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The Opening Bell: Where currencies start on Tuesday, May 26, 2015

Currencies
The Opening Bell: Where currencies start on Tuesday, May 26, 2015

By Dan Bell

The NZDUSD opens at 0.7308 (mid-rate) this morning.

The NZD is little changed over the past 24hrs in what has been a slow start to the week with both Europe and the U.S. enjoying a long weekend.

The highlight today will come in the form of this morning’s Trade balance due to hit the tapes at 10:45.

Overnight, investors will be watching closely the U.S Core Durable Goods Orders m/m as well as CB Consumer Confidence for further direction.

Asian equity markets are higher - Dow Closed Nikkei+0.74%, Shanghai +3.35%, FTSE Closed DAX Closed CAC Closed

Gold prices are little changed $1,206 an ounce, Oil (WTI) is holding steady at 59.80  a barrel.

The current indicative mid-rates are:

NZDUSD           0.7308
NZDEUR           0.6655
NZDGBP           0.4725
NZDJPY             88.85
NZDAUD           0.9340
NZDCAD           0.8995

Domestic data releases today:
10:45 – Trade Balance


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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »

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