XE Morning Update January 24, 2019
NZDUSD 0.6595 0.1%
NZDEUR 0.5965 0.4%
NZDGBP 0.5032 0.3%
NZDJPY 72.15 -0.3%
NZDAUD 0.9639 0.1%
NZDCAD 0.8663 0.0%
GBPNZD 1.9871 -0.3%
The Kiwi opens at 0.6595
The highlight of yesterday was the AUD. It started off well, with solid Unemployment data, not far off the lowest levels in the past 8 years. CBA and ANZ have tweaked the forecasts, no longer predicting a cut in February. However the half percent jump in the AUD was not enough to survive overnight, with jitters coming though during the US session.
The market remains wary of developments around Coronavirus. To put it in perspective, Wuhan, a small Chinese city of 11 million people has effectively been closed, with no one allowed to leave, and flights and trains in are being cancelled. Hopefully such concerted quick actions will be enough to contain it, but if it is not, then the economic impact will start to soon be felt, and this is what the market is worried about.
Today’s highlight is NZ CPI q/q at 10:45 this morning, and then we have a slew of European PMIs overnight.
Global equity markets are mixed, - Dow -0.10%, S&P 500 -0.20%, FTSE -0.85%, DAX -0.94%, CAC -0.65%, Nikkei -0.98%, Shanghai -2.75%
Gold prices are up 0.5% trading at $1,565 an ounce. WTI Crude Oil prices are off again, down 2.9% trading at 55.10 a barrel.