Aussie and Kiwi Dollars Continue to Climb Across the Board

Xe Corporate APAC

April 29, 2020 2 min read

The AUDUSD opens at 0.6546 and the NZDUSD opens at 0.6129 this morning.

The AUD and NZD both continue their walk up the stairs, climbing across the board. The US Fed came out overnight keeping rates unchanged as expected at 0%-.25% and reaffirming that they are there to support the economy now and in the future. Interestingly, negative rates weren't mentioned. Given so many other countries are at least denying that they would go there, you would think the question could have been asked. One would imagine the US banking system would not be in a position to practically implement negative rates however.

In other news, we have a range of data out of Europe tonight, including GDP, Unemployment Rates and Inflation, topped off with an interest rate decision. While a it could still be too soon for the data to be that relevant, it is very interesting to look at their starting point. In the US we talk about unemployment getting to 10%, and how bad that would be. Italian unemployment is currently 9.7%, which is almost a 5 year low. If you look at Europe as a whole, you are still looking at 7.3% currently, down from 12% in 2013. If the States are expected to triple from their starting point of 3.5%, where does that leave Europe?  

Global equity markets are stronger, Dow +2.5% S&P 500  +3.2%, FTSE +2.6%, DAX +2.9%, CAC +2.2%, Nikkei -0.1%, Shanghai +0.4%.

Gold prices are flat at 0.2% to USD$1,710 an ounce. WTI Crude Oil prices are up 20.4% to $15.3 a barrel.

Get in touch with us for more information or pricing.

Would you like daily international currency market news and insights delivered to directly to your inbox? Sign up to our country-specific updates below, and please browse the rest of our blog for more insights from XE offices around the globe.

Australia Morning Update | New Zealand Morning Update

Currency Market InfluencesAPAC