The NZDUSD opens at 0.7890 this morning.
The NZD$ has been the strongest performing currency over the past 24hrs as investors continued to trim their long USD positions ahead of tonight’s US Non-Farm Payrolls release. The NZDUSD traded as high as 0.7925 and immediately dropped back to 0.7885 with traders appearing to hunt exporter stops above 0.7900.
Overnight the ECB failed to deliver on market expectations of an announcement of full blown quantitative easing instead they have agreed to buy rebundled debt alongside their earlier commitment to lower interest rates and offer cheap bank loans.
European equity markets are sharply lower following the ECB announcement.
Global equity markets are mixed - Dow +0.08%, Nikkei -2.61%, Shanghai +0.26%, FTSE -1.69% DAX -1.99%, CAC -2.81%
Gold has steadied trading at $1214, Oil prices are also steady trading at 0.63% to $91.19
The current indicative mid-rates are:
NZDUSD 0.7890
NZDEUR 0.6222
NZDGBP 0.4886
NZDJPY 85.45
NZDAUD 0.8957
NZDCAD 0.8797
Data Releases: Overnight we have the US Non-farm Payrolls
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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