The NZDUSD opens at 0.8121 this morning.
The NZD/USD has failed to hold onto yesterday’s post election gains, as traders focused their attentions on China, with Analysts' growth forecasts for China falling and China’s Finance Minister Lou Jiwei stating that he wouldn’t dramatically alter its economic policy because of any one economic indicator, both equity and commodity prices have tumbled.
The release of China’s HSBC Flash Manufacturing PMI later today will be closely monitored by investors and another weak number here will put further downward pressure on the NZD.
Euro-zone consumer confidence fell from –10.0 to –11.4 in the September advance report, its fourth month of decline.
Tomorrow morning we have Fonterra’s Final Payout for 2014 and their revised payout for 2015.
Global equity markets are lower - Dow -0.64%, Nikkei -0.71%, Shanghai -1.70%, FTSE -0.94% DAX -0.51%.
Gold Prices continue to fall currently down 1.03% to $1,215. Oil is also lower down 0.93% to $90.81.
The current indicative mid-rates are:
NZDUSD 0.8121
NZDEUR 0.6325
NZDGBP 0.4965
NZDJPY 88.38
NZDAUD 0.9152
NZDCAD 0.8958
There are no domestic data releases today.
China’s HSBC Flash Manufacturing PMI is released at 13:45
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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