HiFX Morning Update, November 17, 2017
The NZDUSD opens lower at 0.6858 this morning.
The USD strengthened overnight after the US House of Representatives passed a comprehensive package of tax cuts for
individuals, families and companies.
The USD also benefited from comments from the US Fed’s Kaplan who said the US economy is at or near full employment,
inflation is still lagging but building, and he is ‘actively thinking’ about further removing monetary policy
accommodation. Overnight US economic data was solid.
Bank of England Governor Carney said the Brexit vote has harmed the UK economy. Carney stated “we have gone from the
fastest growing economy in the G& to one of the slowest. Goldman Sachs chief Lloyd Blankfein suggested a 2nd referendum on Brexit to make sure the
consensus still there. The GBP performed well nevertheless.
Closer to home, yesterday’s Australian employment data was mixed.
Global equity markets were higher on the day – Dow +0.9%, S, FTSE +0.2%, DAX +0.6%, CAC +0.7%, Nikkei +1.5%, Shanghai -0.1%,
Gold prices is little changed at USD$1,277.61 an ounce. Oil prices (WTI) fell marginally to USD$55.24 per barrel.
Have a nice weekend.
ends