The NZDUSD opens at 0.8141 this morning.
The NZD/USD continued its steady decline on Friday, ending the week below 0.8150, its lowest level since early-February.
Led by strong August US retail sales data which came in at 0.6%m/m and the University of Michigan Consumer confidence index which rose to 84.6 in September, a 14-month high, the USD recovery continues to gain momentum.
The NZD also finds itself sharply lower against both the GBP and the EUR with the NZDGBP rate now sitting just above the psychologically important 0.5000 level.
Global equity markets had a mixed close for the week - Dow -0.36%, Nikkei +0.25%, Shanghai +0.87%, FTSE +0.11% DAX -0.41%
Gold slips for 5th straight day, posts 2.8% weekly loss Oil prices were also down 1.0% on the week.
The current indicative mid-rates are:
NZDUSD 0.8141
NZDEUR 0.6275
NZDGBP 0.5005
NZDJPY 87.31
NZDAUD 0.9035
NZDCAD 0.9035
There are no domestic data releases today.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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