By the XE Corporate team
The NZDUSD opens at 0.6763 (mid-rate) this morning.
Risk appetite returned on Friday with optimism over US-China trade deal along with upbeat earnings reports from both JP Morgan Chase and Wells Fargo and easing worries over Brexit contributing to the positive mood.
Earlier in the day China’s March trade surplus surged past expectations with exports for the month of coming in much higher and imports coming in much lower than expected, resulting in a 221B (vs exp 2.0B) surplus.
The NZDUSD is back above 0.6750 with the USD slipping lower after the University of Michigan preliminary consumer sentiment report showed the index fell 96.9 in April from the final March reading of 98.4. Economists had expected the index to edge down to 98.0.
The key domestic driver for the NZD ahead of the Easter break will be Wednesday’s quarterly inflation report. Current market consensus is for Q1 CPi to increase by 0.3% after inching up by 0.1% in Q4.
Global equity market closed out the week higher, – Dow +1.03%, S&P 500 +0.66%, FTSE +0.26%, DAX +0.54%, CAC +0.31%, Nikkei +0.73%, Shanghai -0.04%.
Gold prices slipped lower on Friday, down 0.3% closing out the week at $1,290 an ounce. WTI Crude Oil prices pushed higher on Friday, up 0.7% closing at $64.02 a barrel.
Current indicative rates:
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Marcus Phillips is the Affiliate manager at xe money transfer in Auckland. You can contact him here »