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Market Update

EncoreFX’s daily market updates are written by our experienced and professional dealing team.

Kiwi Rallies on Positive Risk Sentiment, US Government Shutdown Ends – Temporarily

Published January 28, 2019

A brief update today due to the Auckland Anniversary holiday.

The Kiwi Dollar has surged higher over the weekend, gaining close to 1% from Friday and trading near a two week high. Risk markets ended the week on a positive note with news that an agreement has been reached to temporarily end the U.S government shutdown. There was also some positive signs on U.S – China trade discussions, encouraging earnings reports out of the U.S, and more positive Brexit news, all adding to the air of optimism.

A big week ahead of data, particularly out of the U.S including Trade Balance, Consumer Confidence, GDP, Employment, and the FOMC Rate Decision. On the local front we have NZ Trade Balance due tomorrow morning.

Quiet trading ahead today with the Auckland Anniversary Day holiday, and Australia Day across the ditch.