The NZDUSD opens lower at 0.8307 this morning.
The NZD has once again fallen on the back of yet another disappointing Fonterra auction (-6.0%).
The GDT index has now fallen 44.5% since February and is down 42% yoy.
Overnight the USD continued to strengthen on the back of stronger than expected manufacturing data (59.0 v 57.0) and an increase in construction spending (1.8% v 0.9%).
Global equity markets are mixed - Dow -0.28%, Nikkei +1.24%, Shanghai +1.37%, FTSE +0.06% DAX +0.3%
Gold and Oil prices are significantly lower at Gold price USD$1,265(-$22), Oil price $92.97%.(-$3)
The current indicative mid-rates are:
NZDUSD 0.8307
NZDEUR 0.6333
NZDGBP 0.5046
NZDJPY 87.41
NZDAUD 0.8962
NZDCAD 0.9085
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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