HiFX morning Update, March 14, 2019

Published: Thu 14 Mar 2019 09:07 AM
NZDUSD 0.6854 -0.2%
NZDEUR 0.6048 -0.5%
NZDGBP 0.5173 -1.4%
NZDJPY 76.13 -0.3%
NZDAUD 0.9665 -0.3%
NZDCAD 0.9116 -0.7%
GBPNZD 1.9331 1.4%
The NZD weakened after REINZ house sales plunged 9.5% (year on year) and NZ Food Price Index (FRI) rose a less than anticipate 0.4% in February.
The FPI feeds into CPI data and is further evidence that inflation remains benign.
US Producer Price Index barely rose in February, while headline Durable Goods Orders came in stronger than forecasts, although the ‘core’ number disappointed. This data adds to the view the US Federal Reserve will maintain its ‘patient’ stance on any future interest rate hikes.
The GBP jumped higher after the UK Parliament voted against a ‘no-deal’ exit from the EU – however, the vote was extremely close 312 versus 308! The Brexit circus moves on to Thursday (UK time) where they will vote on whether to support a delay of Brexit in the hope of securing better terms. Even if the UK do agree to kick the can down the road, there is no guarantee the EU will agree to the extension.
Australian consumer sentiment data, released yesterday, slumped to its lowest in over a year in March – adding to signs of economic weakness and boosting calls for a Reserve Bank of Australia rate cut.
There is no data on the domestic calendar today.
Global equity markets were mostly higher on the day - Dow +0.4%, S 500 +0.7%, FTSE +0.1%, DAX +0.4%, CAC +0.7%, Nikkei +1.1%, Shanghai -1.1%.
Gold prices jumped 0.9% to USD$1,311 an ounce. WTI Crude Oil prices surged 2.7% to US$58.45 per barrel as US crude inventories unexpectedly fell, Venezuela’s crude exports stalled, and Saudi Arabia indicated it would cut exports.
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

Next in Business, Science, and Tech

Massive Rebound In Civil Construction Business Confidence
By: Civil Contractors NZ and Teletrac Navman
Feeling Our Way Towards Hydrogen - Tina Schirr
By: Business NZ
Maritime Union Calls For New Zealand Shipping To Resolve Supply Chain Crisis
By: Maritime Union of New Zealand
New Home Consents Continue To Break Records
By: Statistics New Zealand
June Home Transfers Remain High
By: Statistics New Zealand
Household Saving Falls In The March 2021 Quarter
By: Statistics New Zealand
New Data Shows Household Net Worth Increases On The Back Of Rising Asset Values
By: Statistics New Zealand
View as: DESKTOP | MOBILE © Scoop Media