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NZD Softens on US-China Trade Talk Concerns

Published October 15, 2019

NZD bound to a 20-point range in overnight trade, dipping to .6280 mid-session, but we commence our day where we started yesterday trying to hold .6300. We expect to remain in a holding pattern today ahead of the release tomorrow of our 3rd quarter inflation number, which as we mentioned yesterday will be the driver of future direction.

Generally stronger USD this morning as the market looks favourably on the recent US-China trade optimism, a couple of announcements from both sides alleviating some tensions.

AUD and EUR Cross rates similarly bound, however the GBP did a little softened up, after a rallying at the back-end of last week, the omnipresent Brexit complications taking the shine off.