INDEPENDENT NEWS

HiFX Morning Update, December 5, 2017

Published: Tue 5 Dec 2017 08:25 AM
HiFX Morning Update, December 5, 2017
The NZDUSD opens at 0.6844 (mid-rate) this morning.
The NZD has struggled overnight, losing ground against all its rivals. This afternoon RBNZ acting Governor Grant Spencer is due to give a speech titled ‘low inflation and its implications for monetary policy,’ and is widely expected to reiterate ‘monetary policy will remain accommodative for a considerable period’. Investors will also be very mindful of tonight’s Global Dairy Trade (GDT) auction. The price index has suffered four consecutive falls with the last auction, which was held on Nov 21st, down 3.4% following 3.5%, 1% and 2.4% decreases at the three previous auctions.
Overnight US Commerce department reported factory orders edged lower in October, down 0.1% following September’s 1.7% spike in orders. The fall was not as great as expected, with economists forecasting orders to fall by 0.4%.
The British pound continues to be the most actively traded currency with Brexit negotiations continuing to dominate the headlines. The GBP surged higher overnight on reports that an agreement between Britain and the EU was close before news broke that Northern Ireland’s Democratic Unionist party, which provides the UK prime minister with her majority in parliament, objected to the proposed solution for the Irish border.
Global equity markets remain mixed - Dow +087%, S 500 +0.52%, FTSE +0.53%, DAX +1.53%, CAC +1.36%, Nikkei -0.49%, Shanghai -0.24%.
Gold prices are down 0.7% trading at $1,273 an ounce. WTI Crude Oil prices are down 1%, over the past 24 hours, currently trading at $57.79 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

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