Welcome to our daily market update, where we help keep you informed on the latest happenings in the world of FX. If you have any questions or would like anything further explained, please don’t hesitate to reach out to your account manager or email info@cafx.com
U.S. Market:
Asian Market:
Hong Kong’s Hang Seng Index closed up 0.68% at 20,264.49 points, while the Hang Seng Tech Index rose 2.64% to 4,689.19 points. Japan’s Nikkei 225 Index fell 3.93% to 31,714.03 points, and South Korea’s KOSPI Index dropped 1.74% to 2,293.68 points.
European Market:
On the same day, the three major European stock indexes fell across the board. The Financial Times Stock Exchange 100 Index (FTSE 100) in the London Stock Exchange closed at 7,679.48 points on April 9, down 231.05 points from the previous trading day, a decline of 2.92%. France’s Paris Stock Exchange CAC 40 Index closed at 6,863.02 points, down 237.40 points from the previous trading day, a drop of 3.34%. Germany’s Frankfurt Stock Exchange DAX Index closed at 19,670.88 points, down 609.38 points from the previous trading day, a decrease of 3.00%.
Forex Market:
The U.S. Dollar Index fell by 0.04%, closing at 102.912 in the forex market. By the end of the New York forex market:
1 Euro exchanged for 1.0964 USD, up from 1.0951 USD the previous day.
1 British Pound exchanged for 1.2803 USD, up from 1.2790 USD the previous day.
1 USD exchanged for 147.45 Japanese Yen, up from 146.39 Yen the previous day.
1 USD exchanged for 0.8549 Swiss Francs, up from 0.8480 Francs the previous day.
1 USD exchanged for 1.4116 Canadian Dollars, down from 1.4238 Canadian Dollars the previous day.
1 USD exchanged for 9.9452 Swedish Krona, down from 10.0007 Krona the previous day.
Economic Data & Events:
Trump’s reversal on tariffs targeting specific countries is not absolute. The White House stated that the 10% blanket tariff on almost all U.S. imports will remain in effect. This statement also does not seem to affect the already implemented tariffs on automobiles, steel, and aluminum. Trump further pressured China, stating that tariffs on Chinese imports would increase from 104% (effective Wednesday) to 125%. On Wednesday, China raised additional tariffs on U.S. products to 84% and imposed restrictions on 18 U.S. companies, most of which are engaged in defense-related industries.
Key Data:
- China’s March CPI Year-on-Year
- U.S. March Seasonally Adjusted CPI Year-on-Year
Here are the latest mid-market rates:
| Currency Pair | Mid-market Rate |
|---|---|
| NZD/USD | 0.5661 |
| NZD/AUD | 0.9198 |
| NZD/JPY | 83.06 |
| NZD/CNY | 4.1560 |
| NZD/EUR | 0.5158 |
| NZD/GBP | 0.4408 |
| NZD/HKD | 4.3935 |
| NZD/SGD | 0.7592 |
Char of the day
