INDEPENDENT NEWS

XE Morning Update

Published: Wed 11 Sep 2019 08:18 AM
The NZDUSD opens at 0.6418 (mid-rate) this morning.
Markets are largely subdued as investors looking ahead to Thursday’s ECB policy meeting for direction.
Yesterday afternoon China’s consumer price index and producer price index data releases for August cancelled each other out with CPI rising 2.8% y/y, marginally ahead of the forecast 2.7% increase while PPI dipped by 0.8% y/y following a 0.3% fall in July. The index was forecast to drop 0.9%.
In the face of ongoing uncertainty around Brexit employment data in the UK remains strong. Late yesterday the Office for National Statistics reported in the three months to July the UK employment rate posted another record high with the data showing employment increased by 31k jobs to 76.1%. Unemployment during the quarter remained at 3.8%, while average earnings including bonus increased 4% and earnings excluding bonuses rose by 3.8%. Both results were ahead of expectations.
With little in the way of economic data releases ahead of Thursday night’s ECB policy statement markets are expected to trade tight ranges.
Global equity markets remain mixed, - Dow -0.18%, S 500 -0.44%, FTSE +0.44%, DAX +0.35%, CAC +0.08%, Nikkei +0.35%, Shanghai -0.12%.
Gold prices continue to slide down 0.8% trading at $1,490 an ounce. WTI Crude Oil prices are edging lower down 0.5% to $57.39 a barrel.

Next in Business, Science, and Tech

RBNZ To Implement $30bn Large Scale Asset Purchase Programme Of NZ Govt Bonds
By: The Reserve Bank of New Zealand
Monetary Policy With Very Low Interest Rates
By: The Reserve Bank of New Zealand
More Snow On Glaciers But No Good News, Say Scientists
By: NIWA
Elevate NZ Venture Fund To Lift Productivity
By: New Zealand Government
New Legislation To Boost Organics
By: New Zealand Government
Misinformation Circulating On Biodiversity Policy
By: Forest And Bird
Govt Backs RBNZ Move To Support Economy With Lower Interest Rates
By: New Zealand Government
Reserve Bank announces further measures to support economy
By: RNZ
Holding Off The COVID-19 Recession – Expert Reaction
By: Science Media Centre
Banking Sector Prepared For Responding To COVID-19
By: The Reserve Bank of New Zealand
Reserve Bank’s ‘unconventional Tools’ Are Conventional Elsewhere
By: Social Credit
RBNZ Survey: Experts Say An Out-of-cycle Rate Cut May Cause Panic
By: Finder
Next Steps Of Govt And Business COVID-19 Response
By: New Zealand Government
NZX falls following US interest rate cut
By: RNZ
Coronavirus and the economy: Responding to Covid-19 with precision
By: RNZ
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media