The Opening Bell: Where currencies start on Friday, February 22, 2019

By the XE Corporate team

The NZD opens down at 0.6802.

All the headlines were out of Australia yesterday afternoon, with the Kiwi just being dragged along for the ride. First up their Employment data came in strong at a net 39k Jobs added. This saw the AUD pop half a percent, and things were looking good. The move was quickly reversed back to where we started on a report from Westpac Australia predicting two rate cuts by the end of the year. Following from this, news came out of China that one of their ports, the Dalian port, had banned coal imports from Australia. The ban is indefinite at this stage, with the worry being it is only going to escalate trade tensions even further.

A string of reasonably poor US manufacturing data last night helped stem some of the fall. Not Tier 1 data, but does not help the overall US growth picture.

Brexit talks continue out of Brussels, with conflicting headlines as to the success of them. The UK PM’s spokesman said they “Have been making progress.” The fact that they can’t even say they are making good progress probably tells more of the real story.

The RBA’s Lowe has a 3 hour speech from 11:30 this morning, with a lot of Fed speakers as well overnight. Any market moves out of that lot though would be relatively surprising.

Global equity markets are inching higher, - Dow -0.32%, S&P 500 -0.26%, FTSE -0.85%, DAX +0.19%, CAC +0.00%, Nikkei +0.15%, Shanghai -0.34%.

Gold prices are off, down -1.2% at $1,328 an ounce. WTI Crude Oil prices follow the trend, also down -0.8% trading at $56.85 a barrel.

Current indicative rates:

NZDUSD 0.6802 -1.1%
NZDEUR  0.6004 -0.7%
NZDGBP 0.5217 -0.8%
NZDJPY 75.36 -0.9%
NZDAUD 0.9607 0.3%
NZDCAD 0.8984 -0.7%
GBPNZD 1.9167 0.8%

 

 

 

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 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.