Print this page

XE Update Tuesday, 20 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 0.6838 (mid-rate) this morning.

NZDUSD 0.6838 -0.4%NZDEUR 0.5969 -0.8%NZDGBP 0.5315 -0.7%NZDJPY 76.88 -0.6%NZDAUD 0.9375 -0.2%NZDCAD 0.9015 -0.2%GBPNZD 1.8815 0.7%

An increase in US-China tensions following the weekend’s Asia Pacific Economic Cooperation (APEC) summit has seen the NZD retreat from last week’s highs and led to a further sharp fall in US equity markets. For the first time in its 29 years, the 21-member APEC group was unable to issue a joint communique at the conclusion of the summit. It is understood that China and the US failed to see eye-to-eye on reform of the World Trade Organisation and not surprisingly were at loggerheads over tariffs, intellectual property and artificial intelligence. The increase in US- China tensions is a concern for investors with US President Donald Trump and his Chinese counterpart Xi Jinping due to attend the G20 summit in Argentina later this month. Overnight the US National Association of Home Builders reported a sharp fall in US homebuilder confidence with the index plummeting to 60 in November after hitting 68 in October. Economists had expected the index to edge down to 67, the index is now sitting at its lowest level since August 2016. Brexit-related concerns has seen confidence among British businesses sink to its lowest level in 9-years, with Markit reporting the net balance of firms anticipating a rise in business activity in the next 12 months was +32, down from +39 in June. The RBA monetary policy meeting minutes will dictate NZDAUD direction during our trading day, while overnight tonight farmers will be hoping global dairy prices can stop the rot, following 6 consecutive falls in the index. Global equity markets are mixed, - Dow -1.63%, S&P 500 -1.61%, FTSE -0.19%, DAX -0.85, CAC -0.79%, Nikkei +0.65%, Shanghai +0.91%. Gold prices are unchanged trading at $1,221 an ounce. WTI Crude Oil prices are down a further 0.4% trading at $56.46 a barrel.

Upcoming Data releases (NZST):  -  13:30 - RBA Monetary Policy Meeting Minutes

____________________________

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