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 0.6385 (mid-rate) this morning.

What a difference a day makes, with the US-China trade talks apparently back on, the world is in a better place and risk-appetite is on the rise.

Late yesterday President Trump told media at the G-7 summit in Biarritz, France, that Chinese officials had contacted their US counterparts and asked for the resumption of trade negotiations. "China called, last night, our top trade people, and said, 'Let's get back to the table.' So, we'll be getting back to the table. And I think they want to do something," Trump said.

The news has seen US equity markets push higher with both the Dow and the S&P up circa 1.0% while yield on the US 10-yr Treasury is back up at 1.545 having traded as low as 1.44% on Friday night.

On the economic data front this morning’s US durable goods orders spiked up by 2.1% in July following on from a downwardly revised 1.8% increase in June. Orders had been forecast to increase by 1.1% following the previously reported 1.9% rise in June.

Core durable goods, which are more closely monitored by the Fed contracted 0.4% in July with June’s 1.2% rise downwardly revised to 1.0%. the July reading was expected to show core goods orders inching up by 0.2%.

The EUR lost ground overnight after August’s IFO business sentiment survey revealed fresh signs of deteriorating German confidence. According to the latest release the index fell for the fifth consecutive month in August, with the 94.3 reading the lowest level since November 2012.

Global equity are mixed, - Dow +0.85%, S&P 500 +0.85%, FTSE Closed, DAX +0.40%, CAC +0.45%, Nikkei -2.17%, Shanghai -1.17%.

Gold prices are little changed trading at $1,528 an ounce. WTI Crude Oil prices marginally lower, down 1.0% trading at $53.48 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>>

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: