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The NZD opens down at 0.6820
NZDUSD 0.6820 -0.5%
NZDEUR
0.6034 -0.2%
NZDGBP 0.5158 -0.3%
NZDJPY 76.18 0.1%
NZDAUD 0.9655 -0.1%
NZDCAD 0.9089 -0.3%
GBPNZD 1.9383 0.3%
Big news this morning was the vote out of the UK to
kick the Brexit can down the road from March the 29th the
road to June 30th. This was passed by 412 votes to 202, so
quite comfortable. This still needs to be ratified by the
EU, and agreed upon by all 27 member states. They have said
that they want some chance of meaningful change before
accepting the extension. The worry is if it is extended
beyond June, then it could well be a few more years, for
both UK and EU elections before any Brexit. I am not sure
who has the desire for that, but it is almost appearing as
the path of least resistance.
The Kiwi has been
pretty quiet of late, ranging only about 2.5% in the past 8
weeks. Be careful not to get complacent though, as what
often happens after periods of consolidation, is that when
the currency finally moves, it can move quite sharply.
Press conference out of Japan later today rounds off the week, before a slew of data next week. Thursday is shaping up to be a very big day, with major data and announcements out from NZ, Australia, the UK and the States.
Global equity markets were pretty flat on the day Dow +0.13%, S&P 500 -0.12%, FTSE +0.37%, DAX +0.13%, CAC +0.82%, Nikkei -0.02%, Shanghai -1.2%.
Gold prices are off, down 1.1% to USD$1,296 an ounce. WTI Crude Oil prices are flat, up 0.1% to US$58.53 per barrel.
ends
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