The NZDUSD opens higher this morning at 0.8733 this morning.
The NZDUSD continues to range trade driven by US data releases, overnight we saw the US GDP q/q fall below market expectations of -1.8% to -2.9% this has seen the NZD trade back to the top of its recent range peaking at 0.8735.
Global equity markets are once again mixed - Dow +0.29%, Nikkei -0.71%, Shanghai -0.41%, FTSE -0.79%
Gold is currently at $1319.50 after trading as high as $1324.50
The current indicative mid-rates are:
NZDUSD 0.8733
NZDEUR 0.6406
NZDGBP 0.5145
NZDJPY 88.97
NZDAUD 0.9287
NZDCAD 0.9367
Once again we are without any domestic data releases today, tomorrow we have our Trade Balance hitting the tapes at 10:45am
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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