Money Australia, NZ dollars all wrung out by tariff showdown

02:36  06 july  2018
02:36  06 july  2018 Source:   reuters.com

Trump responds to Harley-Davidson, says it's waving the 'White Flag' by moving production out of US because of tariffs

  Trump responds to Harley-Davidson, says it's waving the 'White Flag' by moving production out of US because of tariffs President Donald Trump attacked Harley-Davidson on Twitter on Monday after the company announced it was shifting production out of the US because of Trump's trade fight with the EU. President Donald Trump late Monday went after iconic American motorcycle company Harley-Davidson after the company announced it was moving some production out of the US.

Get live exchange rates for Australia Dollar to New Zealand Dollar . The pair yesterday posted an eight-day low at 1.1727. Most euro crosses also gained. News that EU members have thrashed out deal on immigration (to shore up external borders and

The US president has also singled out the Europeans as a problem as great to the US on trade as China. This makes Slovakia the EU's leading car and car part exporter to the United States in terms of share of GDP — and the most vulnerable to tariffs .

FILE PHOTO: An Australia Dollar note is seen in this illustration photo© REUTERS/Thomas White/Illustration/File Photo FILE PHOTO: An Australia Dollar note is seen in this illustration photo The Australian and New Zealand dollars were precariously poised on Thursday as markets counted down to the threatened launch of U.S tariffs on China, and the risks that might hold to trade and growth worldwide.

The kiwi dollar (NZD=D3) hovered at $0.6768, having touched its lowest since May 2016 at $0.6688 earlier in the week.

The Aussie dollar (AUD=D3) was looking shaky at $0.7379, after ailing to sustain a bounce to $0.7424 overnight. The pace of the pullback suggested speculators were keen to test the recent 18-month trough around $0.7311.

Chinese telco Huawei lobbies hard to allay Australia's security concerns

  Chinese telco Huawei lobbies hard to allay Australia's security concerns Chinese telecom firm Huawei Technologies Co Ltd's [HWL.UL] network equipment is "safe and secure", its Australian chairman said on Wednesday, ramping up the company's public lobbying against concerns that its links to China pose a security risk. Australia is likely to bar Huawei from participating in a 5G mobile telecommunications roll-out as it fears the company is de facto controlled by Beijing and sensitive infrastructure will be vulnerable to eavesdropping, according to Australian media reports.

oneroof.co. nz . All things property. New Zealand Dollars (NZD) Australia Dollars (AUD) United States Dollars (USD) Euro (EUR) United Kingdom Pounds (GBP) Japan Yen (JPY) China Yuan Renminbi (CNY) Canada Dollars (CAD) South Africa Rand (ZAR) Emirati Dirham (AED) Afghan

Elsewhere, the USD/JPY pair fell 0.05% to 110.84. Dollar Rises Ahead of Looming U.S., China Tariffs . Australia shares to fall on material stocks, NZ down By Reuters - Jul 04, 2018. Australia regulator calls for overdraft ban, fee-free banking for

"We still believe that $0.7400 represents 'fair value' and we note that investors already appear somewhat short in AUD," said Nomura economist Andrew Ticehurst.

"However, the currency continues to be used as a China and global risk proxy and a further deterioration in sentiment could see AUD, and AUD/JPY in particular, trade lower."

Investors are on tenterhooks ahead of the July 6 deadline when the U.S. administration is due to slap tariffs on $34 billion worth of Chinese goods.

China is Australia's single biggest export market and the world's largest buyer of commodities, making the Australian economy particularly sensitive to developments there.

Trump threatens Harley-Davidson again, says the company 'should stay 100% in America' after 'I've done so much for you'

  Trump threatens Harley-Davidson again, says the company 'should stay 100% in America' after 'I've done so much for you' President Donald Trump once against attacked Harley-Davidson via Twitter. On Monday, Harley announced that it would shift some of its production outside of the US due to Trump's trade fight with the European Union. Trump's decision to impose a 25% tariff in steel imports to the US had already hurt Harley's business. But the announcement of EU tariffs on US-made motorcycles as a response to the steel tariff appears to have been the last straw.

switch to the Australia edition. EU says Trump car tariffs 'will put a tax on the US people'. Read more. England knock Colombia out of World Cup in last-16 penalty shootout. Live Thailand cave rescue: medics reach boys – live updates.

But he denied reports he plans to pull out of the WTO. The US will start imposing a 25 per cent tariff on USb in Chinese imports this Friday. New Zealand Dollars (NZD) Australia Dollars (AUD) United States Dollars (USD) Euro (EUR) United Kingdom Pounds (GBP) Japan Yen (JPY) China Yuan

Reserve Bank of Australia (RBA) Governor Philip Lowe recently singled out President Donald Trump's protectionism as the single greatest threat to the global outlook.

Domestically, policymakers are also concerned about weakness in home prices and the impact it might have on household wealth, the RBA's head of economics said on Thursday.

Alex Heath noted recent economic data had been positive and the bank was more confident about the outlook for investment outside the mining sector.

But she noted housing construction was no longer adding to growth and the downturn in house price bore close watching.

All of which is why markets have pushed out any chance of a hike in RBA rates until far into 2019 and pulled down bond yields to multi-month lows.

Yields on Australian 10-year paper (AU10YT=RR) have fallen 34 basis points since mid-May to stand at 2.60 percent.

The three-year bond futures contract (YTTc1) was up half a tick at 97.940, having hit its highest since December earlier in the week, while the 10-year contract (YTCc1) eased 1 tick to 97.3950. New Zealand government bonds (0#NZTSY=) were mostly steady.

(Editing by Sam Holmes)

Iron ore catches a bid as steel prices surge again .
Iron ore prices rose on Thursday, supported by continued strength in steel prices and an improvement in investor risk appetite. Analysts suggest steel prices are being supported by both supply and demand factors at present.According to Metal Bulletin, the price for benchmark 62% fines jumped 1.1% to $64.06 a tonne, the largest increase since June 26.

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