The Opening Bell: Where currencies start on Monday, April 16, 2018

By Dan Bell

The NZDUSD opens at 0.7358 (mid-rate) this morning.

Markets were subdued on Friday with an absence of tier one economic data and growing concerns over the situation in Syria keeping investors on the side lines.

Markets were closed, and have so far shown little reaction to the news that the defence forces of the US, UK and France, jointly launched a military attack targeting Syria's chemical weapons capabilities.

On Friday the University of Michigan released its preliminary reading on the consumer sentiment index for April. The reading which had been expected to edge down to 100.5 from March’s final reading of 101.4 (a fourteen year high) came in at a disappointing 97.8.

Germany's consumer price inflation printed in line with expectations, with the Destatis report showing Inflation rose to 1.6% in March up from 1.4% in February.

The domestic highlight for the NZD week will be Thursday’s quarterly inflation report, with economists currently predicting Q1 CPI will increase by 0.5% q/q.

Global equity markets closed out the week mixed on Friday, - Dow -0.50%, S&P 500 -0.28%, FTSE +0.09%, DAX +0.22%, CAC +0.11%, Nikkei +0.55%, Shanghai -0.66%.

Gold prices pushed higher on Friday up 0.7% closing out the week at $1,345 an ounce, WTI Crude Oil prices edged higher on Friday, closing out the week at $67.33 a barrel, for a weekly gain of 8%.

Current indicative rates:

NZDUSD 0.7358 -0.3%
NZDEUR  0.5962 -0.4%
NZDGBP 0.5162 -0.5%
NZDJPY 79.09 0.0%
NZDAUD 0.9465 -0.5%
NZDCAD 0.9271 -0.2%
GBPNZD 1.9373 0.5%

Upcoming Data releases (NZST):

  • 10:45 - FPI 

 

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

Email:  

Dan Bell is the senior currency strategist 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 or click on the "Register" link below a 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.