The NZDUSD opens at 0.6608 (mid-rate) this morning.
In the absence of any notable data releases the NZD has once again outperformed its peers with investors continuing to pick up risk.
German industrial production fell short of economists estimates for August falling 1.2% from a downwardly revised July +0.7% (previously 1.2%). In contrast UK industrial output increased by 1% (exp +0.3%) in August reversing the 0.3% drop in July.
Overnight tonight the investors will be watching for the release of the U.S weekly jobs claims data followed by Federal reserve meeting minutes from last month.
Global equity markets have continued to push higher - Dow +0.48%, S&P 500 +0.53%, FTSE +0.16%, DAX +0.68%, CAC +0.48%, Nikkei +0.75%, Shanghai CLOSED.
Gold prices are stable at $1147 an ounce, WTI Crude Oil has dipped down 0.5% currently trading at $48.65 a barrel.
Indicative mid-rate pricing:
NZDUSD 0.6608 1.1%
NZDEUR 0.5880 1.4%
NZDGBP 0.4315 0.6%
NZDJPY 79.28 0.9%
NZDAUD 0.9135 0.4%
NZDCAD 0.8635 1.4%
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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