HiFX morning Update, January 14 2019

Monday, 14 January 2019, 8:06 am
Press Release: HiFX

The NZDUSD opens at 0.6825 (mid-rate) this morning.

It was a fairly quiet end to the trading week with the
USD closing slightly higher against the EUR and Yen and
softening against both the NZD and AUD as the partial
shutdown of the US Government became the longest ever when
it reached its 22nd day on Saturday.

As expected
consumer prices in the US inched lower in December with
Friday’s Labour Department report showing its consumer
price index dipped by 0.1% from November, reflecting a sharp
fall in both oil and gas prices. The core consumer price
index which excludes food and energy prices rose in line
with expectations, with the index increasing a modest 0.2%
from its November reading.

Economic growth in the UK
eased further in the three months to November but not as
much as forecast. The Office for National Statistics
reported GDP slowed to 0.3% down from 0.4% in the three
months to October. The pace of expansion was the slowest
since the three months to May but was better than the
expected 0.1% result.

The week ahead will be
dominated by Wednesday’s UK Brexit vote with Labour leader
Jeremy Corbyn vowing to table a vote of no confidence in the
government, which could trigger a general election should
Theresa May fail to gain enough support to pass her Brexit
deal.

Global equity market closed out the week
mixed, – Dow -0.02%, S&P 500 -0.01%, FTSE -0.36%, DAX
-0.31%, CAC -0.51%, Nikkei +0.97%, Shanghai +0.74%.

Gold prices edged higher Friday, closing out the week at
$1,287 an ounce. WTI Crude Oil prices snapped a 9-day
winning streak on Friday down 2.0% trading at $51.91 a
barrel.

ends

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