The NZDUSD opens at 0.6825 (mid-rate) this morning.
The NZD is little changed over the past 24hrs as investors paused ahead of this morning’s FOMC meeting minutes.
The release of the Fed minutes confirmed that policy makers remain concerned about low inflation and that “deterioration in global financial conditions earlier this year had not been fully resolved".
Since the meeting a number of Fed officials have indicated a rate hike might well be warranted in April if the incoming economic data showed the recovery proceeding at a healthy pace.
Global equity markets are mixed - Dow +0.53%, S&P 500 +0.51%, FTSE +1.16%, DAX +0.64%, CAC +0.81%, Nikkei -0.11%, Shanghai -0.08%.
Gold prices are little changed currently trading at $1228 an ounce, WTI Crude Oil has surged higher, currently trading at $37.80 (+5%) a barrel.
Current indicative rates:
NZDUSD 0.6825 0.4%
NZDEUR 0.5987 0.2%
NZDGBP 0.4833 0.0%
NZDJPY 74.95 0.1%
NZDAUD 0.8980 -0.4%
NZDCAD 0.8940 0.0%
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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