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HiFX Morning Update, October 13 2016

Published: Thu 13 Oct 2016 08:44 AM
HiFX Morning Update, October 13 2016
NZDUSD 0.7074 0.2%
NZDEUR 0.642 0.5%
NZDGBP 0.5797 -0.4%
NZDJPY 73.75 1.1%
NZDAUD 0.9344 -0.1%
NZDCAD 0.9365 0.2%
The NZDUSD opens at 0.7074 (mid-rate) this morning.
There were no surprises in this morning’s FOMC meeting minutes with the report confirming the decision to keep rates on hold in September was a “close call”. The Fed meet twice more this year, in November and December with most economists expecting the next rate hike to come at the December meeting. Below are the key points from this morning’s minutes.
FOMC minutes show officials in September expected to raise rates 'relatively soon'
FOMC minutes: 'reasonable argument' could be made for increase at September meeting
FOMC minutes highlight divisions fed faces determining timing of next interest-rate increase
FOMC minutes: many officials saw few signs of emerging inflationary pressures
FOMC minutes: some officials concerned rate increase delay could erode fed's credibility
FOMC minutes: substantial majority view risks to economic outlook as roughly balanced
FOMC minutes: some officials continued to see downside risks from abroad
FOMC minutes: staff 'slightly' lowered estimate for potential output growth in medium, long run
Euro-zone industrial production rebounded in August with the latest Eurostat report showing a 1.6% rise in August (exp +1.4%) from July when it fell by a revised 0.7%.
Global equity markets are mixed - Dow +0.19%, S 500 +0.19%, FTSE -0.66%, DAX -0.51%, CAC -0.44%, Nikkei -1.09%, Shanghai -0.22%.
Gold prices are a little changed currently trading at $1,251 an ounce, WTI Crude Oil continues to pull back down another 1.1% overnight but still holding just above $50 currently trading at $50.15 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
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