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

 

XE Morning Update - August 19, 2019

NZDUSD 0.6425 -0.3%
NZDEUR 0.5795 -0.1%
NZDGBP 0.5292 -0.5%
NZDJPY 68.45 0.1%
NZDAUD 0.9485 -0.3%
NZDCAD 0.8525 -0.7%
GBPNZD 1.8896 0.5%


The NZDUSD opens at 0.6425 (mid-rate) this morning.


The NZD closed out the week under pressure after the July manufacturing PMI showed the sector is now contracting. The data release revealed the business manufacturing PMI now sits at 48.2 (a reading above 50 indicates expansion) and is the first time the sector has contracted since August 2012.

Friday’s US economic data releases were on the soft-side with the University of Michigan's preliminary consumer sentiment report showing a significant decline in confidence and housing starts plummeting by 4% to an annual rate of 1.191m from the revised June estimate of 1.241m. On a more positive note building permits increased much more than expected, jumping 8.4% in July (exp +4.1%).

Expectations that Central Banks will increase stimulus in an effort to avert a global recession, has seen global equity markets finish the week on a positive note while at the same time adding further downward pressure on treasuries.

Monetary policy minutes from both the RBA and the FOMC along with Euro-zone PMI’s look to be the pick of the international data releases over the course of the week, while local interest will concentrated on Friday’s quarterly retail sales report.

Global equity markets had a positive close on Friday, - Dow +1.20%, S&P 500 +1.44%, FTSE +0.71%, DAX +1.31%, CAC +1.22%, Nikkei +0.06%, Shanghai +0.29%.

Gold prices edged down 1.2% on Friday closing out the week at $1,513 an ounce. WTI Crude Oil prices were little changed on Friday, closing out the week at $54.81 a barrel.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

NIWA: Scientists Say Methane Emitted By Humans ‘vastly Underestimated’

NIWA researchers have helped unlock information trapped in ancient air samples from Greenland and Antarctica that shows the amount of methane humans are emitting into the atmosphere from fossil fuels has been vastly underestimated... More>>

ALSO:

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:



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: