FX News

FX Update: Risk Appetite Dwindling

FX Update

Market Overview

Key Points:

• Worldwide coronavirus cases surpass 413.645 million with over 5.842 million official
deaths.
• New Zealand has 981 active cases of coronavirus with 39 people in hospital. The NZ border will reopen in stages from the 27th of this month in a 5 step plan of self-isolation for travellers to reduce the MIQ facilities.
• Ukraine has been informed that Wednesday will be the day of an attack from Russian forces
• US 1 year inflation expectations fall back to 5.8% from 6.0%
• Australian weekly consumer confidence 103 vs 99 prior
• Crude Oil is being supported by fears over a Russian invasion of Ukraine with predictions the commodity could push price over $100/barrel

Major Announcements last week:
US CPI m/m up 0.6% to 7.5% y/y
NZ Inflation expectations print 3.27% vs 2.96%
UK prelim GDP fourth Q 1.0%, down from 1.3% in the third quarter of 2021
NZ House prices seasonally adjusted m/m up 1.4%

Previous ArticleNext Article