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HiFX morning Update, November 23, 2018
The Kiwi opens at 0.6812
Slight risk off tone overnight, with stocks generally down. Thanksgiving holiday in the States, which means liquidity will be lower than normal. This generally leads to quiet trading, however if you do get a move, it can often be very sharp. For now the NZD is basically consolidating, looking for direction either way.
The Pound has performed well, managing to hold onto its gains after headlines out that the UK and EU agree on draft Brexit text. While certainly positive, the deal still needs to get through parliament, so by no means is everything finalised. The EU27 leaders are also meeting on the 25th November to discuss issues such as fisheries and Gibraltar. The Monday open could well be quite different from the Friday close for the GBP.
For those that still follow data, there is a lot of PMI data expected out of Europe overnight. The CAD can also expect some volatility at 02:30 with CPI and Core Retail Sales printing.
Global equity markets have turned negative , Dow -0.0%,
S&P 500 +0.3%, FTSE -1.28%, DAX -0.94%, CAC -0.75%, Nikkei
+0.65%, Shanghai -0.23%.
Gold prices are flat trading at $1,227 an ounce. WTI Crude Oil prices have are off again, down 3.5% to $53.85 a barrel.
ends
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