The NZDUSD opens at 0.7660 (mid-rate) this morning.
The NZDUSD traded as low as 0.7630 after China’s Trade Balance surprised the market (imports declined 6.7% vs. +3.8% while exports advanced only 4.7% vs.+8%) and investors trimmed their long NZD$ positions ahead of Fonterra’s forecast 2014/15 payout (due out any time from today).
Overnight comments from the ECB’s Nowotny mentioning “massive weakness of euro area economy” and weaker than expected German Industrial Production for the month of October has seen the EURUSD trade as low as 1.2250 (its lowest level since Aug 2012).
Global equity markets remain mixed - Dow -0.29%, Nikkei +0.08%, Shanghai +2.81%, FTSE -1.05% DAX -0.72%, CAC -1.00%.
Gold prices are up 0.36% currently trading at $1194 while Oil prices are trading back below $65.00 at $64.24.
The current indicative mid-rates are:
NZDUSD 0.7660
NZDEUR 0.6220
NZDGBP 0.4900
NZDJPY 92.51
NZDAUD 0.9240
NZDCAD 0.8795
There are no domestic data releases today.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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