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The Opening Bell: Where currencies start on Wedenesday, May 27, 2015

Currencies
The Opening Bell: Where currencies start on Wedenesday, May 27, 2015

By Dan Bell

The NZDUSD opens at 0.7225 (mid-rate) this morning.

The NZDUSD has fallen a cent overnight as the USD continues to strengthen following last night’s raft of U.S. data releases.

While the U.S core durable goods orders printed 0.5% for April in line with estimates,strong housing data combined with strengthening consumer confidence has seen investors add to their USD long positions.

The Euro is trading lower on the back of political uncertainty in Spain and continued concerns about a possible Greek default. In municipal elections Spain’s reigning Popular Party suffered its worst result in 20 years with anti-austerity parties making the most inroads

Global equity markets are mixed: Dow -1.21%, Nikkei +0.12%, Shanghai +2.02%, FTSE -1.18%, DAX -1.61%, CAC -0.66%

Gold prices are sharply lower $1,188 (-$18) an ounce, Oil (WTI) has lost -2.7% trading at $58.10  a barrel.

The current indicative mid-rates are:

NZDUSD           0.7225
NZDEUR           0.6648
NZDGBP           0.4700
NZDJPY            88.90
NZDAUD           0.9350
NZDCAD           0.8990

There are no domestic data releases today


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

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Source: CoinDesk

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