Market update 23-03-17

In our economic calendar news, the Reserve Bank of New Zealand decided to maintain their Official Cash Rate at 1.75 percent this morning. This strengthened the kiwi dollar further today. Meanwhile, oil prices slipped again yesterday to their lowest since November of last year. This is because the United States shale oil producers have been adding rigs, boosting the country’s weekly oil production to about 9.1 million barrels per day for the week ended March 10th from an average 8.9 million barrels per day for 2016. Even though, the Organization of the Petroleum Exporting Countries or OPEC and some non-OPEC members have reduced output by 1.8 million barrels per day, it still has done little to reduce bulging global oil stockpiles.

  • Archives

  • Categories

  • Latest News

  • Copyright © 2015 - Home Finance Company Ltd