- Home
- Blog
- Currency News
- AUD & NZD Move Downwards Before Trump's Tariff Deadline Kicks in - APAC Update
AUD & NZD Move Downwards Before Trump's Tariff Deadline Kicks in - APAC Update
9 mai 2019 — 3 min read
The AUD opened at 0.6991, and the NZD opened at 0.6592 this morning.
In what is the calm before the storm, the market collectively holds its breath before Trumps tariff deadline kicks in at 4pm NZT today. Talks actually recommence at 9:00 am NZT, so it is going to be a pretty choppy day, with headlines going both ways before a deal is agreed or not. This wouldn’t be the first “Deadline” in history to get extended, but given Trumps escalation, and with such little time to get anything real agreed to, it looks like he is putting the ball in China’s court, so he can offload the blame for a deal not happening.
Given the above, it is no surprise to find both the NZD and the AUD testing the recent lows. The AUD especially, if you exclude the flash crash, we are down at levels not seen in over 3 years. This really highlights just how ugly things could get, given where we are starting, on a trade war escalation.
To get back to news a little closer to home, we have the RBA Monetary Policy Statement out at 1:30 PM NZT. Generally not something you would want to skip your coffee for, this one should be slightly more interesting given they could conceivably have cut on Tuesday, and the next meeting, after the Australian elections, is going to be a live one.
US CPI overnight rounds us out, but really this is going to be a day where all eyes will be on the trade negotiations.
Global equity markets are on the back foot, - Dow -0.54%, S&P 500 -0.51%, FTSE -0.87%, DAX -1.69%, CAC -1.93%, Nikkei -0.93%, Shanghai -1.48%.
Gold prices are little changed, trading at $1,285 an ounce. WTI Crude Oil prices are off a touch, down -0.9%, trading at $61.53 a barrel.
Mid-market Rates
AUDUSD0.69910.0%NZDUSD0.65920.3%AUDEUR0.6229-0.2%NZDEUR0.58720.0%AUDGBP0.5369-0.1%NZDGBP0.50630.2%AUDJPY76.65-0.4%NZDJPY72.26-0.2%AUDNZD1.0605-0.2%NZDAUD0.94270.2%GBPAUD1.86220.1%NZDCAD0.88780.2% GBPNZD1.97510.2%
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.*
**Australia Morning Update | New Zealand Morning Update**
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