HiFX Morning Update - January 13 2017

HiFX Morning Update - January 13 2017

The NZDUSD opens at 0.7133 (mid-rate) this morning.

The NZD is flying high particularly against the USD and GBP, since Donald Trump’s press conference yesterday morning. The NZD/USD has traded a 98 point range or 1.4% in the last 24 hours.

Donald Trump held his first press conference early yesterday since winning the presidency, touching on many of the issues that will dominate the opening weeks of his presidency. Looming over the proceedings was a newly-published, and entirely unverified, dossier claiming the Russian government had collected compromising information on him.

Mr Trump blasted (what should be a president’s best friends) the intelligence community (CIA) and media for allowing the documents to become public, before moving on to his business dealings and his priorities upon taking office.

With no mention of his Economic plan, the financial markets were very volatile, & the result is the USD has weakened 1%. Put your seat belt on, it’s going to be an interesting Presidential term - (will it be 4 years?)

The U.S. advance figure for seasonally adjusted Initial Jobless Claims for the week ending January 7, was 247k, an increase of 10k from the previous week's revised level of 237k. This marks 97 consecutive weeks of initial claims below 300,000, the longest streak since 1970.

Eurozone seasonally adjusted Industrial Production rose by 1.5% in November compared with October. The market consensus was for an increase of 0.5%

Fed Chair Yellen speaks today, at 1pm this afternoon, and tonight we have US Retail Sales, PPI, Uni of Michigan Consumer Sentiment and FOMC Member Harker Speaking

Global equity markets are lower, with the FTSE steady - Dow -0.56%, S&P 500 -0.47%, FTSE +0.03%, DAX +0.54%, CAC -1.07%, Nikkei -1.19%, Shanghai -0.56%.

Gold prices are up $4 or 0.3%, currently trading at $1,195 an ounce. WTI Crude Oil is up 0.8% currently trading at $53.02 a barrel.

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