The NZDUSD opens lower at 0.7715 (mid-rate) this morning.
The NZDUSD traded as low as 0.7685, its lowest level since Aug 2013 with the USD boosted by the news that the Republicans have won control of the Senate and stronger than expected employment data.
The USD strength reflects a positive reaction to yesterday's elections, which saw Republicans expand their majority in the House of Representatives and retake control of the Senate.
Private sector employment in the U.S. added 230k (expected 220k) jobs in October following an upwardly revised increase of 225k jobs in September.
The overnight data releases out of both the UK and Europe disappointed with the UK’s Services PMI printing 56.1 vs. 58.2, and Euro-zone Retail sales m/m printing -1.3% vs. -0.6%
European and US equities are sharply higher - Dow +0.63%, Nikkei +0.44%, Shanghai -0.47%, FTSE +1.32%, DAX +1.63%, CAC +1.63%
Gold prices, have plummeted down $21.50 to $1146. Oil prices are also lower at $78.36 (-1.55%) a barrel.
The current indicative mid-rates are:
NZDUSD 0.7715
NZDEUR 0.6176
NZDGBP 0.4827
NZDJPY 88.45
NZDAUD 0.8991
NZDCAD 0.8785
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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1 Comments
Yep, and Global Commodity Prices Are Collapsing At The Fastest Pace Since Lehman , hence a lower NZD/USD.
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