UK MPs Voted To Delay Brexit - APAC Update

Xe Corporate APAC

March 14, 2019 2 min read

The AUD opened at 0.7063, the NZD opened down at 0.6820. The NZD and AUD have been pretty quiet, ranging only about 2.5% in the past 8 weeks.

Brexit Update

Big news this morning was UK MPs voted to delay Brexit from March the 29th to June 30th. This was passed by 412 votes to 202, so quite comfortable. This still needs to be ratified by the EU, and agreed upon by all 27 member states. They have said that they want some chance of meaningful change before accepting the extension. The worry is if it is extended beyond June, then it could well be a few more years, for both UK and EU elections before any Brexit.  

Upcoming Data

Press conference out of Japan later today rounds off the week, before a slew of data next week. Thursday is shaping up to be a very big day, with major data and announcements out from NZ, Australia, the UK and the States.

Global equity markets were pretty flat on the day  Dow +0.13%, S&P 500 -0.12%, FTSE +0.37%, DAX +0.13%, CAC +0.82%, Nikkei -0.02%, Shanghai -1.2%.Gold prices are off, down 1.1% to USD$1,296 an ounce. WTI Crude Oil prices are flat, up 0.1% to US$58.53 per barrel.

Mid-market Rates
AUDUSD0.7063-0.5%NZDUSD0.6820-0.5%AUDEUR0.6249-0.2%NZDEUR0.6034-0.2%AUDGBP0.5344-0.3%NZDGBP0.5158-0.3%AUDJPY78.900.1%NZDJPY76.180.1%AUDNZD1.03560.1%NZDAUD0.9655-0.1%GBPAUD1.87130.3%NZDCAD0.9089-0.3% GBPNZD1.93830.3%
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