HiFX Morning Update Kan22

HiFX Morning Update

NZDUSD 0.7285 -0.2%
NZDEUR 0.5939 -0.6%
NZDGBP 0.5248 -0.3%
NZDJPY 80.62 -0.5%
NZDAUD 0.9125 -0.1%
NZDCAD 0.9119 0.4%
GBPNZD 1.9055 0.3%

Marketwatch

The NZDUSD opens at 0.7285 (mid-rate) this morning.

The USD is likely to continue to struggle this week after funding for US federal agencies ran out on Saturday midnight, forcing a partial US government shutdown. The shutdown has moved into its second day with the Democratic and Republican parties failing to reach a consensus on immigration.

US consumer sentiment unexpectedly deteriorated in the month of January, with the University of Michigan preliminary report showing the consumer sentiment index slipped to 94.4 in January from the final December reading of 95.9. The index had been forecast to rise to 97.0.

The Euro-zone current account surplus for the month of November increased to EUR 32.5B up from EUR 30.3B in October, The increase follows consecutive falls in September and October.

December retail sales in the UK declined more-than-expected with the Office for National Statistics reporting sales were down 1.5% following on from November’s 1% rise. This is the largest fall in retail sales since June 2016.

The key driver for the NZD during the week ahead will be Thursday’s Q4 inflation report.

Global equity markets rallied on Friday, - Dow +0.21%, S&P 500 +0.44%, FTSE +0.39%, DAX +1.15%, CAC +0.58%, Nikkei +0.19%, Shanghai +0.38%.

Gold prices trimmed their weekly losses on Friday, edging up 0.3% closing out the week at $1,331 an ounce, WTI Crude Oil prices fell on Friday, down 1.1%closing out the week $63.31.

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