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XE Morning Update November 21, 2019

NZDUSD 0.6411 -0.2%
NZDEUR 0.5794 -0.1%
NZDGBP 0.4961 -0.2%
NZDJPY 69.66 -0.1%
NZDAUD 0.9432 0.2%
NZDCAD 0.8535 0.1%
GBPNZD 2.0157 0.2%

The NZDUSD opens at 0.6411 (mid-rate) this morning.

Sentiment waned yesterday after China warned the US not to interfere in Hong Kong affairs, after the US Senate unanimously passed a bill supporting protesters.

The bill’s passage has had a negative effect for the ongoing US-China trade negotiations with US Vice President Mike Pence stating that it would be tough for the US to sign a trade agreement with China if the demonstrations in Hong Kong are met with violence.

Global equity markets which were edging lower on the news suffered a further blow after President Trump threatened higher tariffs on Chinese goods if an agreement is not reached soon. "If we don't make a deal with China, I'll just raise the tariffs even higher," Trump said during a cabinet meeting at the White House on Tuesday.

The USD has consolidated ahead of this morning’s FOMC minutes with the market expecting confirmation that the Fed are on hold for now. It is unlikely there will be any surprises in the minutes with Chairman Powell fronting the media and answering questions during the post meeting press conference.

Global equity markets remain mixed, - Dow -0.31%, S&P 500 -0.10%, FTSE +0.22%, DAX +0.11%, CAC -0.35%, Nikkei -0.63%, Shanghai +0.85%

Gold prices are little changed trading at $1,474 an ounce. WTI Crude Oil prices continue to fall, down 2.0% to $55.75 a barrel.

Upcoming Data releases (NZST):
08:00 - FOMC Meeting Minutes
15:00 - Credit Card Spending


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