The AUDUSD opened higher at 0.7085, the NZD USD opens higher at 0.6871 this morning.
Yesterday’s Australian Home Loans and Business Confidence data disappointed, which helped nudge the NZD AUD towards the 0.9700 level. NZ Food Price Index hits the wires at 10:45am today – not likely to be a market-over.
The GBP fell in volatile trading after the UK’s attorney general, the Rt Hon. Geoffrey Cox, said despite ‘binding’ assurance from EU, Britain could still be permanently locked into the Northern Ireland ‘backstop’.
The UK parliament has just voted down Prime Minister May’s Brexit latest withdrawal agreement. They will be another vote on Wednesday on whether to leave the EU without a deal, otherwise known as a "hard Brexit". If that fails, parliament will vote on Thursday on whether to extend the Brexit deadline, or possibly hold another referendum.
The NZD USD and AUD USD made gains overnight as the USD slipped after tame US inflation data supported the Fed’s ‘patient’ stance on further interest rate hikes.
US CPI (consumer price index) rose a modest 0.2% in February, while the ‘core’ CPI (which excludes volatile food and energy components) edged up 0.1% - the smallest rise in August 2018. The annual CPI gain was 1.5%, which is the smallest rise in nearly 2 ½ years.
US-China trade talks continue to make headway, although a final agreement, assuming one will be reached, is still likely weeks away.
Global equity markets were mostly higher on the day - Dow -0.2%, S&P 500 +0.5%, FTSE +0.3%, DAX -0.2%, CAC +0.1%, Nikkei +1.8%, Shanghai +1.1%. Gold prices gained 0.6% to USD$1,299 an ounce, while WTI Crude Oil prices rose 0.3% to US$56.74 per barrel.
The information, materials, accompanying literature and documentation available on our internet site is for information purposes only and is not intended as a solicitation for funds or a recommendation to trade. XE, its officers, employees and representatives accept no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information.
While we take reasonable care to keep the information on the website accurate and up to date, there may be occasions when this is not possible. Case Studies and articles are not intended to predict future moves in exchange rates or constitute advice.
XE makes no representations, warranties, or assurances as to the accuracy or completeness of any information derived from third party sources. If you are in any doubt as to the suitability of any foreign exchange product that you are intending to purchase from XE, we recommend that you seek independent financial advice first.
For more information about XE, please click here: Regulatory Information