By the XE Corporate team
The NZDUSD opens higher at 0.6821 this morning.
The NZDUSD was pushed back above the 0.6800 level overnight after mixed US retail sales data hurt the USD.
US retail sale for January rose 0.2%, comfortably beating expectations of 0.0%, however, December’s figures were revised 0.4% lower to -1.6%, damaging any positive USD sentiment.
The GBP rose for the first time in eight sessions amid optimism Brexit could be delayed and that Prime Minister Theresa May was preparing to offer an amended version of her Brexit deal ahead of a trio of crucial votes in Parliament.
US President Trump released his fiscal 2020 budget blueprint overnight. He is seeking the largest-ever cuts to domestic discretionary spending (including the Environment Protection Agency, departments of State, Energy, Transportation and Agriculture), boosts to defence spending, plus USD$8.6 billion for his beloved wall. The blueprint also forecasts annual deficits beyond the next 10 years and rising national debt, which already exceed USD$16 trillion.
There is no data scheduled on the NZ calendar today.
Business confidence figures from Australia hit the wires this afternoon, followed by US inflation data overnight.
Global equity markets were higher on the day – Dow +0.6%, S&P 500 +1.3%, FTSE +0.4%, DAX +0.8%, CAC +0.7%, Nikkei +0.5%, Shanghai +1.9%.
Gold prices fell 0.5% to USD$1,292 an ounce, while WTI Crude Oil prices jumped 1.1% to US$56.74 per barrel.
Current indicative rates:
Upcoming Data releases (NZST):
To subscribe to our free daily Currency Rate Sheet and News email, enter your email address here.
Marcus Phillips is the Affiliate manager at xe money transfer in Auckland. You can contact him here »