The NZDUSD opens at 0.7475 (mid-rate) this morning.
The NZDUSD traded down to 0.7455 overnight with the USD continuing to make head-way following the release of U.S. CB Consumer Confidence data.
The U.S. Consumer Confidence Index jumped to 101.3 in March from an upwardly revised 98.8 in February surprising economists who had been expecting a fall to 95.5 from the 96.4 originally reported for February.
News out of Europe again disappointed with Euro-zone inflation falling for the fourth month in a row (CPI Flash Estimate y/y -0.1%)(and the Euro-zone unemployment rate worsening more-than-forecast to 11.3%(expected 11.2%).
Global equity markets are broadly lower - Dow -0.54%, Nikkei -1.05%, Shanghai -1.02%, FTSE -1.72% DAX -0.99%, CAC -0.98%.
Gold prices are down another $2 trading at $1185 Oil (WTI) dropped 1.5% currently trading at $47.75.
The current indicative mid-rates are:
NZDUSD 0.7475
NZDEUR 0.6958
NZDGBP 0.5033
NZDJPY 89.65
NZDAUD 0.9808
NZDCAD 0.9467
Data releases today:
14:00 – CNY Manufacturing PMI
14:45 – CNY HSBC Final Manufacturing PMI
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.