News | Business
22 May 2013 17:49
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Videos
  • Finance
  • Shopping
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • Auctions
  • SearchNZ
  • NZSearch
  • Crime.co.nz
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Advertising
  • Login
  • Logout
  • Your Privacy


  • NZCity - NZ's Best Homepage
      Home > News > Business

    NZ dollar gains ahead of US jobless rate

    The New Zealand dollar is poised for a 0.6 per cent weekly gain against the greenback as the US employment figures are expected to show a stalemate.


    The kiwi gained in local trading ahead of US jobs figures which will likely show the unemployment rate is unchanged in the world's biggest economy.

    Spain's government is preparing to make a public announcement on how it's faring.

    The kiwi rose to 81.29 US cents at 5pm from 80.88 cents at 8am and 80.91 cents, as the trade-weighted index advanced to 73.44 from 73.

    The New Zealand dollar is poised for a 0.6 per cent weekly gain against the greenback and a 1.4 per cent increase on a trade-weighted basis.

    Although the US added 100,000 jobs last month its unemployment rate stayed at 8.2 per cent, according to a Bloomberg survey of economists.

    Traders are looking to see whether the figures are in line with expectations, or if the US labour market remains weak, increasing the chance of more asset purchases by the Federal Reserve.

    "If it confirms another soft payrolls figure, that raises the risk the Fed has to do more," said Joe Carpuso, currency strategist at Commonwealth Bank of Australia in Sydney.

    Traders will look to Spanish Prime Minister Mariano Rajoy's press conference after a Cabinet meeting to provide an update on the Mediterranean nation's parlous finances.

    The kiwi dollar got a small boost from Standard & Poor's reaffirming New Zealand's AA credit rating, saying the government's strong fiscal position is offsetting the nation's high level of external debt.

    Investors were put on edge in Northern Hemisphere trading after the European Central Bank failed to deliver any immediate package to shore up the region's debt crisis.

    That followed on from the Fed meeting a day earlier, which didn't offer any more clues on whether the central bank will print more money.

    The New Zealand dollar climbed to 66.76 euro cents from 66.02 cents at 5pm yesterday, and gained to 52.39 British pence from 52.05 pence.

    It increased to 77.59 Australian cents from 77.14 cents, and was little changed at 63.56 yen from 63.48 yen.

    Busi


    NZN




    © 2013 NZN, NZCity


     Other Business News
     22 May: DNZ raises cash, reports lower earnings
     22 May: Vodafone sheds 7000 customers
     22 May: Kiwi weakens on US stimulus expectations
     21 May: Overpricing worries drag stocks back
     21 May: Fisher and Paykel Healthcare stocks gain
     21 May: Renaissance posts loss
     21 May: Cop investigates fake foreign licences
     Top Stories

    RUGBY RUGBY
    Hore KO victim Davies to captain Wales More...


    BUSINESS BUSINESS
    DNZ raises cash, reports lower earnings More...



     Today's News

    Law and Order:
    Jail term remains for runaway millionaire 17:27

    Entertainment:
    Demi Lovato is having her tonsils out this summer. 17:26

    Politics:
    Four schools to merge in Christchurch 16:57

    Entertainment:
    Miley Cyrus was inspired to write her new song 'We Can't Stop' by her fans. 16:56

    Entertainment:
    Mary J. Blige has been handed a $3.4 million tax bill. 16:26

    Rugby League:
    League star Ben Te'o denies assault claim 16:17

    Entertainment:
    Heidi Klum isn't interested in marrying again because she has lived that "fairytale". 15:56

    Politics:
    IPCA recommendations too weak: Maori Party 15:27

    Entertainment:
    Justin Timberlake has been helping fellow stars enjoy the Cannes Film Festival experience. 15:26

    Law and Order:
    Four boys behind "worst burglary" in 10yrs 14:57


     News Search






    Power Search


    Click for info on advertising with WebAds
    © 2013 New Zealand City Ltd