The NZDUSD opens at 0.6684 (mid-rate) this morning.
The USD strengthened strongly after yesterday morning’s Federal Reserve statement, but has eased back after the release of some weaker economic data overnight.
Pending home sales in the U.S. unexpectedly decreased for the second consecutive month in September. They tumbled 2.3% to 106.8 after sliding 1.4% in August. Economists had expected a 1% increase for September.
Eurozone economic confidence improved unexpectedly in October to 105.9 from 105.6 in September. That was better than the 105.1 market consensus.
The Conference Board's Leading Economic Index, a measure of future economic activity in Eurozone, showed no variations in September, following a 0.2% increase in August.
Germany's consumer prices increased 0.3% in October after remaining flat in the previous month, which was the fastest gain since June. German unemployment declined more-than-expected in October to a seasonally adjusted 5,000 to 2.788 million, and better than the 4,000 expected.
U.K. house price inflation accelerated unexpectedly in October to the highest level in five months. House prices climbed 3.9% year-over-year in October. UK loan approvals for house purchases unexpectedly dropped in September for the first time in four months from its highest level in two-and-a-half years.
Industrial production in Japan was up a seasonally adjusted 1.0% month on month in September. That beat forecasts for a decline of 0.5% following the 1.2% contraction in August.
Global equity markets with the exception of the Shanghai and Nikkei are lower - Dow -0.26%, S&P 500 -0.19%, FTSE -0.65%, DAX -0.29%, CAC -0.10%, Hang Seng -0.60%, Nikkei +0.17%, Shanghai +0.36%.
Gold prices are down $9 currently trading at $1146 an ounce, WTI Crude Oil is up 0.9% currently trading at $46.09 a barrel.
Indicative mid-rate pricing:
NZDUSD 0.6684 -0.4%
NZDEUR 0.6098 -0.7%
NZDGBP 0.4363 -0.7%
NZDJPY 80.95 -0.2%
NZDAUD 0.9449 0.2%
NZDCAD 0.8803 -0.5%
Upcoming Data releases (NZST):
10:45 – ANZ Business Confidence
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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