INDEPENDENT NEWS

HiFX Morning Update – Trump’s Iran move

Published: Wed 9 May 2018 09:20 AM
The NZDUSD opens at 0.6968 (mid-rate) this morning.
This morning President Trump announced the US will withdraw from the Iran nuclear deal forged under the Obama administration and reinstate sanctions on Tehran which were suspended under the 2015 accord.
We will be instituting the highest level of economic sanction," Trump said. "Any nation that helps Iran in its quest for nuclear weapons could also be strongly sanctioned by the United States."
Crude oil prices which plummeted ahead of the announcement took commodity-linked currencies including the NZD, AUD and CAD with it. WTI prices which were down 3% ahead of the announcement are bouncing back as I type, currently down 1.2%.
The USD had earlier received a boost as investors interrupted Fed Chairman Jerome Powell’s speech on monetary policy as dollar positive. Mr Powell said “Fed policy normalization has proceeded without disruption to financial markets, and market participants’ expectations for policy seem reasonably well aligned with policymakers’ expectations.” The market is currently expecting two further rate hikes in 2018 followed by another three hikes in 2019.
The threat of a snap election in Italy after coalition talks between the anti-establishment 5-Star-Movement and the anti-immigrant and anti-European Union League broke down has seen the EUR decline against all its rivals.
Global equity markets are mixed- Dow +0.10%, S 500 -025%, FTSE -0.02%, DAX -0.28%, CAC -0.17%, Nikkei +0.18%, Shanghai +0.79%.
Gold prices are trading back at $1,314 after rising to $1317 as the market awaited Trump's speech. WTI Crude Oil prices which were down 3% ahead of Trump’s speech are bouncing back currently trading at $69.75 a barrel.
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

2018: New Zealand’s equal-2nd warmest year on record
By: NIWA
GDP growth dampens in the September quarter
By: Statistics New Zealand
Coalition Government delivers boost for low income workers
By: New Zealand Government
IKEA to open in New Zealand
By: IKEA
2018 another hot year in NZ - Expert Reaction
By: Science Media Centre
Science Deadline: another hot year, fibre's benefits, 1080
By: Science Media Centre
2018 was NZ's warmest year on record - climate scientist
By: RNZ
Honours recognise work that addresses climate change
By: New Zealand Government
NZ economic growth softer than expected in Sept quarter
By: BusinessDesk
NZ economy slows, growth per person stalls
By: New Zealand National Party
Economic slowdown must prompt change in direction
By: ACT New Zealand
Taxpayers’ Union responds to economic growth slowdown
By: New Zealand Taxpayers' Union
Government outlines planned hikes in minimum wage
By: BusinessDesk
Wage rise welcome for some, worry for others
By: New Zealand National Party
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media