NZDUSD 0.6912 0.5%
NZDEUR 0.6108 0.3%
NZDGBP 0.5247 0.7%
NZDJPY 76.01 0.6%
NZDAUD 0.9721 0.1%
NZDCAD 0.9272 0.5%
GBPNZD 1.9059 -0.7%
The NZDUSD opens at 0.6912 (mid-rate) this morning.
Commodity-linked currencies including the NZD have pushed higher against the majors with the British pound the worst
performing of the G10 currencies on Brexit concerns.
The euro clawed back some of its recent losses against the majors after Germany’s business confidence unexpectedly
strengthened in March breaking a six-month losing streak.
The ifo business confidence index increased to 99.6 from an upwardly revised 98.7 in February. Economists had expected
the index to remain unchanged from the previously reported 98.5 reading in February. The data helped lift the German
10-year yield back into positive territory with the EURUSD climbing back above 1.1325 from a session low of 1.1285.
The British pound which had been pushing higher on reports that lawmakers would hold a third vote on May’s Brexit
withdrawal agreement today, fell sharply after May admitted that there was not yet enough support to pass her deal. May
has said that she will continue to push for MP’s back her deal before holding a vote towards the end of the week.
This morning’s trade balance, the last of the economic data releases ahead of tomorrow’s monetary policy statement is
expected to show a $200m deficit following on from January’s $914 deficit.
Global equity markets are broadly lower, - Dow -0.10, S 500 -0.14, FTSE -0.42%, DAX -0.15%, CAC -0.18%, Nikkei -3.01%, Shanghai -1.97%.
Gold prices are pushing higher, up 0.7% trading at $1,322 an ounce. WTI Crude Oil prices are unchanged, trading at
$59.29 a barrel.
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