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 0.6407 (mid-rate) this morning.

Currency markets have consolidated as investors look towards the end of the week, Jackson Hole central bankers meeting for guidance.

Federal Reserve Chairman Jerome Powell who is scheduled to speak at the event in the early hours of Saturday morning (our time) is expected to all but confirm a September rate cut, with the only question being how aggressive a rate cut the Fed are likely to deliver.

President Trump has again put pressure on the Fed to cut rates aggressively , Trump said the US economy is “very strong” despite the “ horrendous lack of vision” by Powell and the Fed, and went on to tweet, “ The Fed Rate, over a fairly short period of time, should be reduced by at least 100 basis points, with perhaps some quantitative easing as well.”

Global equity markets have had a strong start to the week benefiting from optimism about new global stimulus and the news that Trump's administration is once again delaying restrictions on Chinese tech giant Huawei. Huawei’s temporary general license which was due to expire on Monday 26th Aug has now been extended for a further 90 days.

Overnight the latest global dairy trade auction is expected to show another dip dairy prices following a 2.5% fall in the index a fortnight ago. The NZDAUD cross rate will be dictated by this afternoons RBA monetary policy minutes due for release at 13:30.

Global equity markets have a solid start to the week, - Dow +1.03%, S&P 500 +1.30%, FTSE +1.02%, DAX +1.32%, CAC +1.34%, Nikkei +0.71%, Shanghai +2.10%.

Gold prices are marginally down 1.1% trading at $1,497 an ounce. WTI Crude Oil prices have pushed higher, up 2.1% trading at $55.96 a barrel.

© 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>>


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>>


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>>


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>>


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>>