The NZDUSD opens at 0.7940 this morning.
The NZD climbed to a high just above 0.7970 overnight prior to the GDT auction release this morning.
International dairy prices continued their slide lower in this morning’s Global Dairy Trade auction with the GDT index falling 3.1%. This put an end to any hopes that the market has stabilised and we’ve seen the NZD trade half a cent lower on the news.
Global equity markets mainly up on the day – Dow +0.4%, Nikkei +2.2%, Shanghai -0.7%, FTSE+0.6%, DAX +1.6%.
Gold prices finished up +1.1% at USD$1,196. Oil continuing its slide down -1.5%.
The current indicative mid-rates are:
NZDUSD 0.7940
NZDEUR 0.6330
NZDGBP 0.5080
NZDJPY 92.70
NZDAUD 0.9090
NZDCAD 0.8970
Bank of Japan Monetary Policy Statement due out at some stage this afternoon.
FOMC minutes tomorrow morning 8:00am Thursday morning.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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