The NZDUSD opens at 0.7545 (mid-rate) this morning.
The NZDUSD traded back above 0.7600 following a disappointing Non-Farm Payroll number, with the USD losing ground against all its major trading partners.
U.S. Non-Farm Payroll employment rose by 126k jobs in March following a downwardly revised increase of 264k jobs in February. The market had expected employment to increase by about 245k jobs compared to the addition of 295k jobs originally reported for the previous month.
The AUD remained subdued ahead of today’s RBA Rate announcement with the NZDAUD cross rate peaking at 0.9975, should the RBA decide to cut this afternoon we could well see this cross rate trade at parity.
Global equity markets closed out the week mixed. The Dow is higher following the U.S. data releases - Dow +0.91%, Nikkei -0.19%, Shanghai +1.00%, FTSE +0.35% DAX -0.28%, CAC +0.24%.
Gold prices are up $7 currently trading at $1216, Oil (WTI) gained 6% currently trading at $52.25.
The current indicative mid-rates are:
NZDUSD 0.7545
NZDEUR 0.6904
NZDGBP 0.5061
NZDJPY 90.17
NZDAUD 0.9916
NZDCAD 0.9418
There are no domestic data releases today. 16:30 Reserve bank of Australia rate statement
To subscribe to our free daily Currency Rate Sheet and News email, enter your email address here.
Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.