By Dan Bell
The NZD/USD opens lower at 0.8335 this morning, with the overnight low being 0.8317.
US final GDP numbers came in surprisingly strong at +3.1% (2.8% was the forecast), and US home sales and manufacturing data both exceeded expectations. Although these positive figures were overshadowed by the lack of progress on resolving the US fiscal cliff issues.
Gold prices plunged by more than 1% and is on track to end the 4th quarter down over 7% - it’s worst quarterly performance in over 8 years. Copper fell 2% to near 1-month lows.
World equity markets closed marginally higher on the day.
The NZD opens at 0.8335 USD, 0.7960 AUD, 0.6300 EUR, 0.5125 GBP, & 70.35 JPY.
There is nothing on the Mayan calendar today and for the foreseeable future. The end of the world jokes are going around like there is no tomorrow!
This will be the last morning update for 2012 - thank you for your support and readership through out the year.
“Wishing you all a very Merry Christmas and a Happy & Prosperous New Year from all the team at HiFX”
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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