INDEPENDENT NEWS

XE Morning Update

Published: Fri 20 Sep 2019 09:28 AM
The NZD opens at 0.6302
The Kiwi has drifted off, despite local GDP data coming in slightly better than expected at 0.5% q/q. As is often the case these days, global sentiment dominated, with comments from Trump's advisor, that Trump is ready to escalate the trade war if there is no deal. These days the market is getting a little desensitised to this, but with good manufacturing data also out of the US, it was enough for the USD to catch a bid.
The AUD on the other hand has had a harder time of it as the Australian unemployment rate ticked up to 5.3%. The currency has come down a fairly long way over the past few years, even as the unemployment rate has dropped. You would hate to see what would happen to it in an employment crisis…
Out of the UK, we have some positive news. The EU’s Junker has come out saying “We can have a deal”, and the market has run with it, bringing the GBP to amongst the strongest performers. The GBP/NZD rate is closing in on 2.0000:1 for the first time since May, and then it only peeped above intraday, before selling back down to 1.8300. This has now become a strong resistance level, and some holders of Sterling will be looking to takes their gains now, rather than taking the risk into October 31st.
Global equity markets remain mixed, - Dow -0.19%, S 500 +0.10%, FTSE +0.58%, DAX +0.55%, CAC +0.68%, Nikkei +0.38%, Shanghai +0.46%.
Gold prices are little changed trading at $1,1506 an ounce. WTI Crude Oil prices are up 1.1% currently trading at $58.32 a barrel.

Next in Business, Science, and Tech

Official Cash Rate unchanged at 1 percent
By: Reserve Bank
Avocados at lowest price in almost three years
By: Statistics New Zealand
Auckland port move: Cabinet ministers deliberate on decision
By: RNZ
Dead rats washed up on beaches sent for toxicology testing
By: RNZ
Reserve Bank predicts further economic slowdown
By: New Zealand National Party
Reserve Bank gets it right by keeping OCR steady
By: ACT New Zealand
XE Data Update - RBNZ Official Cash Rate decision
By: XE Money Transfer
Moving port will cost Government, consumers and environment
By: National Road Carriers
Caution urged over rat carcasses on beach
By: Department of Conservation
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media