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HiFX Morning Update, September 7 2018
The NZD opens unchanged at 0.6595.
With mixed US data over night, (weaker Non-Farm Employment but stronger Non-Manufacturing PMI), the USD has traded sideways in a relatively small range overnight.
The Pound had a fairly strong day, with news of a potential softening of demands by the EU seeing it up over 1% in only a 5 minute period. These gains were pretty short lived however, as we had officials out of Germany stating that nothing had indeed changed in their position. This more highlights the fact that the Pound is very sensitive to headline risk, and there will be no end in sight to that till Brexit is finalised either way by March next year.
The Canadian Dollar has had a boost with the Bank of Canada coming out saying they discussed whether the gradual approach to raising rates remains appropriate.
RBNZ Governor Adrian Orr is delivering a speech at 9:30 this morning, and then we have a range of CAD and USD data overnight.
Equity markets are off a touch, Dow 0.24%, S&P 500 -0.18%, FTSE -0.87%, DAX -0.71%, CAC -0.31%, Nikkei -0.41%, Shanghai -0.41%.
Gold prices are virtually flat trading at $1,197 an ounce. WTI Crude Oil prices continue to slide, down 0.9%, trading at $67.85 a barrel.
ends
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