The NZDUSD opens lower at 0.7755 this morning.
A poor Australian GDP print saw the AUD trade to fresh 2014 lows yesterday and in turn keeping downward pressure on the NZD. Further Australian data today poses event risk and markets now firmly looking towards Fridays Non Farm Payroll Results out of the US.
UK service sector growth strengthened overnight with the UK Services PMI beating forecasts and indicating firm demand and rising volumes for new business.
ADP Private Sector Employment increased by 208,000 jobs in November. The theme of a strengthening US economy continues which should continue with US Non Farm Payrolls over the weekend.
Global equity markets mixed on the day – Dow +0.1%, Nikkei +0.3%, Shanghai +0.6% FTSE-0.4%, DAX +0.4%.
Gold prices finished +0.9 % at USD$1,196. Oil finished at +.7%.
The current indicative mid-rates are:
NZDUSD 0.7755
NZDEUR 0.6300
NZDGBP 0.4945
NZDJPY 92.90
NZDAUD 0.9220
NZDCAD 0.8810
On the day:
- Australian m/m Retail Sales and Trade Balance at 1:30pm
- Non Farm Payrolls out of the US Friday night
----------------------------------------------------------
To subscribe to our free daily Currency Rate Sheet and News email, enter your email address here.
----------------------------------------------------------
Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.