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HiFX Morning Update, January 17 2017
HiFX Morning Update, January 17 2017
The NZDUSD opens at 0.7101 (mid-rate) this morning.
The NZD which had extended its recent gains against all its rivals during the morning trading session yesterday, quickly returned to its opening levels as investors sold risk in favour of safe havens ahead of tonight’s Brexit speech.
British Prime Minister Theresa May in a speech to foreign ambassadors and diplomats is expected to announce that her government will push for a clean divorce from the European Union (hard Brexit) and will terminate Britain’s relationship with the European Court of Justice (ECJ), meaning it will no longer adhere to EU law.
Tonight’s GDT auction should prove to be crucial for NZD direction following the previous 3.9% fall which saw the NZD fall below 70 US cents.
Global equity markets are slightly lower - Dow Closed, S&P 500 Closed FTSE -0.15%, DAX -0.644%, CAC -0.82%, Nikkei -1.00%, Shanghai -0.30%.
Gold prices have pushed back above $1,200 an ounce currently up 0.4% at $1,202 an ounce, WTI Crude Oil is little changed at $52.31 a barrel.
ends
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