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


XE Morning Update November 5, 2019

NZDUSD 0.6402 -0.5%
NZDEUR 0.5748 -0.3%
NZDGBP 0.4969 -0.2%
NZDJPY 69.55 -0.1%
NZDAUD 0.9295 -0.1%
NZDCAD 0.8418 -0.5%
GBPNZD 2.0125 0.2%

The NZDUSD opens at 0.6402 (mid-rate) this morning.

Wall Street posts new record highs with US Commerce Secretary Wilbur Ross’s comments adding to US-China trade talk optimism.

Ross described the phase one agreement as "particularly complicated" but said "we're in good shape, we're making good progress”, and there's no natural reason why it couldn't be signed this month. Ross also said licenses for US firms to sell components to China's Huawei Technologies would be coming "very shortly."

The Dow, Nasdaq and S&P are all up circa 0.5% but have given back some of their gains as we approach the New York close.

The EUR received a welcome boost overnight after Markit data showed the Euro-zone manufacturing sector shrank slightly less than initially forecast in October and investor confidence spiked to its highest level since June, in November.

The investor confidence index for Euro-zone climbed to -4.5 from -16.8 in October, well ahead of forecast a score of -13.8.

The NZD pushed higher yesterday afternoon as investors pared back their expectations of a 25bps rate cut from the RBNZ and next weeks meeting. The market which had been pricing in an 85% chance of a cut in November is now pricing in a 50% chance with Westpac economists now pushing out their cut expectations till February 2020.

This afternoon the RBA are expected to keep their OCR unchanged at 0.75%.

Global equity markets are on the front foot, - Dow +0.52%, S&P 500 +0.49%, FTSE +0.79%, DAX +1.35%, CAC +0.45%, Nikkei Closed, Shanghai +0.58%

Gold prices are marginally higher, up 0.3% trading at $1,509 an ounce. WTI Crude Oil prices are up 1.2%, trading at $56.96 a barrel.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Primary Sector Council Report: Vision To Unite The Primary Sector Launched

Agriculture Minister Damien O’Connor has welcomed the release of a bold new vision for the country’s vital food and fibre sector. More>>


Crown Accounts: Treasury HYEFU Sees Deficit Then Rising Surpluses

An operating balance before gains and losses deficit of $0.9 billion is forecast in the current year, before returning to a small surplus in 2020/21 which then grows to reach $5.9 billion (1.5% of GDP) in 2023/24. More>>


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>>