The AUDUSD opens at 0.7057 (mid-rate), and the NZDUSD opens at 0.6667 (mid-rate) this morning.
This afternoon’s ANZ business outlook survey which was taken before the government’s decision to scrap its capital gains tax policy, is once again expected to show a lack of confidence in the overall business outlook but should have little effect on the currency ahead of tomorrow’s quarterly employment report.
Markets have been relatively subdued with investors happy to sit on the side lines ahead of the announcement of the Federal Reserve's latest monetary policy decision on Thursday morning. With the Fed widely expected to keep interest rates unchanged the accompanying statement followed by Fed Chairman Jerome Powell's press conference are likely to dictate USD direction.
Overnight the US Commerce Department reported a smaller than expected uptick in personal income with the data showing income edged up by 0.1% following on from a 0.2% increase in February. In stark contrast the report also showed personal spending surged by 0.9% in March following a 0.1% increase in February and a 0.3% rise in January.
Euro-zone economic sentiment weakened for a tenth consecutive month in April and now sits at its lowest level since September 2016. The index now sits at 104 down from 105.6 in March and below the forecast 105 result.
Global equity markets are mixed, - Dow +0.19%, S&P 500 +0.30%, FTSE +0.17%, DAX +0.10%, CAC +0.21%, Nikkei -0.22%, Shanghai -0.77%. Gold prices are marginally lower, down 0.5% trading at $1,279 an ounce. WTI Crude Oil prices started the week on the front foot, up 0.4% trading at $66.61 a barrel.
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