The NZDUSD opens lower at 0.8326 this morning.
Following the release of yesterday’s disappointing NZ Trade balance (-692m) the NZD traded to a low of 0.8311 before finding support and once again trading within a tight range.
Stronger than anticipated US data with consumer confidence, durable goods orders and the Richmond Fed manufacturing index all exceeding market expectations has created a risk on mood with traders.
European and US equity markets extended gains on a combination of looser ECB policy and bullish US data releases.
Global equity markets are mixed - Dow +0.22%, Nikkei -0.59%, Shanghai -0.99%, FTSE +0.7% DAX +0.82%
Gold prices are higher at USD$1284, oil prices are up +0.61%.
The current indicative mid-rates are:
NZDUSD 0.8326
NZDEUR 0.6318
NZDGBP 0.5031
NZDJPY 86.62
NZDAUD 0.8944
NZDCAD 0.9115
Today we have FPI m/m released at 10:45
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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