The NZDUSD opens at 0.7769 this morning.
The NZDUSD traded to a low of 0.7710 yesterday afternoon, initially falling after John Key indicated he believes the NZD$ fair value is close to 65 USc, and then extending the move lower after the RBNZ confirmed they intervened and sold a net NZ$521 million during the month of August.
Over night the German Prelim CPI m/m came in flat confirming inflation in Germany is at 0.8%y/y for September.
Global equity markets finished the week mixed - Dow -0.56%, Nikkei +0.50%, Shanghai +0.43%, FTSE -0.04% DAX -0.71%, CAC -0.83%.
Gold remained steady at $1,217, Oil prices gained 0.89% to $94.35.
The current indicative mid-rates are:
NZDUSD 0.7769
NZDEUR 0.6122
NZDGBP 0.4782
NZDJPY 85.01
NZDAUD 0.8902
NZDCAD 0.8658
Data Releases:
12:00pm ANZ Business Confidence
1:45pm HSBC Final Manufacturing PMI
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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