The NZDUSD opens at 0.7737 (mid-rate) this morning.
The NZDUSD is slightly higher after the FOMC currently trading at 0.7790 while we await Yellen’s speech.
The US consumer price index dropped by 0.3 percent in November (the biggest one-month drop since 2008) with falling energy prices accounting for the drop. Core consumer prices which exclude food and energy prices rose by 0.1%.
The UK jobless rate fell from 6.2% in May to July to 6% during the August to October period, its lowest level since 2008 the market had been forecasting 5.9%.
Equity markets are mixed - Dow +0.72%, Nikkei +0.38%, Shanghai +1.31%, FTSE +0.07% DAX -0.20%, CAC +0.46%.
Gold prices remain steady at $1,195, Oil prices are slightly higher trading at $58.60 a barrel.
The current indicative mid-rates are:
NZDUSD 0.7737
NZDEUR 0.6235
NZDGBP 0.4947
NZDJPY 91.01
NZDAUD 0.9465
NZDCAD 0.8988
Domestic data releases today:
10:45 – NZ GDP q/q
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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