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The Opening Bell: Where currencies start for Wednesday, August 20, 2014

Currencies
The Opening Bell: Where currencies start for Wednesday, August 20, 2014

By Dan Bell

The NZDUSD opens lower at 0.8420 this morning.

The NZD is once again under pressure following a Fonterra Auction, the pay index dipped -0.6% with volumes also down -8.4%.

The USD made gains against a basket of major currencies overnight boosted by stronger than expected housing data suggesting the Federal Reserve may look to hike earlier than expected.

Euro zone current account surplus narrowed from € 19.8bn in May to €13.1bn in June putting further pressure on the EUR.

Global equity markets were again  higher on the day, .- Dow +.048%, Nikkei +0.08%, Shanghai +0.30%, FTSE+0.56%, DAX +0.96%

Gold prices fell 0.1% to USD$1296. Oil prices are down -1.75%.

The current indicative mid-rates are:

NZDUSD           0.8420

NZDEUR           0.6325

NZDGBP           0.5068

NZDJPY            86.68

NZDAUD          0.9055

NZDCAD          0.9219

There are no domestic data releases today.

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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »

Daily exchange rates

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End of day UTC
Source: CoinDesk

 

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