The NZDUSD opens at 0.7670 (mid-rate) this morning.
Following the latest GDT dairy auction the NZD has been one of the worst performing currencies over the past 24hrs. Although average dairy prices were shown to be up 1% from the previous auction, they are still down 46% on a year ago.
Overnight the IMF cut its 2015 global growth forecast from 3.8% to 3.5% (although it did upgrade its US forecast).
Global equity markets with the Dow being the exception are higher. - Dow -0.37%, Nikkei +2.07%, Shanghai +1.82%, FTSE +0.52% DAX +0.14%, CAC +1.16%
Gold prices have pushed higher up $15 to $1292 , Oil prices are again lower down 2.17% to $46.52
The current indicative mid-rates are:
NZDUSD 0.7670
NZDEUR 0.6640
NZDGBP 0.5059
NZDJPY 91.11
NZDAUD 0.9385
NZDCAD 0.9270
Domestic data releases today:
10:45am - NZ CPI 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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