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

 

HiFX morning Update June 13 2018

The NZDUSD opens at 0.7005 (mid-rate) this morning.

Markets lacked direction for much of yesterday as investors awaited the outcome of the Singapore summit. Although both leaders hailed the success of their meeting, describing it as the first step towards a “bright future” and signing an agreement with North Korea agreeing to denuclearise in exchange for security guarantees the lack of detail has created scepticism among many analysts.

This morning’s US inflation data equalled economists’ estimates with consumer prices in the month of May increasing by 0.2%. Core prices which exclude both food and energy prices increased by 0.2% modestly ahead of the forecast 0.1% increase.

German investor confidence disappointed once again with the ZEW economic sentiment index plummeting by 7.9 points to -16.1 points (its lowest level since June 2012). Economists had expected the index to drop to -14 points.

The UK Office for National Statistics employment report showed the unemployment rate remained unchanged at 4.2% its lowest level since 1975.

Tomorrow morning the Federal Reserve are expected to raise their cash rate by 25 basis points with investors focusing on the Fed’s dot-plot for any indications that the Fed may be considering a further two hikes at back end of this year.

Global equity are mixed- Dow -0.22%, S&P 500 +0.05%, FTSE -0.43%, DAX +0.00%, CAC -0.38%, Nikkei +0.33%, Shanghai +0.89%.

Gold prices are inching lower, down 0.3% trading at $1,295 an ounce. WTI Crude Oil prices have edged higher, up 0.2% trading at $66.22 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

 
 
 
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.