The NZDUSD opens at 0.7518 (mid-rate) this morning.
With the lack of any meaningful overnight data and investors awaiting tonight’s Yellen testimony and Fonterra’s latest payout forecast (due out any day now) the NZDUSD has once again traded within a tight range.
German business confidence strengthened for a fourth consecutive month in February reaching its highest level in seven months but falling short of market expectations (106.8 vs. 107.6).
Global equity markets remain mixed - Dow -0.31%, Nikkei +0.73%, Shanghai Closed FTSE -0.04% DAX +0.73%, CAC +0.65%
Gold prices are down $1 at $1200, Oil prices are down another 2% at $50.85 a barrel
The current indicative mid-rates are:
NZDUSD 0.7518
NZDEUR 0.6634
NZDGBP 0.4865
NZDJPY 89.38
NZDAUD 0.9647
NZDCAD 0.9471
Data releases today
15:00 Inflation Expectations 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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