APAC Morning Update - 25/03/21

Xe Corporate APAC

March 25, 2021 2 min read

The NZDUSD opens at 0.6978 and the AUDUSD opens at 0.7588

The Kiwi takes a pause and the Aussie is retesting its lows , though the worry is that they are just catching their breath for the next leg down.

Out of Europe overnight we had a range of manufacturing data which was all surprisingly good.

The impact on the EUR was maybe a little more muted than otherwise, as the focus is on the vaccine rollout, which is currently moving slower than the Suez Canal.

Overnight we have US GDP data. This is expected at 4.1%, but is coming off a massive 33% for the last quarter, so could well be a volatile number.

This means you can take it with a slight grain of salt, but even saying that, the expectation is for the US to grow strongly this year so if that is not confirmed in the data the market could still be disappointed.

Global equity markets are mixed: Dow -0.7%, S&P 500 -0.1%, FTSE +0.2%, DAX -0.4%, CAC +0.0%, Nikkei -2.0%, Shanghai -1.3%.

Gold prices are up 0.4%, currently trading at $1,734 an ounce. WTI Crude Oil prices have bounced 6.2% trading at $61.3 a barrel.

AUDUSD 0.7588 -0.7%
AUDEUR 0.6422 -0.4%
AUDGBP 0.5543 -0.2%
AUDJPY 82.48 -0.6%
AUDNZD 1.0888 -0.1%
GBPAUD 1.8035 0.2%

NZDUSD 0.6978 -0.3%
NZDEUR 0.5901 -0.1%
NZDGBP 0.5094 0.1%
NZDJPY 75.88 -0.3%
NZDAUD 0.9178 0.3%
NZDCAD 0.8765 -0.4%
GBPNZD 1.9628 -0.1%

Currency NewsAustralian DollarNew Zealand Dollar