The NZDUSD opens at 0.6338 (mid-rate) this morning.
The NZD has traded sideways over the past 24hrs as investors await Friday night’s all important U.S. Non-farm-payrolls for further direction.
Overnight U.S data release fell short of economists’ expectations. Employment in the private sector saw a notable increase in the month of August climbing by 190k but falling well short of the predicted 210K jobs increase, July’s185k data release was also downwardly revised to 177k fuelling speculation that the Fed will further delay it’s expected interest rate hikes.
Elsewhere the UK Construction Purchasing Managers' Index rose to 57.3 from 57.1 in July but once again failed to meet economists forecast of 57.5.
Global equity markets are mixed - Dow +1.3%, S&P 500 +0.98%, FTSE +0.41%, DAX +0.32%, CAC +0.30%, Nikkei -0.39%, Shanghai -0.20%.
Gold prices are down $6 trading at $1133 an ounce, WTI Crude Oil has gained 1.7% currently trading at $46.17 a barrel.
Indicative mid rates:
NZDUSD 0.6338 0.1%
NZDEUR 0.5638 0.6%
NZDGBP 0.4140 0.1%
NZDJPY 76.17 0.4%
NZDAUD 0.9018 0.2%
NZDCAD 0.8417 0.7%
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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