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

 

XE Morning Update November 11, 2019

The NZDUSD opens at 0.6235 (mid-rate) this morning.

Trade talks once again dominated the markets on Friday, with Thursday evening’s optimism quashed by Trump going into Friday’s close.

President Trump told reporters on Friday that he has not agreed to lift the tariffs on China with his advisors adding that the idea of a tariff rollback was not part of the original October "handshake" deal between Trump and Chinese Vice Premier Liu He. US equity markets sold-off following the news but still managed to close out the week at record highs.

Friday’s US economic data releases balanced out with the Commerce Department reporting wholesale inventories fell marginally more than expected in September, while the University of Michigan consumer sentiment index inched up slightly more than forecast in November.

It’s a big week for the NZD with tomorrow’s quarterly inflation expectations report the final piece of the jigsaw before the RBNZ release their latest monetary policy statement on Wednesday afternoon. Currently 80% of a 25 basis point cut is priced in.

Global equity markets closed mixed on Friday, - Dow +0.02%, S&P 500 +0.02%, FTSE -0.63%, DAX -0.46%, CAC -0.02%, Nikkei +0.26%, Shanghai -0.49%.

Gold prices edged lower on Friday closing out the week at $1,458 an ounce. WTI Crude Oil prices were down 0.7% on Friday closing out the week at $57.26 a barrel.

ends

© 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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

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>>

ALSO: