Soft US data, lower oil prices, stronger NZD, eyes on tomorrow's dairy auction where lower prices are expected

Short headline:  USD yoyo continues Tweet By Kymberly Martin The recent USD yoyo continues with the USD again underperforming most of its peers overnight. European currencies outperformed. Overnight, the recent run of softer-than-expected US data continued, with both industrial production data and the Empire Manufacturing survey coming in below expectation. In addition, the WTI price has fallen a further 3% …

US factory output sags; Russia cuts rate; China targets internet cars; GE Money plans growth spurt; crude oil prices fall, output rises; NZ$1 = 74.1 USc, TWI = 79.5

Short headline:  90 seconds at 9 am: Oil prices sink Tweet Here's my summary of the key issues from overnight that affect New Zealand, with news of more downside news for oil and energy prices. But first, American industrial production fell in February for the third straight month as the production of cars and a range of goods slipped from January, the …

Waikato Fed Farmers calls for debate on dairy conversion moratorium; Greens call for Landcorp to stop conversions; PM backs Fed Farmers' efforts

Short headline:  Call for dairy conversion moratorium Tweet By Bernard Hickey The debate over whether parts of New Zealand have hit 'peak dairy' and require moratoriums on conversions has flared again from an unlikely source. The President of Federated Farmers' Waikato division, Chris Lewis, recently questioned at an executive meeting whether a moratorium was needed in the Waikato before thousands …

Fonterra poised for $800m China formula deal news

An announcement is understood to be imminent on Fonterra’s partnership with Chinese infant formula maker Beingmate Baby & Child.The New Zealand dairy giant submitted a partial tender offer to buy an up to 20 per cent stake in Beingmate…

Roger J Kerr says the risk of medium to long term rates increasing is dependent upon US bond market movements, not the RBNZ or the NZ economy or our inflation

Short headline:  RBNZ cannot hide from a strong economy Tweet By Roger J Kerr Some key 'take-outs' for those with interest rate risks from last week’s RBNZ Monetary Policy Statement and associated media conference: – The New Zealand economy is far from dead (note forecasts of +3.5% GDP growth rates) and thus future inflation risks are also therefore far from …

Economic growth to slowly come off boil: NZIER

New Zealand economic growth will slow over the next three years, while maintaining a “solid” pace, according to the NZ Institute of Economic Research’s consensus forecasts.The economy is expected to expand 3.3 per cent in the year…

Lion NZ full-year net profit falls 20pc

Lion – Beer, Spirits & Wine (NZ) Ltd , which has 46 per cent of the New Zealand market and is owned by Japan’s Kirin Holdings, is making less money in the domestic market as alcohol drinkers opt for quality over quantity.Accounts…

Growth tipped to ease after brisk quarter

Economists expect some easing in the pace of economic growth when the December quarter national accounts are published on Thursday.The September quarter recorded a brisk 1 per cent growth in gross domestic product, for an annual…