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The Opening Bell: Where currencies start for Thursday, November 13, 2014

Currencies
The Opening Bell: Where currencies start for Thursday, November 13, 2014

By Dan Bell

The NZDUSD opens at 0.7885 (mid-rate) this morning.

The NZDUSD has traded higher after Fonterra surprised the market and announced an unchanged dairy payout price of NZD$ 5.30/kg for FY 2014/2015. Most economists had expected the payout to be lowered given the recent disappointing auction results.

Overnight BoE Chief Mark Carney stated that they see inflation below 1 percent in the coming six months and also lowered its economic growth projections.

Equity markets are mixed - Dow +0.07%, Nikkei +0.43%, Shanghai +1.00%, FTSE -0.25%, DAX -1.69%, CAC -1.51%

Gold prices are unchanged at $1163. Oil prices are slightly lower at $77.25 a barrel

The current indicative mid-rates are:

NZDUSD           0.7885
NZDEUR           0.6336
NZDGBP           0.4989
NZDJPY            90.35
NZDAUD           0.9035
NZDCAD           0.8903

Domestic data releases today:
10:45 – FPI m/m
18:30 – CNY Industrial Production y/y

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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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