The Opening Bell: Where currencies start on Friday, June 7, 2019

The Opening Bell: Where currencies start on Friday, June 7, 2019

By the XE Corporate team

The NZD opens up at 0.6631.

Pretty quiet overnight, with the US driving things, and the Kiwi firmly in the passenger seat. Trade talks between the US and Mexico were reported to be going well, which lead to some initial “risk-on” moves globally. As is often the case with reports on trade talks though, they can and do get refuted often, as was the case here. Anyone else get the feeling Trump is day trading stocks?

The ECB’s Draghi came out of Europe keeping Interest rates unchanged, and signalled they will remain at the present levels at least for another year. He is generally very dovish, but wasn’t quite as bad this time, leading to the EUR getting a bit of a boost.

Overnight we have a lot of US Employment data. The Unemployment Rate is always closely watched, however this time Non-Farm employment change will have all eyes on it. We just had the ADP Non-Farm figures on Wednesday night, which was a really poor number at only 27k increase in employment. The ADP is somewhat of a leading indicator, so tonight’s 180k expected increase in jobs is in doubt. Therefore even if you get a middling number of say 150k, don’t be surprised if the market actually rallies on it.

Global equity markets are up- Dow +0.97%, S&P 500 +0.75%, FTSE +0.55%, DAX -0.23%, CAC -0.26%, Nikkei -0.01%, Shanghai -1.17%.

Gold prices rose 0.4% to $1,339 an ounce. WTI Crude Oil prices bounced back 2.4% to US$52.99 per barrel.

Current indicative rates:

NZDUSD 0.6631 0.2%
NZDEUR  0.5876 -0.3%
NZDGBP 0.5219 0.1%
NZDJPY 71.89 0.2%
NZDAUD 0.9494 0.1%
NZDCAD 0.8858 -0.2%
GBPNZD 1.9155 -0.1%

Upcoming Data Releases (NZT):

  • 00:30 US unemployment rate, Non-Farm Employment Change

 

 

To subscribe to our free daily Currency Rate Sheet and News email, enter your email address here.

Email:  

Marcus Phillips is the Affiliate manager at xe money transfer in Auckland. You can contact him here »

Daily exchange rates

Select chart tabs »

The 'US$' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The 'AU$' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The 'TWI' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The '¥en' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The '¥uan' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The '€uro' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The 'GBP' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The 'Bitcoin' chart will be drawn here.
Loading...
USD 
NZD
End of day UTC
Source: CoinDesk

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

We welcome your comments below. If you are not already registered, please register to comment.

Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.