Australian Dollar Climbs in Yesterday's Trading - APAC Update

The Australian dollar received a boost yesterday afternoon, following a better-than-expected Business Confidence report.

Xe Corporate APAC

February 12, 20193 min read

The AUDUSD opens at 0.7129 (mid-rate), and the NZDUSD opens at 0.6732 (mid-rate) this morning.

The Australian dollar received a boost yesterday afternoon, following a better-than-expected Business Confidence report. The NAB reported its conditions index rose by 4 points to +7 in January, following a sharp in December.

U.S updates

Optimism over US-China trade talks and easing fears about another US government shutdown has fuelled investors' appetite for riskier assets. President Donald Trump announced overnight that he would consider extending the March 1st  deadline to close a trade deal before raising tariffs on Chinese products. With the third round of trade negotiations about kick offm Trump stated "If we're close to a deal ... I could see myself letting that slide for a little while."

Lead Republican negotiator Richard Shelby, from Alabama said negotiators had reached a tentative agreement on border security. The agreement reportedly includes $1.3 billion for physical barriers on the border with Democrats also agreeing to drop their demand to reduce the number of illegal immigrants who can be detained by Immigration and Customs Enforcement. Although the funding is well short of the 5.7 billion Trump had demanded, it is believed to be enough to avoid another government shutdown.

Upcoming data

This afternoon, market expectations are for the RBNZ to deliver a “dovish” statement and follow in the footsteps of the BoE, RBA and the ECB in downwardly revising our growth forecasts. The statement will be released at 2:00pm with a press conference to follow at 3:00pm.

Overnight,investors will be focused on inflation data releases out of both the UK and the US.Global equity markets have continued to push higher, Dow +1.28%, S&P 500 +1.18%, FTSE +0.06%, DAX +1.01%, CAC +0.84%, Nikkei +2.61%, Shanghai +0.68%.

Gold prices are unchanged at 1,309 an ounce. WTI Crude Oil prices have surged higher, currently up 3.5% trading at $53.87 a barrel.

Mid-market rates

AUDUSD0.70950.5%NZDUSD0.67320.0%AUDEUR0.62660.0%NZDEUR0.5941-0.5%AUDGBP0.55050.3%NZDGBP0.5216-0.3%AUDJPY78.380.5%NZDJPY74.410.1%AUDNZD1.05390.5%NZDAUD0.9485-0.5%GBPAUD1.8165-0.3%NZDCAD0.8915-0.4% GBPNZD1.91720.3%
Please contact us for more info about your international payments, or click here to register and save now.

Please Note:
The information, materials, accompanying literature and documentation available on our internet site is for information purposes only and is not intended as a solicitation for funds or a recommendation to trade. XE, its officers, employees and representatives accept no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information.

While we take reasonable care to keep the information on the website accurate and up to date, there may be occasions when this is not possible. Case Studies and articles are not intended to predict future moves in exchange rates or constitute advice.

XE makes no representations, warranties, or assurances as to the accuracy or completeness of any information derived from third party sources. If you are in any doubt as to the suitability of any foreign exchange product that you are intending to purchase from XE, we recommend that you seek independent financial advice first.

For more information about XE, please click here: Regulatory Information