pave the way for a deal to be agreed over coming months. The ongoing trade war has weighed on global growth and if it continues threatens to tip the global economy into recession.

US President Donald Trump and Chinese Premier Xi are scheduled to meet on Saturday afternoon NZ time so we should know the outcome when trading resumes on Monday morning.

In the markets the NZ Dollar is again firmer, shrugging off yesterday’s weak business confidence readings. The NZD has been in strong demand this week as money continues to flow out of Asia as Asian countries try and keep their own currencies weak.

The Aussie Dollar has also had a boost on hopes of a trade deal and is now nearly 2 cents higher than its recent lows.

Looking at the data calendar today we have NZ Consumer confidence. Tonight we get an update on the USA's latest inflation data which will influence whether the US Federal Reserve cut interest rates at their next meeting at the end of July.

Global equity markets were mixed on the day - Dow -0.1%, S&P 500 +0.4%, FTSE -0.2%, DAX +0.2%, CAC -0.1%, Nikkei +1.2%, Shanghai +0.7%.

Gold prices dropped 0.1% to USD$1,409. WTI Crude Oil prices rose 0.2% to US$59.236 per barrel.

Have a nice weekend.

Upcoming Data releases (NZST):
No local data today
G-20 Meeting begin this afternoon

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Consumer NZ Testing: Nine Sunscreen Brands Fail Protection Tests

Nine different brands fell short in the latest round of testing by Consumer NZ, which covered 20 products. More>>

ALSO:

Media: NZME 'In Discussions' To Buy Stuff

NZME confirms that it is in discussions with Stuff’s owners Nine and has put a proposal to the Government regarding a possible transaction. However, NZME notes that these discussions are preliminary... More>>

Consultation: Plan Of Action To Protect Seabirds

The draft National Plan of Action plan outlines the Government’s commitment to reducing fishing-related captures of seabirds, with clear goals and objectives, supported by an implementation plan. More>>

ALSO:

Housing Issues: Fairer Rules For Tenants And Landlords

The key changes include: - Limit rent increases to once every 12 months and banning the solicitation of rental bids by landlords. - Improve tenant’s security by removing a landlord’s right to use no cause terminations to end a periodic tenancy agreement... More>>

ALSO: