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


XE Morning Update January 20, 2019

The NZDUSD opens at 0.6611 (mid-rate) this morning.

Friday’s stronger-than-expected Chinese and US economic data releases increased risk appetite and pushed up European and US to new highs.

China’s industrial production, which had been expected to pull back from 6.2% in November to 5.9% in December surprised economists by spiking up 6.9%. Retail sales were also ahead of expectations up 8.0% on an annual basis.

The US Commerce Department reported housing starts surged 16.9% in December following on from a healthy 2.6% increase in December. The result was well ahead of the expected 0.7% increase

The odds that the Bank of England will cut rates at this month’s policy meeting increased after data from the Office for National Statistics showed retail sales fell for the fifth consecutive month in December. The report showed sales were down 0.6% following on from a 0.8% fall in November. The BoE are due to release their latest monetary policy statement on Jan 31st.

The key local driver for the NZD this week will be Friday’s quarterly inflation report with expectations of a 0.4% rise in core price inflation.

Global equity markets had a positive close on Friday, - Dow +0.17%, S&P 500 +0.39%, FTSE +0.85%, DAX +0.72%, CAC +1.02%, Nikkei +0.45%, Shanghai +0.05%.

Gold prices were little changed on Friday closing out the week at $1,475 an ounce. WTI Crude Oil prices pushed sideways on Friday, closing out the week at $58.58 a barrel.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Reserve Bank: RBNZ To Implement $30bn Large Scale Asset Purchase Programme Of NZ Govt Bonds

The Monetary Policy Committee (MPC) has decided to implement a Large Scale Asset Purchase programme (LSAP) of New Zealand government bonds. The negative economic implications of the coronavirus outbreak have continued to intensify. The Committee ... More>>


Elevate NZ: Venture Fund To Lift Productivity

The Government’s new $300 million venture capital fund - announced in last year’s Budget – is now open for business as the Elevate NZ Venture Fund. Finance Minister Grant Robertson says lifting New Zealand's productivity requires well-functioning ... More>>


COVID-19: Case Confirmed In NZ – Expert Reaction

After spreading across the globe for months, the first case of COVID-19 has been reported in New Zealand. The Ministry of Health says the risk of a community outbreak is low, due to their preparedness and the high awareness of the disease. The Science ... More>>


Agriculture: New Legislation To Boost Organics

New organics legislation will boost consumer confidence and help grow an innovative sector, says Food Safety Minister Damien O’Connor. “The Organics Product Bill, introduced to Parliament this week, aims to increase consumer confidence when purchasing ... More>>


Biodiversity Policy: Misinformation Circulating

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>>