The AUD Suffered Yesterday After Several Underwhelming Domestic Data Announcements - APAC Update

Xe Corporate APAC

March 4, 2019 2 min read

APAC Update

The AUDUSD opens marginally lower at 0.7088 (mid-rate), and the NZDUSD opens a little higher at 0.6817 (mid-rate) this morning.

The AUD suffered yesterday after several underwhelming domestic data announcements, ahead of today’s RBA meeting and Wednesday’s key Q4 GDP release.

There is no data scheduled on the NZ calendar today. The Reserve Bank of Australia has an interest rate decision at 4:30 pm today.

US Update

The USD rose to a 10-day high against a basket of currencies, as rising US treasury yields increased demand for the currency, and on optimism that a trade deal between the US and China was possible.

A report over the weekend said US president Donald Trump and his Chinese counterpart Xi Jinping could reach a formal agreement at a summit around 27th March, given the progress they have made.

US construction spending fell by 0.6% in December, providing further evidence the US economy lost momentum in late 2018. Despite this news, the NZD managed to outperform across the board.

News from Other Markets

Global equity markets were mixed on the day - Dow -1.4%, S&P 500 -1.0%, FTSE +0.4%, DAX -0.1%, CAC +0.4%, Nikkei +1.0%, Shanghai +1.1%.

Gold prices fell 0.8% to USD$1,285 an ounce, while WTI Crude Oil prices rose 0.3% to US$55.95 per barrel.

Mid-market Rates

AUDUSD0.70880.0%NZDUSD0.68170.1%AUDEUR0.62560.4%NZDEUR0.60170.6%AUDGBP0.53830.7%NZDGBP0.51750.8%AUDJPY79.21-0.1%NZDJPY76.160.1%AUDNZD1.0395-0.2%NZDAUD0.96230.2%GBPAUD1.8577-0.7%NZDCAD0.90820.4% GBPNZD1.9324-0.8%
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