The New Zealand dollar rose ahead of the Reserve Bank’s statement on Thursday and after an Australian survey showed improving business conditions even while business confidence fell, giving traders more confidence economic growth across the Tasman won’t collapse. The kiwi rose to 62.76 US cents as at 5pm in Wellington, from 62.67 cents late yesterday. The trade-weighted index was little changed at 68.49 from 68.54 …
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NZ dollar falls as business confidence sinks to 6-year low, US jobs data eyed
The New Zealand dollar fell after figures showed business confidence sank to a six-year low this month, stoking speculation the Reserve Bank will be prepared to make deeper cuts to interest rates to revive an economy showing little sign of accelerating inflation. The kiwi fell to 64.21 US cents as at 5pm, in Wellington, from 64.53 cents at the New York close on …
Read More »NZ dollar gains before Wheeler speech, as stocks rebound, commodities ri
The New Zealand dollar rose ahead of a speech by Reserve Bank governor Graeme Wheeler, on speculation he may soften his language about an easing bias, and after stocks rebounded and commodities gained. The kiwi dollar rose to 66.77 US cents as at 8am in Wellington, having earlier gained to as high as 67.08 cents, from 66.61 cents late yesterday. The trade-weighted index rose to …
Read More »Labour gives conditional support for TPP
The Labour Party is giving conditional support for the controversial Trans-Pacific Partnership, with party leader Andrew Little saying Labour is “pro-free trade” but will only support TPP if it contains “key protections” for New Zealanders. “Labour supports free trade,” he said. “However, we will not support a TPP agreement that undermines New Zealand’s sovereignty.” The Labour caucus had agreed five ‘bottom line’ …
Read More »RBNZ’s Wheeler cuts OCR to 3% and flags more to come, says kiwi needs to keep falling
Reserve Bank governor Graeme Wheeler cut the official cash rate a quarter-point to 3 percent and flagged more reductions are likely, while saying a lower kiwi dollar is needed to prop up the nation’s export sector. The New Zealand dollar jumped higher. “A reduction in the OCR is warranted by the softening in the economic outlook and low inflation,” Wheeler said in …
Read More »NZ dollar falls on commodity weakness ahead of expected RBNZ rate cut
The New Zealand dollar fell along with other commodity currencies ahead of an expected Reserve Bank interest rate cut this morning. The kiwi dropped to 65.82 US cents at 8am in Wellington, from 66.16 cents at 5pm yesterday. The trade-weighted index declined to 69.99 from 70.20 yesterday. Commodity currencies, including the New Zealand, Australian and Canadian dollars, declined as oil …
Read More »NZ dollar above US66 cents again on profit-taking before interest rate decision
The New Zealand dollar advanced as traders who had bet on the currency’s decline took profits ahead of the Reserve Bank interest rate decision tomorrow. The kiwi rose to 66.32 US cents at 8am in Wellington, from 65.89 cents at 5pm yesterday. The trade-weighted index gained to 70.37 from 70.21 yesterday. The Reserve Bank is expected to cut the official cash …
Read More »NZ dollar heads for 2.4% weekly decline as milk price slump stokes rate cut calls
The New Zealand dollar is heading for a 2.4 percent drop against the greenback this week after a slump in milk powder prices this week fuelled calls for the Reserve Bank to cut interest rates more aggressively to prop up the country’s biggest export sector. The kiwi fell to 65.37 US cents at 5pm in Wellington from 71.29 cents on Friday …
Read More »And so it goes on …. 341 groups from 100+ countries call on WTO Members to Abandon Liberalization Push and Turnaround WTO Agenda
341 global civil society organizations – including development advocates, trade unions, farmers’ organizations, consumer and environmental groups from over 100 countries – sent a letter to WTO members today urging them to abandon the WTO expansion talks and instead focus on an urgent agenda to fix existing damaging rules in the WTO. July 31, 2015 is the date by which …
Read More »Greece Default: The World Reacts – NZ INC’s Best of the Web
Wednesday July 8: After an emergency eurozone leaders’ summit in Brussels, and as the eurozone prepares for a full EU summit on Sunday, there is enormous pressure on the Greek government as the country is on the verge of running out of money. There is also pressure on the other eurozone leaders, with the current situation deemed the most critical …
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