The Opening Bell: Where currencies start on Monday, July 1, 2019

The Opening Bell: Where currencies start on Monday, July 1, 2019

By the XE Corporate team

The NZDUSD opens at 0.6720 (mid-rate) this morning.

The NZD and AUD have gapped higher on the open this morning after President Donald Trump said negotiations are "back on track" following his meeting with Chinese President Xi Jinping at the G20 summit in Japan on Saturday.

Trump described his meeting with Xi as "excellent, as good as it was going to be" and "we're right back on track," and announced that he will not follow through on threats to raise tariffs, at least for the time being. Previously trump had threatened that he could add tariffs to a further $350 billion worth of Chinese imports.

Friday’s University of Michigan consumer sentiment index reading for the month of June was upwardly revised to 98.2 from 97.9 marginally ahead of the expected 98.0 outcome.

The highlight for the NZD over the course of the week will be tomorrow’s NZIER Business Confidence data release with investors also looking to the RBA’s monthly monetary policy statement for NZDAUD direction.

Global equity markets closed out the quarter mixed, - Dow +0.28%, S&P 500 +0.57%, FTSE +0.31%, DAX +1.04%, CAC +0.83%, Nikkei -0.29, Shanghai -0.60%.

Gold prices were unchanged on Friday closing out the quarter at $1,409 an ounce. WTI Crude Oil prices fell sharply on Friday, down 1.6%%  closing out the quarter at $58.52 a barrel.

Current indicative rates:

NZDUSD 0.6720 -0.1%
NZDEUR  0.5915 -0.4%
NZDGBP 0.5291 -0.1%
NZDJPY 72.65 -0.4%
NZDAUD 0.9561 0.5%
NZDCAD 0.8792 0.2%
GBPNZD 1.8900 0.1%

Upcoming Data Releases (NZT):

  • no local data today

 

 

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.