Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: NZD Official Cash Rate @ 21.00 GMT

WHAT WE’RE WATCHING TODAY

RBNZ Expected To Hike Official Cash Rate

The Reserve Bank of New Zealand is widely expected to lift the official cash rate a further 25 bps when it meets today. However, there is less consensus on the indications the bank may provide about the timing and pace of future hikes. The RBNZ began lifting the OCR from historically low rates in March to the current 3.00% and at the time signaled regular increases at six weekly intervals through September. Since then the balance of factors has shifted. While dairy prices have declined and the pace of gains in house prices has slowed, the exchange rate has remained steady, migration has soared, and economic data have surprised to the upside. The net balance doesn’t change expectations for a hike on Thursday but economists differ on whether this raises the odds of a hold in July and the number of OCR hikes that are likely this year. Expectations range from another 25 basis hike by December, following the likely Thursday hike, to three more hikes that will take the OCR to 4.00%.The money market is expecting a total of two hikes by December. Reserve Bank governor Graeme Wheeler will release the bank’s decision today @ 21.00 hours GMT. The bank’s statement will include an updated set of economic forecasts in the quarterly Monetary Policy Statement.

Euro Under Pressure In Asia As Stocks Sit On Gains

The euro came under fire today as the European Central Bank’s embrace of negative interest rates encouraged flows out of the Eurozone, while Asian shares consolidated near recent highs. In contrast the dollar found support in a run of improving U.S. economic data which has increased speculation that the Federal Reserve might sound less dovish on policy when it meets next week. The euro fell to $1.3524 and further away from a $1.3668 peak scored at the start of the week. It also hit a seven-month trough on the higher-yielding Australian dollar and to near its lowest against the pound since late 2007.Action in equity markets was more muted with many indices already having come a long way. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.2 percent from a three-year peak. Japan’s Nikkei edged up 0.3 percent aided by MSCI’s decision to remove South Korea and Taiwan indexes from its review list for reclassification to developed markets, keeping them in the emerging markets classification. Moves were minor on Wall Street with the Dow up 0.02 percent, while the S&P 500 down 0.02 percent.

Google Buying Satellite Company For $500 Million

Google is buying Skybox Imaging, a 5 year old startup, in a deal that could serve as a launching pad for the company to send its own fleet of satellites to take aerial pictures and provide online access to remote areas of the world. The $500 million acquisition will initially provide Google with the means to improve the quality and immediacy of the satellite imagery used in its digital maps. Google plans to use Skybox’s satellite already in orbit to supplement the material that it licenses from more than 1,000 sources, including other satellite companies. Eventually, though, Google hopes to build more satellites that could be used to beam Internet access to points around the world.

That sums up today’s highlights! Check into our Facebook, Twitter and Google+ pages for regular updates on all the tradable events of the day. We hope you have a profitable day on the markets.