Scoop has an Ethical Paywall
HiFX morning Update, November 14, 2018
NZDUSD 0.6751 0.3%
NZDEUR
0.5992 0.2%
NZDGBP 0.5201 -0.6%
NZDJPY 76.65 0.1%
NZDAUD 0.9371 0.2%
NZDCAD 0.8845 -0.5%
GBPNZD 1.9227 0.7%
The NZDUSD opens at 0.6751 (mid-rate) this morning.
The British pound is the standout performer over the past 24hrs after British and European Union negotiators reached a draft withdrawal agreement, the first step in finalising Britain’s divorce deal from Europe.
UK prime minister Theresa May has summoned ministers to an emergency cabinet meeting scheduled for tomorrow afternoon UK time, and is meeting with every minister for one-to-one talks this morning. Should cabinet sign-off on the agreement the EU is expected to hold a special Brexit summit on the 25th Nov after which the British parliament will then need to ratify the deal with a final vote that would likely take place in mid-December.
At this stage it appears that Italy are refusing to amend draft budget plans that are outside EU fiscal rules. Italy has been given until midnight tonight European time to present a revised budget but its populist government is holding firm with the Italian Deputy Premier Luigi Di Maio saying “the only way to respect European rules is to pass a suicidal budget that would take us into recession.”
Crude oil prices tumbled for the 11th consecutive session and are fast approaching multi-month lows after Donald Trump called for lower prices and a refrain from cutting production. Trump was reacting to comments from a Saudi Energy Minister Khalid Al-Falih who said OPEC will cut its oil production by up to 1 million barrels a day from October production levels.
Global equity markets are broadly higher, - Dow +0.23%, S&P 500 +0.64%, FTSE +0.01%, DAX +1.30, CAC +0.85%, Nikkei -2.06%, Shanghai +0.93%.
Gold prices are unchanged trading at $1,203 an ounce. WTI Crude Oil prices have plummeted, down 5.8% trading at $57.52 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
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
NZ Banking Association: Banks Seek Government Support For Anti-Scam Centre
National Road Carriers: Praises NZTA State Highway Investment Proposal Turnaround
Greenpeace: Cameras Reveal Mass Underreporting Of Dolphin, Albatross And Fish Bycatch By Commercial Fishing Industry
