The Opening Bell: Where currencies start on Tuesday, April 30, 2019

The Opening Bell: Where currencies start on Tuesday, April 30, 2019

By the XE Corporate team

The NZDUSD opens at 0.6667 (mid-rate) this morning.

Markets have been relatively subdued with investors happy to sit on the side lines ahead of the announcement of the Federal Reserve's latest monetary policy decision on Thursday morning. With the Fed widely expected to keep interest rates unchanged the accompanying statement followed by Fed Chairman Jerome Powell's press conference are likely to dictate USD direction.

Overnight the US Commerce Department reported a smaller than expected uptick in personal income with the data showing income edged up by 0.1% following on from a 0.2% increase in February. In stark contrast the report also showed personal spending surged  by 0.9% in March following a 0.1% increase in February and a 0.3% rise in January.

Euro-zone  economic sentiment weakened for a tenth consecutive month in April and now sits at its lowest level since September 2016. The index now sits at 104 down from 105.6 in March and below the forecast 105 result.

This afternoon’s ANZ business outlook survey which was taken before the government’s decision to scrap its capital gains tax policy, is once again expected to show a lack of confidence in the overall business outlook but should have little effect on the currency ahead of tomorrow’s quarterly employment report.

Global equity markets are mixed, - Dow +0.19%, S&P 500 +0.30%, FTSE +0.17%, DAX +0.10%, CAC +0.21%, Nikkei -0.22%, Shanghai -0.77%.

Gold prices are marginally lower, down 0.5% trading at $1,279 an ounce. WTI Crude Oil prices started the week on the front foot, up 0.4% trading at $66.61 a barrel.

Current indicative rates:

NZDUSD 0.6667 0.2%
NZDEUR  0.5962 -0.1%
NZDGBP 0.5155 0.1%
NZDJPY 74.51 0.4%
NZDAUD 0.9449 -0.1%
NZDCAD 0.8962 0.1%
GBPNZD 1.9399 -0.1%

Upcoming Data releases (NZST):

  • 13:00 - ANZ Business Confidence
              - CNY Manufacturing PMI

 

 

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Marcus Phillips is the Affiliate manager 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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