The NZDUSD opens at 0.7797 this morning.
The NZDUSD traded to a high of 0.7827 yesterday afternoon, before a weaker than expected Euro-zone CPI release saw the USD strengthen, outperforming both the NZD and AUD. Over the last three months the Dollar Index has now risen almost 8%.
The soft data releases out of Europe last (Core CPI Flash Estimate y/y 0.75 vs. 0.9%, and German Unemployment increasing by 12k) will put further pressure on the ECB to add to their current simulative policy.
Global equity markets were mixed - Dow -0.31%, Nikkei +0.50%, Shanghai +0.26%, FTSE -0.36% DAX +0.55%, CAC +1.33%
Gold prices fell to a 9mth low currently trading at $1209.50, Oil prices are down sharply at $ 90.92(-3.75%)
The current indicative mid-rates are:
NZDUSD 0.7797
NZDEUR 0.6172
NZDGBP 0.4812
NZDJPY 85.50
NZDAUD 0.8912
NZDCAD 0.8738
Today’s data Releases:
2:00pm China’s 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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