HiFX Morning Update, September 7 2016

HiFX Morning Update, September 7 2016

NZDUSD 0.7157 -0.2%
NZDEUR 0.6415 0.3%
NZDGBP 0.5662 0.7%
NZDJPY 74.43 0.2%
NZDAUD 0.9432 0.3%
NZDCAD 0.9453 0.1%

The NZDUSD opens at 0.7157 (mid-rate) this morning.

The NZD is moderately lower, following the AUD after yesterday’s AU Trade balance. In seasonally adjusted terms, the balance on goods and services was a deficit of $2,010m in August 2016, a decrease of $111m (5%) on the deficit in July 2016.

There was an unexpected drop in first-time claims for U.S. unemployment benefits in the week ended October 1st.The report said initial jobless claims fell to 249k, a decrease of 5k from the previous week's unrevised level of 254k. With the unexpected decrease, jobless claims fell to their lowest level since hitting a more than four decade low in mid-April.
German price-adjusted new orders in manufacturing had increased in August 2016 a seasonally and working-day adjusted 1.0% on July 2016.

ECB monetary policy meeting accounts showed sentiment in the financial markets had improved and volatility had declined.

The end of Q3 saw a slight drop in retail sales in the Euro area, meaning that sales have now fallen in three of the past four months. Italy remained the weakest performer of the ‘big-three’, although France saw a renewed downturn and growth slowed in Germany. The headline Markit Eurozone Retail PMI dipped to 49.6 in September, down from August’s ten-month high of 51.0.

Overnight we have Non-Farm Employment Change, Average Hourly Earnings and Unemployment rate for the U.S.

Global equity markets remain mixed - Dow -0.12%, S&P 500 +0.08%, FTSE -0.47%, DAX -0.16%, CAC -0.22%, Nikkei +0.48%, Shanghai +0.21%.

Gold prices are down $19 (1.5%) from yesterday currently trading at $1,249 an ounce, WTI Crude Oil is down 0.8% overnight currently trading at $49.33 a barrel

Upcoming Data releases (NZST):
9:30 - AIG Construction Index

ends

© Scoop Media