The Opening Bell: Where currencies start on Friday, July 13, 2018

By Dan Bell

The NZD opens at 0.6771 this morning.

Markets generally shrugged off news of Trumps $200 Billion tariff increase yesterday, with China’s lack of reciprocal escalation (so far) helping to calm markets.

US Monthly CPI came in at 0.1%, slightly missing the 0.2% expected. This is a monthly figure though, so can tend to be a touch more volatile, leading to more muted responses. Even so, this helped to arrest some of the recent slide in the Kiwi.

Fairly light data on the calendar, with the Chinese Trade Balance expected to big the biggest mover. The timing on its release however, is still tentative at this stage.

Global equity markets are actually quite buoyant,  Dow 0.86%, S&P 500  0.79%, FTSE  0.78%, DAX 0.61%, CAC 0.97%, Nikkei 1.17%, Shanghai 2.16%.

Gold prices are up slightly, trading at $1,247 an ounce WTI Crude Oil prices have stabilised a touch, trading at $70.23 a barrel.

Current indicative rates:

NZDUSD 0.6771 0.1%
NZDEUR  0.5803 0.2%
NZDGBP 0.5126 0.1%
NZDJPY 76.17 0.5%
NZDAUD 0.9147 -0.2%
NZDCAD 0.8917 -0.1%
GBPNZD 1.9507 -0.1%

 

 

 

 

 

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Dan Bell is the senior currency strategist at xe money transfer in Auckland. You can contact him here »

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USD 
NZD
End of day UTC
Source: CoinDesk

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