The NZDUSD opens at 0.8058 this morning.
The NZD$ continues to slide, on the back of risk aversion (The US and some Middle Eastern allies began air strikes in Syria) and falling commodity prices. Iron ore has dropped to yet another five-year low overnight despite better-than-expected manufacturing data out of China.
European PMI’s came in weaker than expectations (composite 52.3) with German PMI slumping to its lowest level since June 2013.
Global equity markets continue to struggle - Dow -0.56%, Nikkei -0.71%, Shanghai +0.87%, FTSE -1.44% DAX -1.58%
Gold Prices have rallied off of yesterdays lows currently trading at $1223 (+$8.00) Oil gained 0.72% to $91.53
The current indicative mid-rates are:
NZDUSD 0.8058
NZDEUR 0.6273
NZDGBP 0.4917
NZDJPY 87.85
NZDAUD 0.9121
NZDCAD 0.8931
Domestic Data Releases: 10:45 Trade Balance
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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