NZDUSD 0.6521 -0.1%
NZDEUR 0.5924 -0.1%
NZDGBP 0.5011 -0.2%
NZDJPY 71.16 -0.1%
NZDAUD 0.9665 -0.1%
NZDCAD 0.8607 0.0%
GBPNZD 1.9956 0.2%
The NZDUSD opens at 0.6521 (mid-rate) this morning.
This morning’s FOMC has been the main focus for investors over the past 24 hours and as such both currency and equity
markets have traded tight ranges.
With the Federal Reserve widely expected to reiterate the current policy is “appropriate” it will be comments regarding
the balance sheet and any decision by the Fed to increase the IOER that will grab the headlines. There is a growing
expectation that the Fed will increase the Interest on Excess Reserves (IOER) by 5bps from 1.55% to 1.60%.
Earlier this morning the European Parliament overwhelmingly backed the terms of the UK's departure from the EU. Now
begins an 11-month transition period in which the two sides hope to negotiate their future economic relationship. Trade
talks are expected to begin in early March with the UK insisting talks should not be extended beyond 31 December 2020.
Global equity markets remain mixed, - Dow +0.43%, S 500 +0.30%, FTSE +0.04%, DAX +0.16%, CAC +0.49%, Nikkei +0.71%, Shanghai -2.75%
Gold prices are unchanged trading at $1,569 an ounce. WTI Crude Oil prices are holding steady at 53.36 a barrel.
ends