September 25, 2019 — 2 min read
The AUDUSD opens at 0.6754 (mid-rate) and the NZDUSD opens at 0.6273 (mid-rate) this morning.
The US dollar has rebounded overnight, after falling on the impeachment news against President Trump earlier in the week. Last night’s release of the transcript of his call with Ukrainian President Zelensky in which Trump had been accused of withholding foreign aid if Zelensky refused to work with Trump’s attorney-general in investigating Biden and his son, has been reviewed by the US Department of Justice who have deemed that there was no campaign finance violation and that no further action is warranted.
The British pound is back under the pump with calls for Prime Minister Boris Johnson to resign after the Supreme Court ruled that Johnson had unlawfully prorogued parliament. The ruling has significantly reduced the chances of the UK exiting the EU without a deal.
The New Zealand dollar strengthened yesterday afternoon after the RBNZ, as expected, kept the Official Cash Rate unchanged at 1.0%. Although the Central Bank left the door open for further rate cuts the addition of the wording “if necessary” suggests the Committee are comfortable with the way the economy is tracking.
The Australian dollar continues to lack direction ahead of next week’s Reserve Bank statement with the market still pricing in a 75% chance the RBA will cut the official cash rate by 25 basis points.
Global equity markets remain mixed - Dow +0.63%, S&P 500 +0.51%, FTSE -0.02%, DAX -0.59%, CAC -0.79%, Nikkei -0.36%, Shanghai -1.00%.
Gold prices are down 1.6% overnight currently trading at $1,502 an ounce. WTI Crude Oil prices have dipped further currently down 1.2% trading at $56.40 a barrel.
Our *MarketWatch* page is live, please click here to access.
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.*