The NZDUSD opens at 0.8325 this morning.
The NZD opens higher this morning as traders regain their risk appetite on reports that Russia and Ukraine have agreed on a cease-fire from the ongoing conflict in eastern Ukraine.
Overnight the Euro-zone retail sales data showed a 0.4% decline in July from June, and this along with fall in the EU composite purchasing managers index (PMI) will place further pressure on the EU to add to their stimulus.
Global equity markets are higher - Dow +0.07%, Nikkei +0.38%, Shanghai +1.00%, FTSE +0.65% DAX +1.26%
Gold prices are modestly higher USD$1270(+$5), Oil price $95.97%.(+$2.65)
The current indicative mid-rates are:
NZDUSD 0.8325
NZDEUR 0.6332
NZDGBP 0.5057
NZDJPY 87.26
NZDAUD 0.8910
NZDCAD 0.9062
There are no domestic data releases today - overnight we have the US ADP Non-Farm Employment change and both the UK and EU cash rate announcements.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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