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 0.6297 (mid-rate) this morning.

Typical end of the month choppy trading saw the NZDUSD dip below 0.63 for the first time since 2015, and although the move was retraced into the NY close the NZD has opened back below the mark this morning.

The EUR was the weakest performing of the G10 currencies with the threat of another Italian election alongside disappointing German retail sales and further talk of increased policy stimulus pushing EURUSD down through 1.10 for the first time since May 2017.

Friday’s US economic data releases were mixed with stronger than expected personal spending offset by further deterioration in consumer sentiment.

According to the Commerce Department report personal spending grew by 0.6% in July following a 0.3% rise in June. Economists had expected personal spending to climb by 0.5%.

The University of Michigan reported its consumer sentiment index for August was downwardly revised to 89.8 from the preliminary reading of 92.1. The final reading was sharply down from July’s 98.4 result.

With little in the way of domestic data releases over the coming week the NZD will again be dictated by offshore events.

US equity markets had a positive close to the month, - Dow +0.16%, S&P 500 +0.06%, FTSE +0.32%, DAX +0.85%, CAC +0.56%, Nikkei +1.19%, Shanghai -0.16%.

Gold prices edged down 0.8% on Friday closing out the month at $1,519 an ounce. WTI Crude Oil prices were down 3.1% on Friday, closing out the month at $54.89 a barrel.
5.76 a barrel.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Fuels Rushing In: Govt "Ready To Act" On Petrol Market Report

The Government will now take the Commerce Commission’s recommendations to Cabinet...
• A more transparent wholesale pricing regime • Greater contractual freedoms and fairer terms • Introducing an enforceable industry code of conduct • Improve transparency of premium grade fuel pricing... More>>


Reserve Bank Capital Review Decision: Increased Bank Capital Requirements

Governor Adrian Orr said the decisions to increase capital requirements are about making the banking system safer for all New Zealanders, and will ensure bank owners have a meaningful stake in their businesses. More>>


Aerospace: Christchurch Plan To Be NZ's Testbed

Christchurch aims to be at the centre of New Zealand’s burgeoning aerospace sector by 2025, according to the city’s aerospace strategic plan. More>>


EPA: Spill Sees Abatement Notice Served For Tamarind Taranaki

The notice was issued after a “sheen” on the sea surface was reported to regulators on Thursday 21 November, approximately 400 metres from the FPSO Umuroa. A survey commissioned by Tamarind has subsequently detected damage to the flowline connecting the Umuroa to the Tui 2H well. More>>

Taskforce Report: Changes Recommended For Winter Grazing

A Taskforce has made 11 recommendations to improve animal welfare in intensive winter grazing farm systems, the Minister of Agriculture Damien O’Connor confirmed today. More>>