The Opening Bell: Where currencies start on Monday, January 21, 2019

The Opening Bell: Where currencies start on Monday, January 21, 2019

By the XE Corporate team

The NZDUSD opens at 0.6751 (mid-rate) this morning.

Global equity markets along with the USD pushed higher on Friday as optimism that the US and China are making progress towards agreeing a new trade deal grew.

Following a Wall Street Journal report on Thursday which said that the US are considering lifting tariffs on Chinese goods in a goodwill effort to give China a reason to make deeper concessions in ongoing trade talks, Bloomberg reported on Friday that according to an official familiar with the negotiations China will seek to reduce its trade surplus with the US  by increasing annual goods imports by a combined value of more than $1 trillion.

The weekend’s US economic data releases delivered mixed results with industrial production for the month of December printing slightly better than expected, with increases in manufacturing and mining output more than offsetting a pullback in utilities output, while consumer sentiment in January fell to its lowest level since October 2016.

Overnight tonight UK Prime Minister Theresa May will launch a fresh bid to win support for her rejected Brexit deal by trying to bypass the European Union and secure a bilateral Brexit treaty with Ireland. Under the new proposal the UK would try to convince the Irish government to negotiate a treaty that would remove the need for the backstop and would see the UK enter into a temporary customs union with the EU while Northern Ireland would agree to abide by European rules on goods until a subsequent deal was reached.

The key driver for the NZD during our trading will be Wednesday’s Q4 inflation report which is expected to come in flat following on from Q3’s 0.9% increase.

Global equity markets are largely negative, Dow -0.37%, S&P 500 -0.48%, FTSE -0.91%, DAX -0.29%, CAC -0.39%, Nikkei +0.97%, Shanghai -0.71%.

Gold prices are little changed trading at  $1,290 an ounce. WTI Crude Oil prices have edged lower, down 0.6% trading at $51.62 a barrel.

Current indicative rates:

NZDUSD 0.6751 -0.5%
NZDEUR  0.5945 -0.7%
NZDGBP 0.5245 0.5%
NZDJPY 74.02 -0.2%
NZDAUD 0.9409 0.1%
NZDCAD 0.8958 -0.3%
GBPNZD 1.9066 -0.5%

Upcoming Data releases (NZST):

  • 15:00 - CNY GDP

 

 

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.