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


XE Morning Update

The Kiwi opens at 0.6437

No major movement over the weekend, with Coronavirus cases increasing at circa two thousand per day, which seems to be about the neutral spot, neither good nor bad news. The longer the rate only grows at that same amount per day though, the better news it will be, and will quickly fade off the media’s radar. An increase from 10,000 cases to 12,000 is a large 20% move, from 100,000 to 102,000 is only 2%, and by definition implies less contagiousness.

Out of Europe we had GDP data which came in flat at 0%. The EUR has been selling off a bit lately, and lack of growth does not help things. Chinese oil demand dropped by about 3-4 million barrels per day, or circa 30%, so you can imagine their demand for European exports has also dropped. The US has increased tariffs on aircraft, and the UK is sorting out its divorce settlement, which will be sure to drag on and on. So all in all things are looking a little gloomy for the EU.

The US are off for presidents day, with half of the people celebrating it. Highlights for the week ahead include Wednesday mornings Global Dairy Trade auction, and Australia’s Employment data Thursday afternoon.

Global equity markets are mixed, - Dow -0.09%, S&P 500 +0.18%, FTSE -0.58%, DAX -0.01%, CAC -0.39%, Nikkei -0.59%, Shanghai +0.38%

Gold prices are up, trading at $1,583 an ounce. WTI Crude Oil prices are also bouncing, up 1.8% down to at $52.15 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>>