HIFX Morning Update, November 20 2015

HIFX Morning Update, November 20 2015

NZDUSD 0.6562 1.8%
NZDEUR 0.6116 1.1%
NZDGBP 0.420 1.4%
NZDJPY 80.56 1.2%
NZDAUD 0.9117 0.3%
NZDCAD 0.8720 1.4%

The NZDUSD opens at 0.6562 (mid-rate) this morning.

Reflecting positive contributions from the yield spread, stock prices, and building permits, the Conference Board released a report on Thursday showing that its index of leading U.S. economic indicators rose by 0.6% in October, which was slightly more than expected.

European Central Bank policymakers considered boosting the monetary stimulus in October as it was suggested that the deflation risk remained relevant despite the ongoing slow recovery in the euro area, the minutes of the policy session revealed overnight.

ECB President Mario Draghi had also revealed in October that policymakers also discussed interest rate cuts. The accounts suggested that policymakers are set to review all available tools in December that will help to achieve the ECB's price stability goal of bringing inflation 'below, but close to 2%’.
China's central bank cut borrowing costs further on some loans in its latest effort to underpin the slowing economy that has switched focus to domestic consumption and services than exports.

The People's Bank of China lowered the overnight rate for loans made under the standard lending facility, or SLF, to banks to 2.75% from 4.50% and the seven-day rate to 3.25% from 5.5%.

UK Retail Sales were up 1.9% in September from August, better than the market consensus of -0.4%, and an estimated 6.5% increase from September 2014.

Global equity markets are broadly higher : Dow +0.18%, S&P 500 +0.12%, FTSE +0.81%, DAX +1.14%, CAC +0.17%, Nikkei +1.07%, Shanghai +1.36%.

Gold prices are up $10 at $1078 an ounce, WTI Crude Oil prices are up 0.45% currently trading at $40.30 a barrel.

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