NZDUSD 0.6802 -0.2%
NZDEUR 0.6016 0.0%
NZDGBP 0.5164 -0.2%
NZDJPY 76.07 -0.1%
NZDAUD 0.9598 -0.1%
NZDCAD 0.9073 -0.1%
GBPNZD 1.9365 0.2%
The NZDUSD fell overnight as the USD climbed after better-than-forecast data on the US services industry and new
single-family home sales eased concerns about the strength of the US economy.
Milk prices climbed while volumes dropped at Fonterra’s first Global Dairy Trade auction of the month. The GDT index
rose 3.3%, while prices for major Whole Milk Powder category surged 6.0%.
The AUD rose a little after the Reserve Bank of Australia left the cash rate unchanged (1.5%) yesterday and clung to a
relatively upbeat outlook, despite recent softer data. The RBA’s central forecast is for the Australia economy to grow
at 3.0% in 2019. The NZDAUD dipped in response.
RBA governor Lowe is due to give a speech titled “The Housing Market and the Economy” this morning, followed by the
eagerly anticipated Q4 GDP release.
The GBP fell on speculation few UK lawmakers would back Prime Minister Theresa May’s proposed Brexit deal, and there was
little progress in talks with the EU.
The CAD weakened due to a combination of trade troubles with China, political scandal, and expectation that Bank of
Canada may be getting close to reverse interest rate policy direction and begin to cut rates.
There is no data scheduled on the NZ calendar today.
Global equity markets were mostly higher on the day - Dow +0.4%, S 500 -0.3%, FTSE +0.7%, DAX +0.2%, CAC +0.2%, Nikkei -0.4%, Shanghai +0.9%.
Gold prices are fell 0.1% to USD$1,285 an ounce, while WTI Crude Oil prices rose 0.1% to US$56.59 per barrel.
ends