NZDUSD 0.6587 -0.1%
NZDEUR 0.5865 -0.1%
NZDGBP 0.5069 0.1%
NZDJPY 72.31 0.1%
NZDAUD 0.9421 -0.1%
NZDCAD 0.8843 -0.4%
GBPNZD 1.9728 -0.1%
The NZDUSD opens at 0.6587 (mid-rate) this morning.
Markets have had a muted reaction to the escalating US-China trade dispute, which intensified on Friday after Donald
Trump made good his threat to raise tariffs on $200 billion worth of Chinese goods from 10% to 25%. US equity markets
which had gapped lower on the open rebounded during the trading day and closing out the day with a small gain.
Markets are likely remain nervous while waiting for China to react, following US tariffs imposed earlier this year China
reacted by raising duties on $110 billion of American imports.
Post the market close Trump tweeted that there is "absolutely no need to rush" to reach a trade agreement with China and
that the process has begun to place tariffs on the remaining $325 billion worth of Chinese imports.
The weekend’s economic data releases were largely overshadowed by the tariff news and the US CPI report which is closely
monitored by investors and on this occasion fell just shy of economist’s estimates had little effect on the markets.
The Labour Department reported its consumer price index rose by 0.3% in April after increasing by 0.4% in March, core
CPI which excludes food and energy prices inched up by 0.1% for the third month in a row.
With little in the way of domestic data releases over the course of the week direction for the NZD will be dictated by
offshore news.
Global equity markets closed mixed on Friday, - Dow +0.44%, S 500 +0.37%, FTSE -0.06%, DAX +0.72%, CAC +0.27%, Nikkei -0.27, Shanghai +3.10%.
Gold prices were unchanged on Friday closing out the week at $1,285 an ounce. WTI Crude Oil prices edged higher on
Friday, up 0.4% closing at $61.80 a barrel.
ends