HiFX Morning Update - January 20 2017

HiFX Morning Update - January 20 2017

NZDUSD 0.7159 -0.2%
NZDEUR 0.6737 0.3%
NZDGBP 0.5819 -0.2%
NZDJPY 82.62 1.6%
NZDAUD 0.9499 -0.1%
NZDCAD 0.9548 0.8%

The NZDUSD opens at 0.7159 (mid-rate) this morning.

The NZD has traded an 82 point range or 1.2% against the USD overnight ahead of Trump’s inauguration ceremony, and is significantly stronger than the Yen, the Kiwi gaining 1.6%

In the week ending January 14, the advance figure for seasonally adjusted U.S. initial claims was 234,000, ahead of the market expectation of 252,000.

U.S Building permits showed a significant rebound in the month of December, increasing 11.3% to an annual rate of 1.226 million from a revised November rate of 1.102 million.

Economic conditions continued to improve in January, according to the U.S. firms responding to this month’s Manufacturing Business Outlook Survey. The index now stands at 23.6 up from 19.7 in December.

Crude Oil Inventories almost halved from 4.1 million barrels last week, to 2.3 million barrels this week.

The inauguration of Donald Trump - as the 45th President of the United States - will take place on Friday, January 20 on the West Front of the United States Capitol building in Washington, D.C. The event will begin at 12pm Midday there, which is Saturday 6am in NZ.

Global equity markets are lower except Japan - Dow -0.22%, S&P 500 -0.22%, FTSE -0.54%, DAX -0.02%, CAC -0.25%, Nikkei +0.94%, Shanghai -0.38%.

Gold prices are down $13 or 1.1%, currently trading at $1,200 an ounce, WTI Crude Oil is down 0.8% currently trading at $51.21 a barrel.

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