NZDUSD 0.6402 -0.5%
NZDEUR 0.5748 -0.3%
NZDGBP 0.4969 -0.2%
NZDJPY 69.55 -0.1%
NZDAUD 0.9295 -0.1%
NZDCAD 0.8418 -0.5%
GBPNZD 2.0125 0.2%
The NZDUSD opens at 0.6402 (mid-rate) this morning.
Wall Street posts new record highs with US Commerce Secretary Wilbur Ross’s comments adding to US-China trade talk
optimism.
Ross described the phase one agreement as "particularly complicated" but said "we're in good shape, we're making good
progress”, and there's no natural reason why it couldn't be signed this month. Ross also said licenses for US firms to
sell components to China's Huawei Technologies would be coming "very shortly."
The Dow, Nasdaq and S are all up circa 0.5% but have given back some of their gains as we approach the New York close.
The EUR received a welcome boost overnight after Markit data showed the Euro-zone manufacturing sector shrank slightly
less than initially forecast in October and investor confidence spiked to its highest level since June, in November.
The investor confidence index for Euro-zone climbed to -4.5 from -16.8 in October, well ahead of forecast a score of
-13.8.
The NZD pushed higher yesterday afternoon as investors pared back their expectations of a 25bps rate cut from the RBNZ
and next weeks meeting. The market which had been pricing in an 85% chance of a cut in November is now pricing in a 50%
chance with Westpac economists now pushing out their cut expectations till February 2020.
This afternoon the RBA are expected to keep their OCR unchanged at 0.75%.
Global equity markets are on the front foot, - Dow +0.52%, S 500 +0.49%, FTSE +0.79%, DAX +1.35%, CAC +0.45%, Nikkei Closed, Shanghai +0.58%
Gold prices are marginally higher, up 0.3% trading at $1,509 an ounce. WTI Crude Oil prices are up 1.2%, trading at
$56.96 a barrel.
ends