XE Morning Update January 28, 2019
NZDUSD 0.6551 -0.7%
NZDEUR 0.5947 0.0%
NZDGBP 0.5016 -0.7%
NZDJPY 71.41 -1.4%
NZDAUD 0.9691 0.6%
NZDCAD 0.8634 0.1%
GBPNZD 1.9936 0.7%
Concerns over the continued spread of the coronavirus outbreak have again hit global financial markets with equity markets and risk-linked currencies falling sharply.
The coronavirus has at last count killed 82 people in China with another 3000 confirmed ill. The spread of the virus continues with multiple cases confirmed in Hong Kong, Singapore, South Korea, Japan, Australia, France and the United States.
Global equity markets have had a significant pulled back since Friday with European and Asian markets down circa 2.5% overnight. Crude oil prices are trading at 3-month lows having fallen a further 4.2% from Friday’s close.
Monetary policy statements from the Federal Reserve and the Bank of England will be the main focus for investors over the course of the week with tomorrow’s Australian inflation report the most notable data release during our trading hours.
Global equity markets are down sharply, - Dow -1.25%, S&P 500 -1.23%, FTSE -2.32%, DAX -2.74%, CAC -2.68%, Nikkei -2.03%, Shanghai -2.75%
Gold prices are up 0.8% trading at $1,578 an ounce. WTI Crude Oil prices are sharply lower, down 4.2% trading at 55.01 a barrel.