Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

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

 

XE Morning Update November 15, 2019


NZDUSD 0.6370 -0.7%
NZDEUR 0.5783 -0.7%
NZDGBP 0.4947 -1.0%
NZDJPY 69.04 -1.0%
NZDAUD 0.9394 0.1%
NZDCAD 0.8447 -0.6%
GBPNZD 2.0210 0.9%



The wave of optimism for the Kiwi has retreated under the tide of global growth concerns. The AUD lead the drop, with poor employment figures seeing a sharp selloff. The Australian unemployment rate edged up to 5.3%. This is still in line with the RBA’s expectations of around 5 and a quarter percent, but that was a week ago, and the market has a short memory. To be fair this drop was compounded by Chinese Industrial production coming in at 4.7%, missing expectations by almost 1%. With Australia exporting so much to China, it is super sensitive to any slowdown.

Out of Europe we had Germany avoid a “Recession” by the skin of its teeth. A recession is technically classed as 2 quarters in a row of negative GDP growth. Last quarter was negative, so this quarters positive 0.1% growth narrowly staved one off. With so much of global finance based on confidence, having Germany in “Recession” could really have done significant damage. This lack of meaningful growth in general though is getting the ECB to really hammer the point that they have done their job with monetary stimulus, and now it is Governments turn to increase growth by using fiscal stimulus. Seems slightly ironic after preaching 10 years of austerity, but there you go.

The Pound is having a good day on reports that Nigel Farage’s Brexit party will contest every Labour seat. This is seen as GBP positive, as if the Brexit party takes seats from Labour, that can only help Boris get a better majority in Parliament, and therefore have not only the mandate, but also the ability to vote the Brexit deal through. Still a lot of water to go under that bridge though…

Global equity markets have come off a touch, - Dow -0.10%, S&P 500 -0.05%, FTSE -0.80%, DAX -0.38%, CAC -0.10%, Nikkei -0.76%, Shanghai +0.16%

Gold prices are up 0.8% to 1,472 an ounce. WTI Crude Oil prices have dropped slightly, down 0.6% to $57.0. a barrel.

ends

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
GenPro: General Practices Begin Issuing Clause 14 Notices

GenPro has been copied into a rising number of Clause 14 notices issued since the NZNO lodged its Primary Practice Pay Equity Claim against General Practice employers in December 2023.More

SPADA: Screen Industry Unites For Streaming Platform Regulation & Intellectual Property Protections

In an unprecedented international collaboration, representatives of screen producing organisations from around the world have released a joint statement.More

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.