The NZDUSD opens at 0.8391 this morning.
The NZD traded to a high of 0.8427 late on Friday ahead of Fed Chair Janet Yellen’s Jackson Hole Address.
Chair Yellen’s speech at Jackson Hole was less dovish than expected, pushing US interest rates and the US dollar higher.
Expect the USD to make further gains after ECB President Draghi stated that they are ready to add more stimulus.
US 10yr treasury yields pushed up from 2.38% to close at 2.44%.
Global equity markets were mainly lower over the weekend - Dow -0.22%, Nikkei -0.3%, Shanghai +0.47%, FTSE-0.04%, DAX -0.66%
Gold prices fell by more than 2.1% on the week closing at USD$1276 oil prices fell -0.33%.
The current indicative mid-rates are:
NZDUSD 0.8391
NZDEUR 0.6351
NZDGBP 0.5072
NZDJPY 87.55
NZDAUD 0.9029
NZDCAD 0.9199
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 »
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