Scoop has an Ethical Paywall
HiFX morning Update, March 5, 2019
The USD rose to a 10-day high against a basket of
currencies as rising US treasury yields increased demand for
the currency, and on optimism that a trade deal between the
US and China was possible.
A report over the weekend said US president Donald Trump and his Chinese counterpart Xi Jinping could reach a formal agreement at a summit around 27th March, given the progress they have made.
US construction spending fell 0.6% in December, providing further evidence the US economy lost momentum in late 2018.
Despite the above, the NZD managed to outperform across the board.
The AUD suffered yesterday after a slew of underwhelming domestic data, ahead of today’s RBA meeting and Wednesday’s key Q4 GDP release.
There is no data scheduled on the NZ calendar today. The Reserve Bank of Australia has an interest rate decision at 4:30pm today.
Global equity markets were mixed on the day - Dow -1.4%, S&P 500 -1.0%, FTSE +0.4%, DAX -0.1%, CAC +0.4%, Nikkei +1.0%, Shanghai +1.1%.
Gold prices are fell 0.8% to USD$1,285 an ounce, while WTI Crude Oil prices rose 0.3% to US$55.95 per barrel.
ends
NZ On Air: Firm Audience Favourites Lead NZ On Air Non-Fiction Funding
Insurance and Financial Services Ombudsman: Woman Gets $40k More After Disputing Insurer’s Decision
BNZ: A Quarter Of Older NZers Fear Going Online Due To Scam Concerns
University of Auckland: Scientists Develop Tool To Monitor Coastal Erosion In Fine Detail
Oji Fibre Solutions: OjiFS Proposes To Discontinue Paper Production At Kinleith Mill
Hugh Grant: Navigating Digital Adoption In New Zealand - Embracing Change For A Bright Future
