The NZDUSD opens at 0.6927 (mid-rate) this morning.
The NZD opens marginally higher than Friday’s close, with the probability of a U.S. Interest Rate hike this Thursday morning, now fully priced in.
In the 3 months to January 2017, U.K. total production was estimated to have increased by 1.9%, with manufacturing providing the largest contribution increasing by 2.1%, its strongest growth since May 2010.
U.S. employers added jobs at an above-average pace for a second month on outsized gains in construction and manufacturing, showing the labour market continued its steady growth in the new year. The 235,000 increase in jobs followed a 238,000 rise in January that was more than previously estimated, the best back-to-back rise since July.
The U.S. Unemployment rate fell to 4.7% from 4.9% a year ago, and wages grew 2.8% over the past 12 months. The number of U.S. unemployed persons, at 7.5 million, was little changed in February.
U.S. Consumer Confidence retreated in February from a 13-year high, as Americans tempered expectations of their finances and the economy. The University of Michigan said Friday that its preliminary index of sentiment cooled to a three-month low of 95.7 from 98.5 in January. The median projection in a Bloomberg survey called for 98.
ECB President Draghi speaks tonight, NZ’s Current Account is delivered Wednesday morning 10:45am followed by NZ GDP Thursday 10:45am.
Global equity markets are mainly higher: Dow +0.21%, S&P +0.33%, FTSE +0.38%, DAX -0.13%, CAC +0.24%, Nikkei +1.48%, Shanghai -0.12%.Gold prices are up $1 from Friday’s open currently trading at $1,204 an ounce, WTI Crude Oil is down 0.8% currently trading at $48.49 a barrel.
Gold prices are up $1 from Friday’s open currently trading at $1,204 an ounce, WTI Crude Oil is down 0.8% currently trading at $48.49 a barrel.
Current indicative rates:
NZDUSD 0.6927 0.4%
NZDEUR 0.6486 -0.5%
NZDGBP 0.5691 0.5%
NZDJPY 79.44 0.3%
NZDAUD 0.9164 -0.2%
NZDCAD 0.9324 0.1%
Upcoming Data releases (NZST):
- 10:45am - NZD - FPI m/m
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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