NZDUSD 0.6728 -0.3%
NZDEUR 0.5919 -0.4%
NZDGBP 0.5218 -0.5%
NZDJPY 73.75 -0.4%
NZDAUD 0.94 -0.1%
NZDCAD 0.8945 -0.1%
GBPNZD 1.9164 0.5%
It’s been a subdued start to the trading week with the US enjoying a long weekend however the NZD remains under pressure
ahead of tomorrow morning’s inflation report.
There was little reaction to yesterday afternoon’s China data with Q4 growth hitting 6.4% y/y (in line with
expectations). The rate of growth was marginally slower than the 6.5% expansion recorded in Q3 and puts full-year growth
for 2018 at 6.6%, the slowest annual pace of expansion since 1990.
On a more positive note China’s industrial production and retail sales reports for the month of December exceeded
expectations with Industrial production increasing by 5.7% y/y (exp +5.3%) and retail sales rising by 8.2% y/y (exp
+8.1%).
This morning British Prime Minister Theresa May rejected calls to delay the UK's departure from the European Union, and
said her Plan B was to have Parliament approve her Brexit agreement after securing changes to a contentious Irish border
measure. May said she had “heeded lawmakers' concerns over the Irish backstop," and said she will be "talking further
this week to colleagues ... to consider how we might meet our obligations to the people of Northern Ireland and Ireland
in a way that can command the greatest possible support in the House." Lawmakers are due to vote on May's Plan B and any
possible amendments on the 29th January.
Global equity markets are mixed, Dow Closed, S 500 Closed, FTSE +0.03, DAX -0.62%, CAC -0.17%, Nikkei +0.26%, Shanghai +0.56%.
Gold prices are unchanged trading at $1,280 an ounce. WTI Crude Oil prices are have inched higher, up 0.4% trading at
$54.23 a barrel.
ends