Overnight Position

Thanks to optimistic geopolitical developments and the Fed taking action to support lending markets, USD loses its early lead as risk sentiment shifts very positive into the weekend.

U.S.-China trade developments were a big influence on the Kiwi this week, that is until we saw a strong mid-week move on New Zealand housing data.

With a lack of major catalysts from NZ, the Kiwi had a relatively quiet week. It’s movements were mainly tied with counter currency and global risk sentiment flows for a mixed performance result.

Great week for Loonie bulls as positive geopolitical updates and news of another oil tanker event drove risk sentiment and oil prices up to support the Canadian dollar.