The NZDUSD opens at 0.7775 (mid-rate) this morning.
The NZDUSD has had a quiet start to the week with both the US and New Zealand (Wellington) enjoying a long weekend, this morning we have the release of the NZIER Business Confidence numbers at 10:00am and China’s GDP hitting the tapes at 3:00pm.
Global equity markets finished up with the exception of the Shanghai (down 7.7% after regulators penalized three brokerages for breaking rules that limit risky margin trading) - Dow CLOSED, Nikkei +0.89%, Shanghai -7.70%, FTSE +0.54% DAX +0.73%, CAC +0.35%.
Gold prices are trading slightly lower at $1276 (-$3.65), Oil prices fell overnight down 2.4% to $47.52
The current indicative mid-rates are:
NZDUSD 0.7775
NZDEUR 0.6695
NZDGBP 0.5138
NZDJPY 91.37
NZDAUD 0.9468
NZDCAD 0.9301
Domestic data releases today:
10:00am NZIER Business Confidence
3:00pm China 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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