Scoop has an Ethical Paywall
HiFX morning Update, August 15 2018
The NZDUSD opens at 0.6774 (mid-rate) this morning.
Another quiet night with the NZD more than holding its own against the majority of its rivals as risk appetite increased.
Concerns about the financial crisis in Turkey have eased with the Turkish lira recovering from a record low after Turkey's central bank pledged to provide liquidity and cut reserve requirements for banks.
Overnight Germany's economic growth exceeded forecasts for Q2 with the Destatis report showing the economy expanded by 0.5% sequentially, following the 0.4% increase in Q1. Economists had expected the growth rate to remain at 0.4%. On an annual basis GDP growth sits at 2.3%. Germany’s consumer price inflation came in as expected for the month of July. The report showed inflation moderated to a 3-month low of 2.0% following on from June’s 2.1% reading.
A mixed employment report out of the UK saw the GBP slip lower. Although the unemployment rate unexpectedly fell to 4.0% down from 4.2% in the 3-months to June investors focused on the lack of wage growth which slowed to a 9-month low of 2.4% for the same period.
Today the NZDAUD cross rate will dictated by Australia’s wage price index data release, due to hit the tapes at 13:30, while overnight tonight investors will look to the US retail sales report for guidance.
Global equity markets are mixed, - Dow +0.52%, S&P 500 +0.64%, FTSE -0.40%, DAX 0.00%, CAC -0.16%, Nikkei +2.28%, Shanghai -0.18%.
Gold prices are unchanged, trading at $1,193 an ounce WTI Crude Oil prices have are up 1.0% trading at $66.59 a barrel.
ends
HiFX
International Payments Expertly Done
HiFX is one of the largest foreign exchange and international payment specialists in the world, managing over $30 billion on behalf of over 100,000 clients worldwide every year.
Large enough to undertake the biggest transactions, yet small enough to care about each and every one – send and receive overseas payments and manage your account anytime, anywhere. HiFX gives you the flexibility you need to transfer money quickly and easily via a secure online platform 24 hours a day, seven days a week - making moving money as easy as 1,2,3.
HiFX Ltd ABN 54 106 779 953/ AFSL No 240914
John Mazenier: Gaffer Tape And Glue Delivering New Zealand’s Mission Critical Services
Earthquake Commission: Ivan Skinner Award Winner Inspired By Real-life Earthquake Experience
Reserve Bank: Consultation Opens On A Digital Currency For New Zealand
NIWA: Ship Anchors May Cause Extensive And Long-lasting Damage To The Seafloor, According To New Research
New Zealand Customs Service: A Step Forward For Simpler Trade Between New Zealand And Singapore
Horizon Research: 68% Say Make Banks Offer Fraud Protection
