The Opening Bell: Where currencies start on Tuesday, March 26, 2019

The Opening Bell: Where currencies start on Tuesday, March 26, 2019

By the XE Corporate team

The NZDUSD opens at 0.6912 (mid-rate) this morning.

Commodity-linked currencies including the NZD have pushed higher against the majors with the British pound the worst performing of the G10 currencies on Brexit concerns.

The euro clawed back some of its recent losses against the majors after Germany’s business confidence unexpectedly strengthened in March breaking a six-month losing streak.

The ifo business confidence index increased to 99.6 from an upwardly revised 98.7 in February. Economists had expected the index to remain unchanged from the previously reported 98.5 reading in February. The data helped lift the German 10-year yield back into positive territory with the EURUSD climbing back above 1.1325 from a session low of 1.1285.

The British pound which had been pushing higher on reports that lawmakers would hold a third vote on May’s Brexit withdrawal agreement today, fell sharply after May admitted that there was not yet enough support to pass her deal. May has said that she will continue to push for MP’s back her deal before holding a vote towards the end of the week.

This morning’s trade balance, the last of the economic data releases ahead of tomorrow’s monetary policy statement is expected to show a $200m deficit following on from January’s $914 deficit.

Global equity markets are broadly lower, - Dow -0.10, S&P 500 -0.14, FTSE -0.42%, DAX -0.15%, CAC -0.18%, Nikkei -3.01%, Shanghai -1.97%.

Gold prices are pushing higher, up 0.7% trading at $1,322 an ounce. WTI Crude Oil prices are unchanged, trading at $59.29 a barrel.

Current indicative rates:

NZDUSD 0.6912 0.5%
NZDEUR  0.6108 0.3%
NZDGBP 0.5247 0.7%
NZDJPY 76.01 0.6%
NZDAUD 0.9721 0.1%
NZDCAD 0.9272 0.5%
GBPNZD 1.9059 -0.7%

Upcoming Data releases (NZST):

  • 10:45 - Trade Balance

 

 

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.