January 26, 2021 — 2 min read
The NZD opens at 0.7198 and happy Australia Day to all the Aussies out there.
The Kiwi opens basically unchanged, but do not be too complacent. There were
jitters overnight with US Stocks selling off quickly before recovering, but
nothing like a little sell off to make “investors” nervous. It is a pretty big
earnings week this week, with the likes of Apple and Tesla releasing their
numbers. Tesla is currently trading at 1,720 times earnings, so it would be
hard to argue the market is too fussed about that metric, but it can be hard to
predict what straw will break the camel's back. A run of poor earning of some of
the larger companies, could well be it. I am not sure about you, but if I
bought Tesla a year or 2 ago for $40 odd, and was looking at my 2,000% gains,
it probably wouldn’t take much of a trigger for me to pull the plug.
It is an Australian holiday today, so please note settling in AUD will be
Global equity markets are mixed: Dow -0.2%, S&P 500 +0.2%, FTSE -0.8%, DAX -1.7%, CAC -0.6%, Nikkei +0.7%, Shanghai +0.5%.
Gold prices are up 0.1%, currently trading at $1,856 an ounce. WTI Crude Oil prices are up 0.9% trading at $52.5 a barrel.
NZDUSD 0.7198 0.1%
NZDEUR 0.5926 0.3%
NZDGBP 0.5264 0.2%
NZDJPY 74.70 0.3%
NZDAUD 0.9334 0.3%
NZDCAD 0.9163 0.2%
GBPNZD 1.8994 -0.2%