HiFX morning Update, November 22, 2018

Thursday, 22 November 2018, 8:41 am
Press Release: HiFX

NZDUSD 0.6833 0.5%
NZDEUR 0.6001 0.3%
NZDGBP 0.5351 0.6%
NZDJPY 77.26 0.7%
NZDAUD 0.9415 0.0%
NZDCAD 0.9069 0.3%
GBPNZD 1.8688 -0.6%

The NZDUSD opens at 0.6833 (mid-rate) this morning.

The USD is on the back foot this morning after the US Commerce Department reported durable goods orders in the month of October declined sharply.

According to the report a substantial decrease in orders for transportation equipment which plummeted by 12.2% was the major contributor to the overall 4.4% decline in orders. Economists had forecast orders to decline by 2.5% following on from September’s downwardly revised 0.1% dip.

Core durable goods orders which exclude transportation items and are monitored closely by the Federal Reserve, also disappointed with the report showing orders inched up by 0.1% in October well below the expected 0.4% increase. Septembers final result was also revised to a 0.6% decrease after originally being reported as a 0.1% increase.

The University Michigan consumer sentiment index for the month of November was downwardly revised to 97.5 from the preliminary reading of 98.3 the result shows a slight deterioration from October’s final reading of 98.3. Economists had expected the index to remain unchanged from its preliminary reading.

Following six consecutive months of decreases this morning the National Association of Realtors (NAR) reported existing home sales spiked 1.4% to an annual rate of 5.22 mil in October. The increase was ahead of the expected 1.0% increase in sales and follows on from September’s 3.4% fall.

Markets are expected to take a breather today and currencies are unable to settle as the US enters its Thanksgiving holiday tonight.

Global equity markets have turned positive, - Dow -+0.53%, S&P 500 +0.95%, FTSE +1.47%, DAX +1.61%, CAC +1.03%, Nikkei -0.35%, Shanghai +0.21%.

Gold prices are marginally higher up 0.3% trading at $1,226 an ounce. WTI Crude Oil prices have reversed yesterday’s sharp fall, currently up 4.8% trading at $55.82 a barrel

ends

© Scoop Media

HiFX

International Payments Expertly Done

HiFX is one of the largest foreign exchange and international payment specialists in the world, managing over $30 billion on behalf of over 100,000 clients worldwide every year.

Large enough to undertake the biggest transactions, yet small enough to care about each and every one – send and receive overseas payments and manage your account anytime, anywhere. HiFX gives you the flexibility you need to transfer money quickly and easily via a secure online platform 24 hours a day, seven days a week - making moving money as easy as 1,2,3.

HiFX Ltd ABN 54 106 779 953/ AFSL No 240914

Contact HiFX

• Website - www.hifx.co.nz
• About - HiFX International Payments
• Link - Live Rates (Interbank Exchange Rates)
• Marketwatch - Latest Market briefings
• Register - Personal Account Setup
• Register - Business Account Setup
• Linkedin
• Facebook