The NZDUSD opens higher at 0.6837 this morning.
The USD weakened overnight, which pushed the NZDUSD higher, ahead of and during a meeting between European Commission President Jean-Claude Juncker and US President Donald Trump. Their talks are focused on the brewing trade tensions between the EU and US.
*** Breaking News *** It has just been reported the US has secured some trade concessions from the EU. Precise details yet to be released.
Yesterday’s NZ June Trade Balance disappointed ($113mio deficit versus $200 surplus forecast) – the NZD dipped a little as a consequence.
The AUD fell after Australian Q2 CPI data showed inflation remains stubbornly low – there were modest upward revisions to Q1’s numbers.
The GBP rose on the news Prime Minister Theresa May’s office will now lead the Brexit negotiations, and not the dedicated Brexit ministry. This is expected to make it easier to agree divorce details with the EU.
There is no data scheduled for release on the domestic calendar today. Overnight, the European Central bank has an interest rate policy setting meeting and the US releases durable good figures, amongst others.
Global equity markets were mixed on the day – Dow +0.1%, S&P500 +0.4%, FTSE -0.7%, DAX -0.9%, CAC -0.1%, Nikkei +0.5%, Shanghai -0.1%.
Gold prices gained 0.6% to USD$1,232 an ounce. Oil prices (WTI) jumped 1.1% to USD$69.25 per barrel.
Current indicative rates:
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