The NZDUSD opens at 0.6351 (mid-rate) this morning.
The NZDUSD is currently trading at 4-day highs with investors happy to pick up risk following yesterdays Shanghai equity market rally.
With the Shanghai Index leading the way, climbing nearly 3% European and U.S. equity markets (the CAC being the only exception) are sharply higher.
Strong data out of Euro-zone has also helped market sentiment with German exports rising 2.4% month-on-month in July and GDP advancing 0.4% sequentially after rising 0.5% in the previous quarter.
Global equity markets remain mixed - Dow +2.18%, S&P 500 +2.26%, FTSE +1.18%, DAX +1.61%, CAC -1.19%, Nikkei -2.43%, Shanghai +2.92%.
Gold prices are up 0.3% at $1122 an ounce, WTI Crude Oil has gained 0.2% currently trading at $45.55 a barrel.
Indicative mid rates:
NZDUSD 0.6351 1.5%
NZDEUR 0.5667 1.2%
NZDGBP 0.4124 0.7%
NZDJPY 76.15 2.0%
NZDAUD 0.9027 0.0%
NZDCAD 0.8389 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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