The NZDUSD opens at 0.6723 (mid-rate) this morning.
The NZD has continued to out-perform its peers (with the exception of the AUD) with investors happy to add to their risk portfolios.
Although the U.S. were enjoying a long weekend further commentary from Fed Gov Lockhart during a speech in Orlando, Florida indicated that the Fed have not ruled out raising rates in 2015 and that there is still a possibility of “lift-off in October, stating “I think October is a live meeting, clearly there is the potential that the data coming in, in advance of the October meeting will be sufficient … we have a lot more in December,"
Today’s highlight will be China’s Trade Balance data release due out this afternoon, while overnight, tonight we have U.K. CPI and German ZEW Economic Sentiment data releases.
Global equity markets have had a mixed start to the week - Dow +0.22%, S&P 500 -0.01%, FTSE -0.07%, DAX +0.23%, CAC -0.27%, Nikkei CLOSED, Shanghai +1.21%.
Gold prices gained $5 overnight currently trading at $1162 an ounce, WTI Crude Oil has plummeted 4.8% currently trading at $47.25 a barrel.
Upcoming Data releases:
10:45 - FPI m/m
Tentative – CNY Trade Balance
Indicative mid-rate pricing:
NZDUSD 0.6723 0.5%
NZDEUR 0.5916 0.4%
NZDGBP 0.4380 0.3%
NZDJPY 80.65 0.2%
NZDAUD 0.9130 -0.1%
NZDCAD 0.8736 0.8%
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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