FX News

FX Update: NZD Runs Hot

Key Points:

  • Worldwide coronavirus cases surpass 447.653 million with over 6.025 million official deaths.
  • New Zealand has 23,894 active community cases of coronavirus  with 756 people in hospital, 16 in intensive care.
  • Crude Oil prices soar to record levels after Iranian talks turn stale, Russian deputy PM saying crude prices could hit $300 per barrel if sanctions on Russian oil are brought in. US and EU allies are considering banning imports of Russian crude  
  • UK headlines report that the EU plans to pull back on Russian gas imports by two thirds over the next 12 months
  • South Korea has suspended transactions with Russia
  • US Equities give back last week’s gains falling over 2.0% overnight
  • Ukraine/Russia conflicts cause gold to surge, topping out overnight at 2001.00 an ounce 
  • Any progress in the 3rd round talks between negotiators in the Ukraine and Russia war could take days or weeks to come up with a solution with 4th round talks due to start soon in Belarus
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