![Signs of US weakness hits world markets overnight](/pf/resources/images/placeholders/placeholder_l.png?d=793)
Signs of US weakness hits world markets overnight
Stocks in Europe and the US fell after worse-than-expected US economic data bolstered concern about growth.
Stocks in Europe and the US fell after worse-than-expected US economic data bolstered concern about growth.
The New Zealand dollar edged up against the greenback and euro overnight as markets waited for firms in the United States to start reporting second-quarter earnings results
The NZ dollar peeked above US71c for the first time since late June as good economic data from the US and Australia restored faith in the global economic recovery.
Stocks in the US gave up earlier gains as investors were cautious before the start of next week's earnings season.
Stocks in the US rose as the fastest American retail sales growth in four years firmed optimism about the economic outlook.
Fonterra says milk powder prices in its monthly internet auction fell around 13.7 per cent overnight.
Stocks in Europe, Brazil and Canada fell, as did oil prices, amid increasing signs that economic growth was cooling globally.
The New Zealand dollar has fallen against major currencies as global growth worries continue.
Equities slid overnight amid further signs of economic weakness in China, Europe and the US.
The kiwi dollar extended its decline to a three-week low as fears over America's recovery sapped investors' appetite for riskier assets.
In a new statement of intent, the Reserve Bank says it is looking at new tools to support the traditional Official Cash Rate.