The NZDUSD opens lower at 0.8225 this morning.
The NZD opens lower against most of its trading partners this morning with the AUD$ being the exception.
The USD bull-run continued with traders increasing their USD long positions betting that the U.S. economy is growing at a pace that is likely to lead the Federal Reserve to begin raising interest rates next year.
The GBP has bounced off its lows after BoE Governor Carney suggested a spring rate rise is likely and is consistent with the Bank’s forecasts.
Gold is now at a three-month low as the dollar recovered losses made after a disappointing U.S. jobs report eased concerns about an early US interest rate increase.
Global equity markets remain mixed - Dow -0.56%, Nikkei +0.28%, Shanghai closed, FTSE -0.08% DAX -0.49%
Gold prices are again lower trading at USD$1,250, Oil price $92.69 +0.02%
The current indicative mid-rates are:
NZDUSD 0.8225
NZDEUR 0.6367
NZDGBP 0.5112
NZDJPY 87.45
NZDAUD 0.8948
NZDCAD 0.9053
There are no domestic data releases today.
Tomorrow at 9:00am we have the RBNZ Monetary Policy Statement.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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