INDEPENDENT NEWS

HiFX Morning Update, May 30 2017

Published: Tue 30 May 2017 09:11 AM
The NZDUSD opens at 0.7060 (mid-rate) this morning.
The Kiwi opens higher against all its major competitors in what was a relatively quiet night in the markets with Bank Holidays in the U.S., China and the U.K
European Central Bank President Mario Draghi spoke overnight. “Euro zone growth may be improving but inflation remains subdued and still requires substantial stimulus” hence tempering expectations for the bank's June 8 policy meeting.
With euro zone growth on its best run since the bloc's crisis a decade ago, pressure from more conservative countries has been mounting on Draghi to start planning an exit from its policy of aggressive bond purchases and sub-zero rates, setting up June as a potentially key meeting.
Still, with wage growth remaining subdued and underlying inflation weak, Draghi argued that the extraordinary monetary policy support was still needed to raise inflation back to the bank's 2 percent target.
Monetary developments in the Euro area were released overnight for April 2017. The annual growth rate of the broad monetary aggregate M3 decreased to 4.9% in April 2017, from 5.3% in March, averaging 5.0% in the three months up to April.
The annual growth rate of the narrower aggregate M1, which includes currency in circulation and overnight deposits, stood at 9.2% in April, compared with 9.1% in March.
The annual growth rate of Private Loans (adjusted loans to households) stood at 2.4% in April, unchanged from the previous month. The annual growth rate of adjusted loans to non-financial corporations stood at 2.4% in April, compared with 2.3% in March.
Global equity markets are closed in the US, UK, Germany, France, Hong Kong, China, - last readings Dow -0.01 S 500 +0.03%, FTSE +0.40%, DAX +0.21%, CAC -0.08%, Nikkei -0.02% Shanghai +0.07%.
Gold prices are up $2 or 0.2% trading at $1,266 an ounce .WTI Crude Oil prices are up 0.4% to be trading at $50.00 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
Contact HiFX
Facebook:
Linkedin:
https://www.linkedin.com/company/hifx-new-zealand

Next in Business, Science, and Tech

Global Screen Industry Unites For Streaming Platform Regulation And Intellectual Property Protections
By: SPADA
General Practices Begin Issuing Clause 14 Notices In Relation To The NZNO Primary Practice Pay Equity Claim
By: Genpro
View as: DESKTOP | MOBILE © Scoop Media