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

 

XE Morning Update February 4 2020

NZDUSD 0.6463 0.0%
NZDEUR 0.5842 0.1%
NZDGBP 0.4971 1.4%
NZDJPY 70.22 0.1%
NZDAUD 0.9664 0.1%
NZDCAD 0.8588 0.3%
GBPNZD 2.0117 -1.4%

The NZDUSD opens at 0.6463 (mid-rate) this morning.

The British pound has been the big mover over the past 24-hours selling off amid fears of a hard Brexit after UK Prime Minister Boris Johnson said that he would not accept alignment with key EU rules warning that he was prepared to walk away from talks with the EU, if the UK did not get a free trade agreement. The pound is currently down circa 1.55 against its major trading partners.

As expected after the week long Luna holiday the China's Shanghai Composite index gapped lower on yesterday’s open and remained under pressure throughout the day eventually closing down 7.72%. The move due largely to concerns over the economic impact of the coronavirus was also aided by underwhelming economic data with china’s factory activity expanding at its slowest pace in five months in January, and industrial firms posting their first annual decline in profits in four years in 2019.

Economic data out of the US was mixed with the Commerce Department reporting construction spending unexpectedly dipped lower during December while after five consecutive months of contraction manufacturing activity surprised economists by expanding in January.

This afternoon the RBA are widely expected to keep rates on hold with the market currently pricing in a 15% chance of a 25 basis point cut.

Global equity markets are mixed, - Dow +0.59%, S&P 500 +0.86%, FTSE +0.55%, DAX +0.49%, CAC +0.45%, Nikkei -1.01%, Shanghai -7.72%

Gold prices are marginally lower, down 0.9% trading at $1,575 an ounce. WTI Crude Oil prices continue to slide down 1.8% trading at 50.64 a barrel.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

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:

Research: Climate Change Throws Tree Seeding Out Of Sync – New Study

Climate change is negatively affecting tree reproduction by throwing seed production systems out of synchronisation, according to a new international study co-authored by a University of Canterbury scientist. Many tree species worldwide produce large ... 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:

Science Media Centre: Flooding could release toxic gas – Expert Reaction

A chemical substance known as ouvea premix stored at an old paper mill in Mataura could release toxic ammonia gas if it comes in contact with water.More>>

ALSO: