The NZDUSD opens at 0.6954 (mid-rate) this morning.
Gold and the Japanese Yen have strengthened as mounting geopolitical tensions continue to weigh on markets. Overnight North Korea described the US deployment of a Navy strike group to the Korean Peninsula as “outrageous,” and has warned that North Korea is ready to defend with any mode of war.
The British pound has edged higher after the Office for National Statistics reported that UK CPI for the month of March remained at three and a half year high of 2.3%. Economists had expected the inflation to inch lower.
German investor confidence increased for the second consecutive month in April. With the economic sentiment indicator increasing to 19.5 up from 12.8 in March. The result was well ahead of the forecast 14.8 result.
Yet again the economic data calendar is looking a little light with this afternoon's China inflation data likely to be the highlight.
Global equity markets remain mixed - Dow -0.13%, S&P -0.35%, FTSE +0.23%, DAX -0.50%, CAC -0.11%, Nikkei -0.27%, Shanghai +0.60%.
Gold prices are sharply higher up 1.6% at $1,274 an ounce, WTI Crude Oil has edged higher up 0.4% trading at $53.26 a barrel.
Current indicative rates:
NZDUSD 0.6954 -0.1%
NZDEUR 0.6557 -0.2%
NZDGBP 0.5568 -0.6%
NZDJPY 76.27 -1.2%
NZDAUD 0.9278 0.0%
NZDCAD 0.9269 -0.1%
GBPNZD 1.7960 0.6%
Upcoming Data releases (NZST):
- 13:30 - CNY CPI y/y CNY PPI y/y
To subscribe to our free daily Currency Rate Sheet and News email, enter your email address here.
Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.