APAC Morning Update - 26 Nov 2020

The AUDUSD opens at 0.7370 and the NZDUSD opens at 0.7008 this morning.

Xe Corporate APAC

November 26, 20202 min read

The NZD is living above 0.7000 for the first time in two and a half years.

Meanwhile, the AUD is hovering above 0.7350 and 0.7400 is now back in its sights in this risk on environment.

A stronger than expected recovery, plus a faster COVID response globally, see both the NZD and AUD performing well.

USA

It’s Thanksgiving day in the US today , but the jobless claims numbers which showed a back-to-back rise since July and were ahead of the market's expectations, and showing a weaker labour market.

In other US economic news, the trade deficit is still on an upward spiral, with imports outweighing exports.

Europe and the UK

We may see some movement in the Euro and GBP over the next week, with decisive trade negotiations happening over the next few days. Three issues remain on if we see a deal.

On the move

It’s hard to make a case for the AUD and NZD going lower at the moment, so keep placing orders higher if you are an importer, and work this uptrend while it lasts.

Global equity are off a touch: Dow -0.65%, S&P 500 -0.2%, FTSE -0.6%, DAX -0.0%, CAC +0.2%, Nikkei +0.5%, Shanghai -1.2%.

Gold prices are up 0.1%, currently trading at $1,806 an ounce. WTI Crude Oil prices are up 1.5% trading at $45.6 a barrel.