HiFX Morning Update, July 12 2017
NZDUSD 0.7225 -0.7%
NZDEUR 0.6302 -1.2%
NZDGBP 0.5625 -0.5%
NZDJPY 82.27 -0.8%
NZDAUD 0.9467 -1.0%
NZDCAD 0.9341 -0.3%
GBPNZD 1.7777 0.5%
The NZDUSD opens at 0.7225 (mid-rate) this morning.
The NZD has been the weakest performer of the G10 currencies over the past 24hrs. The NZDUSD looked to be in danger of
breaking back below 0.7200 before political headlines surrounding Donald Trump Jr and his meetings with the Russian
attorney saw the USD sell-off.
Earlier this morning Donald Trump Jr released a chain of emails that led to his meeting with a Russian lawyer. The
emails between Trump Jr. and publicist Rob Goldstone led to a meeting between Trump Jr and Russian lawyer Natalia
Veselnitskaya. Veselnitskaya it was suggested was willing to provide information that would "incriminate" Democratic
presidential nominee Hillary Clinton. Trump Jr in a statement has said “Veselnitskaya had no information to provide and
wanted to talk about adoption policy and the Magnitsky Act."
Better than expected NAB Business Confidence out of Australia has seen the NZDAUD cross rate fall 1%. The index
recorded a score of +9 up from May’s +8 reading. Business conditions also picked up surging to +15 from +11 in the
previous month.
The day ahead is once again light on data with investors likely to wait for Fed Chair Yellen’s testimony before the US
the House Financial Services Committee before adding to their positions. In the early hours of tomorrow morning the BOC
are expected to hike interest rates, with the market fully pricing in the hike there is substantial downside risk for
the Cad should the BOC decide to sit on their hands.
Global equity markets are mixed - Dow +0.1, S 500 -0.073, FTSE -0.55%, DAX -0.07%, CAC -0.48%, Nikkei +0.67%, Shanghai -0.30%
Gold prices have edged higher, up 0.2% trading at $1,216 an ounce. .WTI Crude Oil prices have continued to push higher
up 1.2% trading at $45.03 a barrel.
ends