
'No' vote leads to stormy day of trading
Greece’s “no” vote on austerity measures lead to a tumultuous day of trading across equity markets – including New Zealand and Australia.
Greece’s “no” vote on austerity measures lead to a tumultuous day of trading across equity markets – including New Zealand and Australia.
The dollar hits a five-year low as Greeks reject austerity in referendum.
Because Greece doesn't have its own currency, it couldn't increase its competitiveness and boost growth through devaluation.
Auckland housing affordability has fallen 10.2pc in the quarter - and 25 per cent over the previous 12 months.
World shares have slumped on concern Greece is headed for default and exit from the euro zone.
The kiwi dollar has fallen gain, as the Greece debt crisis pushes investors into 'safe havens".
Traders in the local currency are sensitive to suggestions that the Reserve Bank may intervene in the market to lower its value.
Wall St moved lower overnight with European equities as the posturing between Greece and its international creditors continued.
The New Zealand dollar rose from a five-year low as investors weighed up the outlook for the US economy and interest rate increases.
Global shares traded in a narrow range overnight as investors assessed data pointing to a brighter outlook and awaited Greek bailout news.
The dollar jumped briefly above 70 US cents after the US Fed Reserve pulled back its projections for future interest rate rises.
Yellen has long been categorised as what Fed watchers call a "dove," someone who favours looser monetary policy.
The United States will still have more than double China's per capita income by 2061 even as Chinese income levels grow.
The dollar was little changed, holding below 70 US cents, after a relatively small decline in dairy prices.
The NZ dollar has slipped against the euro as breakdown in Greek debt negotiations stoke fears it will leave the Euro.
Wall St moved lower overnight amid concern about the hardening of stances in talks between Greece and its international creditors as this month's deadline looms large.
The NZ dollar touched 69.41 US cents ahead of the New York close, the lowest level since July 2010.