Page 5 - Craig Ebert News Today

The services sector in New Zealand picked up steam in May, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 53.

(RTTNews) - The services sector in New Zealand picked up steam in May, the latest survey from BusinessNZ revealed on Monday with a Performance of ...

Dollar and Japanese Yen saw a modest bounce back in today's Asian session, making up for some of their steep losses from last week. However, the buying momentum for both currencies remains relatively weak. Due to a light economic calendar today, coupled with public holiday in the US, trading could be relatively quiet. But, the rest of the week is likely to bring considerable volatility, with BoE and SNB rate decisions, Fed Chair Jerome Powell's testimony, and a barrage of crucial econo...

The forex markets are holding steady in a consolidative pattern today. Notably, Euro has remained largely unaffected by continued hawkish messages emanating from top ECB officials, who have merely echoed President Christine Lagarde's suggestion that an interest rate hike is likely in July, while situation in September remains uncertain.

The manufacturing sector in New Zealand continued to contract in May, albeit at a slower pace, the latest survey from BusinessNZ revealed on Friday with a manufacturing PMI score of 48.

New Zealand BusinessNZ Performance of Manufacturing Index ticked up from 48.8 to 48.9 in May, staying well below long-term average activity rate of 53.0. Looking at some details, production dropped from 47.0 to 45.7. Employment rose from 47.7 to 49.5. New orders rose from 49.6 to 50.8. Finished stocks dropped from 52.5 to 51.5. Deliveries dropped from 50.7 to 46.0.

Euro's broad based rally continues today as supported by a chorus of hawkish comments from ECB officials. But Sterling is outperforming on anticipation that BoE will continue with tightening next week, and probably more afterwards. Despite the strong showings by European majors, Australian Dollar still leads the pack for the week. With the week drawing to a close, it remains to be seen whether Euro and its counterparts can overturn this picture.

In the wake of BoJ's decision to hold its monetary policy steady, we have seen an amplified sell-off in Yen, which is not surprising given the ongoing divergence in monetary policy with other major global central banks. The breaking of key levels in some crosses suggests that we might witness further declines in Yen, at least until Japanese authorities intervene once again.

(RTTNews) - The manufacturing sector in New Zealand continued to contract in May, albeit at a slower pace, the latest survey from BusinessNZ revea...

Economists at the country's biggest banks are neatly divided as to whether the economy has or has not gone into recession, but there's great consensus that things are slowing and that our current account deficit's very big