XE Morning Update
The NZDUSD opens at 0.6273 (mid-rate) this morning.
The NZD strengthened yesterday afternoon after the RBNZ, as expected kept the Official Cash Rate unchanged at 1.0%.
The Monetary Policy Committee judged that the incoming data "did not warrant a significant change to the monetary policy outlook" and although the door is still open for further rate cuts the addition of the wording “if necessary” suggests the Committee are comfortable with the way the economy is tracking.
The USD has rebounded overnight , after falling on the impeachment news against President Trump earlier in the week. Last night’s release of the transcript of his call with Ukrainian President Zelensky in which Trump had been accused of withholding foreign aid if Zelensky refused to work with Trump’s attorney-general in investigating Biden and his son, has been reviewed by the US Department of Justice who have deemed that there was no campaign finance violation and that no further action is warranted.
The British pound is back under the pump with calls for Prime Minister Boris Johnson to resign after the Supreme Court ruled that Johnson had unlawfully prorogued parliament. The ruling has significantly reduced the chances of the UK exiting the EU without a deal.
Global equity markets remain mixed, - Dow +0.63%, S&P 500 +0.51%, FTSE -0.02%, DAX -0.59%, CAC -0.79%, Nikkei -0.36%, Shanghai -1.00%.
Gold prices are down 1.6% overnight
currently trading at $1,502 an ounce. WTI Crude Oil
prices have dipped further currently down 1.2%
trading at $56.40 a