The NZDUSD opens at 0.6507 (mid-rate) this morning.
Friday’s Non-farm-payrolls for October stunned the market and sent the USD racing higher as investors positioned themselves for a U.S. rate hike in December.
The report showed a substantial jump in non-farm payroll employment, with economists expecting a modest increase of 185k jobs the actual creation of 271k not only strengthened the USD but also helped push the unemployment rate down to 5% from 5.1% in September.
Domestically Wednesday mornings RBNZ Financial Stability Report followed Gov Wheeler’s speech will be the main driver for the NZD this week.
Global equity markets finished the week mixed- Dow +0.26%, S&P 500 -0.03%, FTSE -0.17%, DAX +0.92%, CAC +0.08%, Nikkei +0.78%, Shanghai +1.91%.
Gold prices fell back below $1100 on Friday closing out the week at $1089 an ounce, WTI Crude Oil closed below $45 on Friday down 2% to $44.29 a barrel.
Indicative mid-rate pricing:
NZDUSD 0.6507 -1.7%
NZDEUR 0.6061 -0.4%
NZDGBP 0.4322 -0.6%
NZDJPY 80.20 -0.5%
NZDAUD 0.9265 -0.1%
NZDCAD 0.8660 -0.6%
Upcoming Data releases (NZST):
No local data today.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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