Intra-day Market Moving News and Views
30 Oct 2015 01:03GMT
NZD/USD - 0.6731.. Kiwi staged a short-covering strong rebound from 0.6691 (AUS) to 0.6739 following release of upbeat data. Reuters reported New Zealand business sentiment rebounded in October thanks in part to a recent lift in dairy prices, a survey by ANZ Bank showed on Friday.
According to the report, a net 10.5 percent of firms are optimistic about the general economy, a huge turnaround from the net 18.9 percent pessimistic last month.
A net 23.7 percent of respondents expected their own businesses to grow in the next 12 months, up from 16.7 percent last month. Inflation expectations were little changed at 1.70 percent.
"It's hard to go past rebounding dairy prices as a key catalyst. However, the story is broader than dairy," ANZ said.
"The economy has an array of sectors that are doing well. Tourism inflows are buoyant. Housing strength has broadened beyond Auckland. Sentiment across the service sector is tops for confidence, activity, profits, employment and investment."
International milk prices have jumped around 60 percent from 12-1/2 year lows in recent auctions.
Data to be released on Friday:
New Zealand RBNZ rate decision, Japan industrial output, industrial production, Australia exports and imports, UK Nationwide house price, Germany unemployment reports, CPI and HICP, euro zone business climate, consumer inflation expectation, economic sentiment, industrial sentiment, U.S. jobless claims, and pending home sales.
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