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

National Backs Businesses With $10k JobStart
By: New Zealand National Party
Government Exempts Some Home Improvements From Costly Consents
By: New Zealand Government
The New Zealand Herald Named Newspaper Of The Year, Website Of The Year At Voyager Media Awards
By: New Zealand Media and Entertainment
ASB Takes The Lead Again With New Low Home Loan Interest Rate
By: ASB Bank
The Problems With Testing And Case Statistics For Covid-19
By: Nathan Hoturoa Gray
Fletcher Building to lay off 1000 staff in New Zealand
By: RNZ
Driving prompt payments to small businesses
By: New Zealand Government
On Why We Should Legally Protect The Right To Work From Home
By: Gordon Campbell
Thousands Of Kiwis Travelling For Queen’s Birthday Weekend
By: Auckland Airport
Understanding 5G Concerns – Expert Q&A;
By: Science Media Centre
Record Monthly Surplus As Imports Dive
By: Statistics New Zealand
Bar reopening night 'much, much quieter'
By: RNZ
New Zealand’s population passes 5 million
By: Statistics New Zealand
Seven Weeks Of Clearing The Air Provides Huge Benefits: Scientist
By: NIWA
Milestone In Cash Flow Support To SMEs
By: New Zealand Government
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media