Kiwi falls against greenback, yen as risk appetite ebbs, commodities fall

The New Zealand dollar declined against the greenback and the yen as equities markets and commodities fell and figures showed the US economy is still growing only weakly.

The kiwi fell to 83.17 US cents from 83.42 cents at 5pm in Wellington yesterday. The local currency sank to 77.36 yen from 77.97 yen.

The Thomson Reuters/Jefferies CRB Commodity Index fell 1.1 percent yesterday while Solid Energy's weak finances underlined the damage caused by falling prices of coal.

Stocks declined in Asia yesterday and continued into Europe, where manufacturing and services were weak, and the US, where jobless claims rose, consumer prices flatlined and the Philadelphia Fed's business index dropped.

"That makes a combination of things that are risk-off" for the kiwi, says Tim Kelleher, head of institutional FX sales at ASB Institutional.

The trade-weighted index fell to 76.09 from 76.22.

The kiwi gained to 63.12 euro cents from 62.90 cents as weak eurozone data saw the euro broadly weaker against its trading peers. The local currency fell to 54.55 British pence from 54.83 pence. The Australian dollar slipped to 81.33 Australian cents from 81.49 cents.

(BusinessDesk)

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NZ Market Snapshot

Forex

Sym Price Change
USD 0.7831 -0.0010 -0.13%
AUD 0.9224 0.0005 0.05%
EUR 0.6286 -0.0005 -0.08%
GBP 0.5013 0.0005 0.10%
HKD 6.0858 0.0040 0.07%
JPY 92.9740 0.0740 0.08%

Commods

Commodity Price Change Time
Gold Index 1167.0 -29.600 2014-11-28T00:
Oil Brent 74.4 -5.030 2014-11-28T00:
Oil Nymex 66.2 -7.540 2014-11-28T00:
Silver Index 15.5 -1.060 2014-11-28T00:

Indices

Symbol Open High Last %
NZX 50 5455.4 5474.7 5455.4 -0.57%
NASDAQ 4797.1 4810.9 4787.3 0.09%
DAX 9990.7 9990.7 9974.9 0.06%
DJI 17830.5 17893.4 17827.8 0.00%
FTSE 6723.4 6734.7 6723.4 -0.01%
HKSE 23982.3 24117.2 24004.3 -0.07%
NI225 17340.2 17471.9 17248.5 1.23%