The NZDUSD opens at 0.6540 (mid-rate) this morning.
The NZD is little changed from where we started the week yesterday having traded as low as 0.6510 before finding support and trading back above 0.6550.
Once again Chinese equities have led global equity markets and commodity prices lower. The Shanghai Composite shed -5.33% in yesterday’s trading session, extending its year-to-date fall to -14.76%, while copper and oil prices continued to plummet to new 6 yr and 12 yr lows respectively.
Global equity markets continue to slide - Dow -0.02%, S&P 500 -0.25%, FTSE -0.69%, DAX -0.25%, CAC -0.49%, Nikkei Closed Shanghai -5.33%.
Gold prices have fallen back below $1100 an ounce currently down $5 at $1099 an ounce, WTI Crude Oil is currently trading down 6% at $31.20 a barrel.
Current indicative rates:
NZDUSD 0.6540 -0.2%
NZDEUR 0.6003 0.0%
NZDGBP 0.4495 -0.4%
NZDJPY 76.85 -0.1%
NZDAUD 0.9375 -0.4%
NZDCAD 0.9308 0.3%
Upcoming Data releases (NZST):
- 13:00 - ANZ Commodity Prices m/m
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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