The NZDUSD opens at 0.6333 (mid-rate) this morning.
The NZDUSD starts today little changed from yesterday's open. The NZDUSD had pushed higher peaking at 0.6385 yesterday afternoon before equity markets and commodity prices turned negative and investors once again sold risk.
Global equity markets are sharply lower as global manufacturing data releases led by China, failed to meet economists’ expectations. Following on from China’s lacklustre manufacturing PMI 49.7 (exp 49.8) the UK 51.5 (exp 51.9), Euro-zone 52.3 (exp 52.4) and U.S. 51.1 (exp 52.6) releases equity markets tumbled once again.
Global equity markets are sharply lower - Dow -2.56%, S&P 500 -2.60%, FTSE -3.03%, DAX -2.38%, CAC -2.40%, Nikkei -3.84%, Shanghai -1.23%.
Gold prices are up $5 trading at $1139 an ounce, WTI crude oil has given up yesterday’s gains currently down 8% at $45.25 a barrel.
Indicative mid rates:
NZDUSD 0.6333 -0.1%
NZDEUR 0.5607 -0.7%
NZDGBP 0.4137 0.2%
NZDJPY 75.86 -1.2%
NZDAUD 0.9001 1.2%
NZDCAD 0.8360 0.1%
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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