Print this page

XE Update Thursday 29 November, 2018

  • font size decrease font size decrease font size increase font size increase font size

Daily Market Update From XE:   The NZDUSD opens at 0.6879 (mid-rate) this morning.

NZDUSD 0.6879 1.3%NZDEUR 0.6045 0.6%NZDGBP 0.5358 0.6%NZDJPY 78.11 1.1%NZDAUD 0.9398 -0.1%NZDCAD 0.9115 1.0%GBPNZD 1.8664 -0.6%

The US dollar tumbled and US equities have spiked higher in reaction to remarks by Federal Reserve Chairman Jerome Powell. Powell while addressing the Economic Club of New York noted interest rates although still low by historical standards, are currently “just below the broad range of estimates of the level that would be neutral for the economy." The comments are starkly different in comparison to the October Fed minutes when interest rates were described as being “a long way from neutral.” Market reaction to the comments has been both swift and severe with the dollar index currently down 0.75% and the Dow up 2.0%. Powell also described the economy as being close to achieving both of the Fed's objectives of promoting maximum employment and price stability and that rates are not on a "preset" path with the central bank paying close attention to incoming data. Overnight the bank of England warned that a "disorderly Brexit" could shrink the UK economy by 8% and that the GBP could fall by 25%. The central bank was quick to stress that these are scenarios not forecasts and represent a worst-case scenario. Global equity markets are mixed, - Dow +1.70%, S&P 500 +1.55%, FTSE -0.18%, DAX -0.09%, CAC -0.00%, Nikkei +1.02%, Shanghai +1.05%. Gold prices are up 0.7% trading at $1,221 an ounce. WTI Crude Oil prices are rising, , currently up 1.5% trading at $51.78 a barrel..

Upcoming Data releases (NZST):  - 13:00 - ANZ Business Confidence


How much does your FX cost you?

For a Free No Obligation Personal or Business Account in just a few minutes, please “click here”

We are partners of MSCNewsWire and assist many of their readers, partners and clients to manage their foreign exchange requirements more effectivly and effciently.  Benefits that our clients receive include: 

√  Better Exchange rates √  No TT fees√  Access to ur global payment network√  24/7 online platform and a personal dealer

As  NZ's largest non-bank FX provider and "The World's Trusted Currency Authority"  we can quickly and simply provide you a Free and No Obligation alternative to work alongside your existing bank relationship.

If you would like to discuss please feel free to contact Doug Warren from the XE team anytime:

Freephone: 0800 394 439 Mobile: 021 565 241 Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

  • Source: A XE release