XE Morning Update - September 27, 2019
NZDUSD 0.6303 0.5%
NZDEUR 0.5769 0.6%
NZDGBP 0.5113 0.7%
NZDJPY 67.99 0.5%
NZDAUD 0.9333 0.5%
NZDCAD 0.8359 0.5%
GBPNZD 1.9554 -0.8%
The NZD opens up at 0.6303
Sentiment has improved for the Kiwi, as Reserve Bank Governor Orr came out yesterday saying they are unlikely to use unconventional monetary policy. You would have thought that was implied with the word unconventional, however for now, the Market is liking it.
The AUD on the other hand is consolidating before the RBA’s rate decision on Tuesday. A cut is currently 78% priced in, which is a fairly live meeting. There is a realistic chance that they keep rates steady, and if so should see a decent jump in the AUD. On a meeting like this we would expect movement whatever the result, so it will pay to watch it closely at 4:30 pm NZT on Tuesday.
We have US Durable goods data overnight,
although I would expect the Market to be more worried about
potential news out of Trumps Impeachment proceedings over
Global equity markets remain mixed, - Dow -0.16%, S&P 500 -0.12%, FTSE +0.84%, DAX +0.44%, CAC +0.66%, Nikkei +0.13%, Shanghai -0.89%.
Gold prices are up 0.7% overnight currently trading at $1,513 an ounce. WTI Crude Oil prices are steady, up 0.2% trading at $56.49 a barrel.