The Opening Bell: Where currencies start on Monday, February 4, 2019

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By the XE Corporate team

The NZDUSD opens at 0.6892 (mid-rate) this morning.

Upbeat US economic data releases has helped support markets and pushed US Treasury yields higher.

Friday’s US employment and manufacturing data reports were standout performers with the Labour Department reporting non-farm payroll employment surged up by 304K jobs in January well ahead of the expected 165k jobs increase, while growth in US manufacturing activity unexpectedly accelerated in the month of January.

The ISM purchasing managers index climbed to 56.6 in January from a revised 54.3 in December. Economists had expected the manufacturing index to inch down to 54.0 from 54.1 originally reported for the previous month.

Although the headline employment number was well ahead of expectations December’s previously reported 312k increase was downwardly revised to 222K.

Both two-year and ten-year Treasury yields increased by 5.8 basis points  to 2.52% and 2.69% respectively.

The key domestic driver for the NZD this week will be Thursday’s quarterly employment report. Current expectations are for employment to increase by 0.3% following on from Q3’s surprise 1.1% spike.

Global equity market closed out the week marginally higher, – Dow +0.26%, S&P 500 +0.08%, FTSE +0.74%, DAX +0.07%, CAC +0.53%, Nikkei +0.07%, Shanghai +1.30%.

Gold prices edged lower Friday, closing out the week at $1,317 an ounce. WTI Crude Oil prices rallied strongly on Friday up 3.5% trading at $55.55 a barrel.

Current indicative rates:

NZDUSD0.6892-0.3%
NZDEUR 0.6015-0.4%
NZDGBP0.5265-0.1%
NZDJPY75.510.4%
NZDAUD0.9505-0.1%
NZDCAD0.9025-0.7%
GBPNZD1.89930.1%

Upcoming Data releases (NZST):

  • 10:45 – Building Consents m/m

 

 

 

 

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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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