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

 

XE Morning Update

The NZDUSD opens at 0.6765 (mid-rate) this morning.

The USD pushed higher on Friday breaking a 2-day losing streak after a spokesperson for the NY Federal Reserve said the market had taken out of context earlier comments from NY Fed President John Williams.

On Thursday Mr Williams’ had stated that the Fed would have to cut rates in the upcoming monetary policy meeting and that the Central Bank would have to act quickly and forcefully as economic growth was slowing.

The NY Fed spokesperson said Mr Williams speech “was an academic speech on 20 years of research’ and that “It was not about potential policy actions at the upcoming FOMC meeting."

On the economic news front a preliminary report from the University of Michigan showed US consumer sentiment in the month of July has improved slightly but not as much as forecast. The data shows the index has inched up to 98.4 from June’s final reading of 98.2. economists had forecast the index to hit 98.6.

Crude oil prices are set to spike with geopolitical tensions increasing after Iran seized a British oil tanker in the Strait of Hormuz. The UK government are demanding its immediate release and threatening Tehran with “serious consequences,” Iran claim the ship was seized after it crashed into a fishing vessel.

Global equity markets closed mixed on Friday, - Dow -0.25%, S&P 500 -0.61%, FTSE +0.21%, DAX +0.26%, CAC +0.03%, Nikkei +2.0%, Shanghai +0.79%.

Gold prices hit a fresh six year high of $1,454on Friday before retracing the move and closing out the week $1,426 an ounce. WTI Crude Oil prices held steady on Friday, closing at $55.76 a barrel.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

SMC Expert Reaction: Record Dry Spells And Effects On Forests

With no rain forecast before Sunday, Auckland is about to break a record for the city's longest dry spell. Niwa says Auckland is likely to hit 40 consecutive days without rain this weekend . The upper North Island is seeing severe meterological ... More>>

ALSO:

Reserve Bank: Official Cash Rate Remains At 1.0 Percent

The Monetary Policy Committee has decided to keep the Official Cash Rate (OCR) at 1.0 percent. Employment is at or slightly above its maximum sustainable level while consumer price inflation is close to the 2 percent mid-point of our target range. ... More>>

ALSO:

Research: Climate Change Throws Tree Seeding Out Of Sync – New Study

Climate change is negatively affecting tree reproduction by throwing seed production systems out of synchronisation, according to a new international study co-authored by a University of Canterbury scientist. Many tree species worldwide produce large ... More>>

ALSO:


Science Media Centre: Novel Coronavirus Detected In China – Expert Reaction

The virus was detected after more than 40 people were hospitalised with pneumonia in Wuhan City, China and the outbreak traced to a large animal and seafood market. The Centers for Disease Control and Prevention reports that person-to-person transmission ... More>>

ALSO:

Science Media Centre: Flooding could release toxic gas – Expert Reaction

A chemical substance known as ouvea premix stored at an old paper mill in Mataura could release toxic ammonia gas if it comes in contact with water.More>>

ALSO: