Structural log prices highest in 24 years

New Zealand structural log prices rose to the highest level in 24 years and A-grade export logs hit a record as local mills compete with the export market to secure supply for the domestic construction market amid strong demand from…

FMA issues formal warning under anti-money laundering law to forex company and Hurricanes sponsor Fullerton Markets

Tweet Fullerton CEO Mario Singh & Bill English. The Financial Markets Authority (FMA) says Fullerton Markets, an unlicensed Wellington-based forex company that it has issued a formal anti-money laundering warning to, has withdrawn its application for a derivatives issuer’s licence. On Friday morning the FMA issued the warning to Fullerton. In it the FMA says it has “reasonable grounds” to believe Fullerton …

Lower wholesale rates and low term deposit offers open small opportunities for banks to trim mortgage rates, but movement is not large, despite slow real estate markets

Tweet Kiwibank is ending its free Samoa holiday promotion for customers who move an existing home loan to the bank or draw down a new home loan of at least $200,000. That deal required borrowers to have a minimum equity of 20%, and in return you get return flights for two adults to Apia flying economy with Air New Zealand …

The Opening Bell: Where currencies start on Friday, November 24, 2017

Tweet By Dan Bell The NZDUSD opens higher at 0.6888 this morning. A quiet night in the financial markets as the US Banks were closed in observance of Thanksgiving Day. The NZDUSD has traded a 110 point or 1.6% range this week, with the Kiwi trending higher, all four days. The Eurozone economy is showing signs of picking up momentum in …

USD has sustained the fall seen post the slightly dovish FOMC minutes yesterday; weaker USD saw the NZD push higher, peaking at 0.6905; EUR also pushed up to the 1.1850 USD mark; local yield curve saw some slight downward pressure on rates

Tweet By Jason Wong The USD has sustained the fall seen post the FOMC minutes yesterday.  Overnight moves have been small, with US markets closed for the Thanksgiving holiday. Soon after we went to print yesterday, the FOMC’s minutes of its last meeting were interpreted as slightly dovish, seeing the USD come under pressure and UST yields nudge lower.  A …

China stocks drop; China eyes large aircraft orders; EU confidence jumps; AU seeks new way without the US; Adelaide battery ready; UST 10yr yield at 2.32%; China 10yr yield hits 4%; oil and gold up; NZ$1 = 68.9 US¢, TWI-5 = 71.6

Tweet Here’s my summary of the key events overnight that affect New Zealand with news of sharp falls in Chinese stock markets. But first in the US it is their Thanksgiving holiday today with markets closed. But the next four days will set the scene for the holiday shopping period for their retail industry. Across the Pacific, the Shanghai Stock …