The NZDUSD opens at 0.6780 (mid-rate) this morning.
The NZD is down three quarters of a percent on better than expected U.S. data overnight.
U.S. Unemployment Claims came it at 267k slightly better than the 271k market consensus. U.S Natural Gas Storage showed an increase of 12 billion cubic feet better than expectations of 7 billion, and ahead of last week’s fall of 25 billion.
U.S. Consumer Credit grew at a seasonally adjusted annual rate of 5.8% for a gain of USD 17.2 billion in February.
Top European Central Bank (ECB) officials drew the boundaries of future action overnight, saying the bank had no plan to transfer "helicopter" money directly to Europeans but remained willing to take smaller steps to counter global slowdown.
Fed Chair Yellen is due to participate in a panel discussion at the International House, in New York this morning at 9:30am. Traders scrutinize her public engagements as they are often used to drop subtle clues regarding future monetary policy;
Global equity markets are mixed : Dow -1.06%, S&P 500 -1.29%, FTSE -0.4%, DAX -0.98%, CAC -0.90%, Nikkei +0.22%, Shanghai -1.38%.
Gold prices are gained 1.1% and is trading at USD$1241 an ounce, WTI Crude Oil is down 0.1% to $37.75 a barrel.
Current indicative rates:
NZDUSD 0.6780 -0.7%
NZDEUR 0.5960 -0.5%
NZDGBP 0.4820 -0.3%
NZDJPY 73.50 -1.9%
NZDAUD 0.9030 0.6%
NZDCAD 0.8910 -0.3%
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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