sign up log in
Want to go ad-free? Find out how, here.

The Opening Bell: Where currencies start for Thursday, October 23, 2014

Currencies
The Opening Bell: Where currencies start for Thursday, October 23, 2014

By Dan Bell

The NZDUSD opens at 0.7945 this morning.

With a lack of any domestic data releases,  the NZDUSD traded within a 50pip range (0.7935-0.7985) over the past 24hrs peaking just ahead of the better than expected US CPI data, This morning’s NZ CPI release should give investors further direction.

The US Consumer Price Index unexpectedly showed a modest increase in the month of September, with higher prices for food and shelter offsetting a continued decline in energy prices. The release showed the index edged up by 0.1% in September following a 0.2% drop in August.

The Euro fell sharply overnight after a Spanish news release reported that as many as 11 banks from six different countries are about to fail the European Central Bank's comprehensive stress tests.

Bank of England policymakers remained split for the third consecutive month over whether to raise interest rates immediately, according to the minutes of their most recent meeting, the vote was once again 7 – 2 in favour of keeping the rates on hold.

Global equity markets remain mixed  - Dow -0.69%, Nikkei +2.64%, Shanghai -0.56%, FTSE +0.43% DAX +0.60%, CAC +0.58%.

Gold prices dipped overnight currently trading down $5 to  $1244, Oil prices are trading at $81.15 a barrel down 1.62%.

The current indicative mid-rates are:

NZDUSD           0.7945
NZDEUR           0.6275
NZDGBP           0.4942
NZDJPY            85.11
NZDAUD          0.9043
NZDCAD          0.8915

Data Releases:

10:45 NZ CPI q/q
14:45 CNY HSBC Flash Manufacturing PMI

---------------------------------------------------------

To subscribe to our free daily Currency Rate Sheet and News email, enter your email address here.

Email:   

----------------------------------------------------------

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

Daily exchange rates

Select chart tabs

Daily benchmark rate
Source: RBNZ
Daily benchmark rate
Source: RBNZ
Daily benchmark rate
Source: RBNZ
Daily benchmark rate
Source: RBNZ
Daily benchmark rate
Source: RBNZ
Daily benchmark rate
Source: RBNZ
Daily benchmark rate
Source: RBNZ
End of day UTC
Source: CoinDesk

We welcome your comments below. If you are not already registered, please register to comment.

Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.