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HiFX Morning Update, May 14 2018

The NZDUSD opens unchanged at 0.6966 (mid-rate) this morning.

The Kiwi remains the worst performing of the G10 currencies since Friday morning, in relatively quiet trade.

Overnight on Twitter U.S. President Trump announced he has instructed the Commerce Department to reverse its sanctions on China’s ZTE, which can be taken as a key concession in the trade negotiations.

U.S. University of Michigan Consumer Sentiment was modestly better than the market expectation for 98.5 in May with a reading of 98.8

Canadian Employment rate remained unchanged in April at 5.8%, and the Employment Change fell by 1,100 jobs when 17,800 was expected, from 32,300 in March

This week’s data releases for New Zealand include Global Dairy Auction Wednesday, Producer Price Index and Annual Budget on Thursday

Global equity markets are all higher: Dow +0.37%, S&P 500 +0.17%, FTSE +0.31%, DAX -0.17%, CAC -0.07%, Nikkei +1.16%, Shanghai -0.35%.

Gold prices are down 0.5% or $7 to $1,314 an ounce. WTI Crude Oil prices have fallen 1.4% trading at $70.45 a barrel.


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