Scoop has an Ethical Paywall
HiFX Morning Update August 23 2017
HiFX Morning Update
NZDUSD 0.7278 -0.6%
NZDEUR
0.6195 -0.1%
NZDGBP 0.5678 0.0%
NZDJPY 79.69 0.1%
NZDAUD 0.9209 -0.2%
NZDCAD 0.9143 -0.7%
GBPNZD 1.7611 -0.4%
The NZDUSD opens at 0.7278 (mid-rate) this morning.
The USD has reversed yesterday’s fall and has been the strongest performer of the G10 currencies. In the absence of any US economic data releases the move appears to be driven by weaker than expected German economic sentiment.
German economic confidence in August fell for the third consecutive month, and now sits at a 10 month low. The ZEW Indicator of Economic Sentiment now sits at 10 a sharp fall from July’s 17.5 reading. Economists had expected the indicator to pull back to 14.8.
The UK Office for National Statistics reported UK public sector net borrowing in July turned to surplus for the first time since 2002. The report which excludes public sector banks recorded a GBP0.2 billion surplus. Expectations were for borrowing to increase by GBP1 billion for the month.
Again we are without any economic drivers during our trading day, with investors’ attention likely to be focused of ECB President Draghi’s speech later this evening along with overnight European and US PMI data releases.
Global equity markets broadly higher - Dow +0.73%, S&P 500 +0.81%, FTSE +0.86%, DAX +1.36%, CAC +0.87%, Nikkei -0.05%, Shanghai +0.10%.
Gold prices have given back yesterday’s gains, down 0.6% trading at $1,284 an ounce .WTI Crude Oil prices are up 1% trading at $47.61 a barrel.
ends
HiFX
International Payments Expertly Done
HiFX is one of the largest foreign exchange and international payment specialists in the world, managing over $30 billion on behalf of over 100,000 clients worldwide every year.
Large enough to undertake the biggest transactions, yet small enough to care about each and every one – send and receive overseas payments and manage your account anytime, anywhere. HiFX gives you the flexibility you need to transfer money quickly and easily via a secure online platform 24 hours a day, seven days a week - making moving money as easy as 1,2,3.
HiFX Ltd ABN 54 106 779 953/ AFSL No 240914
Gallagher Security: Release Of New Command Centre Unlocks New Era Of Security Tech
Fix & Fogg: NASA Hand-picks Kiwi Nut Butter Brand To Travel To Space In NZ First
Citizens of the Sea: Sailors To Revolutionise Our Understanding Of Pacific Biodiversity
Netsafe: Making A Splash With Online Safety: Netsafe Launches New Flagship Programme For Kids
NZGBC: Flood Resilience PhD Student Widi Auliagisni Named Future Thinker Of The Year 2024
Business Canterbury: European Free Trade Agreement A Game-changer For Canterbury
