The NZDUSD opens at 0.8305 this morning.
The big news overnight came out of Europe when Mario Draghi cut all three of Europe’s benchmark rates by 10 basis points and announced that the ECB will start purchasing securities in the private market to inject more capital into the struggling European economy.
These measures saw the EURUSD Rate fall 200 points and break through key 1.3 support level.
European equity markets were also boosted by this news with the DAX , the CAC and the FTSE all closing higher on the day.
The US data releases were once again stronger than market expectations with the ISM non-manufacturing survey leading the way, rising from 58.7 to 59.6 in August.
Global equity markets are Mixed - Dow -0.17%, Nikkei -0.33%, Shanghai +0.80%, FTSE +0.06% DAX +1.02%
Gold prices are at an 11-week low trading at USD$1,260, Oil price $94.52%.(-$1.02)
The current indicative mid-rates are:
NZDUSD 0.8305
NZDEUR 0.6412
NZDGBP 0.5081
NZDJPY 87.31
NZDAUD 0.8891
NZDCAD 0.9032
There are no domestic data releases today.
Over the weekend we have the release of the key US Non-Farm payrolls.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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