The NZDUSD opens at 0.7760 (mid-rate) this morning.
The release of the US Non-Farm payrolls has seen the NZDUSD rally from Friday’s low of 0.7660, to where we open this morning.
The weekends Non-Farm Payroll showed weaker than expected U.S. job growth in October, although the unemployment rate dropped to a new six-year low of 5.9%, the payrolls expanded by only 214,000 (economists had been expecting 235,000) jobs in October.
Industrial production in both Germany and France rebounded in September but still fell short of market expectations.
UK Trade Balance was also below market expectations printing -9.8b vs., -9.4B.
Global equity markets had a mixed finish to the week - Dow +1.11%, Nikkei +0.52%, Shanghai -0.32%, FTSE +0.25% DAX -0.91%, CAC -0.89%.
Gold snapped a seven-day losing streak to end sharply higher on Friday closing out the week at $1,178 (+$27).
Oil was also higher closing at $78.43 a barrel (+0.95%).
The current indicative mid-rates are:
NZDUSD 0.7760
NZDEUR 0.6229
NZDGBP 0.4890
NZDJPY 88.95
NZDAUD 0.8982
NZDCAD 0.8805
There are no domestic data releases today.
14:30 – CNY CPI y/y and PPI y/y.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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