The NZDUSD opens at 0.8174 this morning.
The NZDUSD has traded within a tight range overnight (0.8135-0.8179) and opens up this morning just below the high.
The NZD should continue to tread water while traders await Thursday’s FOMC.
The NZDGBP has bounced off of the psychological 0.5000 but will also remain range bound with the Scottish independence vote too close to call.
The overnight US data releases were mixed with the September US Empire Manufacturing release surprising to the upside (27.5 vs. 15.9 expected) and the August industrial production number coming in below market expectations (-0.1% vs. 0.3%)
Global equity markets remain mixed - Dow +0.24%, Nikkei +0.25%, Shanghai +0.31%, FTSE -0.04% DAX +0.09%
Gold prices are slightly higher trading at USD$1,233, Oil price $92.85 +0.62%.
The current indicative mid-rates are:
NZDUSD 0.8174
NZDEUR 0.6317
NZDGBP 0.5035
NZDJPY 87.60
NZDAUD 0.9052
NZDCAD 0.9029
There are no domestic data releases today
Overnight we have another Fonterra auction.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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