The NZDUSD opens at 0.7512 (mid-rate) this morning.
The NZDUSD opens this morning down half a cent from yesterday on the back of broad USD strength following better than expected economic data.
Last night’s second-tier US data releases exceeded economists’ expectations with both Personal income and pending home sales printing stronger than their forecasts. Personal Income in the U.S. increased by 0.4% vs. 0.3%, while Pending Home Sales in the U.S. jumped to their highest level in twenty months up 3.1%to 106.9 in February expected +0.3%.
Euro-zone economic sentiment rose for the fourth successive month to its highest since July 2011. The economic sentiment index climbed 103.9 in February up from 102.1 in January.
Global equity markets start the week broadly higher - Dow +1.63%, Nikkei +0.65%, Shanghai +2.59%, FTSE +0.53% DAX +1.83%, CAC +0.98%.
Gold prices are down $13 trading at $1185. Oil (WTI) dropped $1 currently trading at $47.85.
The current indicative mid-rates are:
NZDUSD 0.7512
NZDEUR 0.6938
NZDGBP 0.5066
NZDJPY 90.22
NZDAUD 0.9812
NZDCAD 0.9532
Domestic data releases today:
10:45 - Building Consents m/m
13:00 - ANZ Business Confidence
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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