APAC Morning Update - 30 Nov 2020

The AUDUSD opens at 0.7387 and the NZDUSD opens at 0.7025 this morning.

Xe Corporate APAC

November 30, 20201 min read

Sydney's Central Business District

The AUD and NZD continue to climb and are looking strong across the board. New Zealand business confidence is out at 1pm NZDT today. This has been fairly steady, we don't expect too many fireworks off the back of the release.

We have Chinese manufacturing data at 12pm AEDT/2pm NZDT which should be interesting. Historically this has been a big mover for the AUD, and will likely remain so in the short term. However, the more China and Australia’s trade relationship deteriorates, the less relevant this is going to be.

Over in the UK, lack of progress saw the NZD trading to the highest it has been against the Pound in over a year and a half. Reports state that there are only days to get a deal done. We have heard that one before, but it is shaping up to be a big week.

Global equity are off a touch: Dow +0.1%, S&P 500 +0.2%, FTSE +0.1%, DAX +0.4%, CAC +0.6%, Nikkei +0.4%, Shanghai +1.1%.

Gold prices are off 1.0%, currently trading at $1,791 an ounce. WTI Crude Oil prices are up 1.6% trading at $45.6 a barrel.