The NZDUSD opens at 0.8460 this morning.
After trading as low as 0.8430 the NZD rebounded as tensions in the Ukraine eased and traders regained some of their risk appetite.
US equities rallied with both the Dow and S&P rising more that 1% during the day.
A record July trade surplus from China. China’s July trade surplus rose to a record USD 47 bln (versus USD 27 bln expected) should help to support the NZD which failed to close after several attempts below its 200 dma.
Global equity markets were mixed on the day – Dow +1.13%, Nikkei -2.98%, Shanghai -0.31%, FTSE-0.45%, S&P +1.15
Gold prices lost 0.54% to USD$1308. Oil prices gained +0.32%.
The current indicative mid-rates are:
NZDUSD 0.8460
NZDEUR 0.6312
NZDGBP 0.5045
NZDJPY 86.45
NZDAUD 0.9121
NZDCAD 0.9250
There is no data scheduled on the domestic calendar today.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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