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The Opening Bell: Where currencies start for Wednesday, September 10, 2014

Currencies
The Opening Bell: Where currencies start for Wednesday, September 10, 2014

By Dan Bell

The NZDUSD opens lower at 0.8225 this morning.

The NZD opens lower against most of its trading partners this morning with the AUD$ being the exception.

The USD bull-run continued with traders increasing their USD long positions betting that the U.S. economy is growing at a pace that is likely to lead the Federal Reserve to begin raising interest rates next year.

The GBP has bounced off its lows after BoE Governor Carney suggested a spring rate rise is likely and is consistent with the Bank’s forecasts.

Gold is now at a three-month low as the dollar recovered losses made after a disappointing U.S. jobs report eased concerns about an early US interest rate increase.

Global equity markets remain mixed  - Dow -0.56%, Nikkei +0.28%, Shanghai closed, FTSE -0.08% DAX -0.49%

Gold prices are again lower trading at USD$1,250, Oil price $92.69 +0.02%

The current indicative mid-rates are:

NZDUSD           0.8225
NZDEUR           0.6367
NZDGBP           0.5112
NZDJPY              87.45
NZDAUD           0.8948
NZDCAD           0.9053

There are no domestic data releases today.

Tomorrow at 9:00am we have the RBNZ Monetary Policy Statement.

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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »

Daily exchange rates

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End of day UTC
Source: CoinDesk

 

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