APAC Morning Update - 20/01/2020

The AUD opens at 0.7692 and the NZD opens at 0.7110.

 

All is quiet heading into inauguration day overnight, which by all means shouldn’t be a market mover, but you just never know these days.

 
New Zealand’s business confidence figures came in surprisingly upbeat, still at -6, but a big jump up from -40. This is actually the most confident since 2017, so unless they surveyed everyone while they were still at the beach, it is a positive sign. Businesses that are confident are more inclined to invest, spend, and indeed hire more staff, which has positive effects for the economy as a whole.

Tomorrow for Australia we also have unemployment data, which has been elevated
since Covid. Any change is therefore quite significant.

 
Global equity markets are off across the board: Dow +0.5%, S&P 500 +0.9%, FTSE -0.1%,
DAX -0.2%, CAC -0.3%, Nikkei +1.4%, Shanghai -0.8%.

Gold prices are up 0.2%, currently trading at $1,841 an ounce. WTI Crude Oil prices are up 1.7% trading at $53 a barrel. 


AUDUSD 0.7692 0.2%
AUDEUR 0.6346 -0.2%
AUDGBP 0.5645 -0.2%
AUDJPY 79.92 0.4%
AUDNZD 1.0820 0.2%
GBPAUD 1.7712 0.2%

NZDUSD 0.7110 0.0%
NZDEUR 0.5865 -0.4%
NZDGBP 0.5217 -0.3%
NZDJPY 73.86 0.2%
NZDAUD 0.9242 -0.2%
NZDCAD 0.9054 -0.2%
GBPNZD 1.9163 0.3%