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

 

XE Morning Update - September 10, 2019

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

The British Pound is the best performing of the G10 currencies, pushing higher on the back of stronger than forecast GDP data and increased optimism the UK will not leave the EU without a deal.

Data from the UK Office for National Statistics revealed gross domestic product expanded 0.3% in July following on from a flat result in June. The result was largely driven by a rebound in services and construction which increased by 0.3% and 0.5% respectively. Economists had expected GDP to inch up by 0.1%.

Earlier this morning Boris Johnson's government suffered another Commons defeat and will be forced to publish its no-deal planning documents. The emergency motion - passed by 311 to 302 votes means Mr Johnson has to surrender the documents by Wednesday.

Yield on the US ten-year note rose sharply this morning, climbing 7.2 basis points to 1.622%, the move higher followed gains in the European bond market as investors positioned their books for less-aggressive action from action from the ECB on Thursday. Overnight data showed Germany's exports unexpectedly increased in July, while imports decreased from June’s reading. Exports increased by 0.7% m/m in July reversing a 0.1% fall in June. Imports fell 1.5% in July after rising 0.7% in June.

The main drivers during our trading day will be Australia’s NAB business confidence report along with China’s CPI and PPI data releases.

Global equity markets have had a mixed start to the week, - Dow +0.05%, S&P 500 -0.18%, FTSE -0.64%, DAX +0.28%, CAC -0.27%, Nikkei +0.56%, Shanghai +0.84%.

Gold prices edged down 0.3% overnight currently trading at $1,502 an ounce. WTI Crude Oil prices are pushing higher, up 2.2% to $57.69 a barrel.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Forest And Bird: Misinformation Circulating On Biodiversity Policy

Forest & Bird is concerned at misinformation circulating regarding a policy statement aimed at protecting New Zealand’s unique biodiversity. The National Policy Statement for Indigenous Biodiversity is being consulted on by the ... More>>

ALSO:

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:

NZ First: Launch Of Parliament Petition To Remove Aluminium Dross

This afternoon to a crowd of over 100 people in Mataura -- Mark Patterson, New Zealand First List MP based in Clutha-Southland launched a parliamentary petition regarding the aluminium dross issue in Mataura, Southland. The petition asks that the House ... More>>

ALSO: