Video: Kiwi holds up with news of weak US employment data
12th Jan 09, 9:22am
Weak US employment data contributed to the Dow closing down 1.6% on the week. US unemployment rate to 7.2% - highest in 16 years. Oil went to US$40.80 per barrel. NZ$ at 59 USc, will move on weak US$. In NZ keep an eye on variable mortgage rates as 90 day bank bills and government bonds fall. Also keep an eye on term deposit rates. Weak European output figures for November. Germany feels forced to announce a 50 billion Euro stimulus package to be passed in an urgent cabinet meeting.