The NZDUSD opens at 0.7810 this morning.
China’s Q2 GDP growth slowed to 7.5% - this is the ninth quarter in ten that the rate has fallen.
The NZDUSD fell to a low of 0.7735 before reversing and quick trading back above 0.7800 on the release of some mixed US data - US retail sales rose less than expected in June, while the New York Fed’s “Empire State” general business conditions index rose (which indicate expansion in the region’s factories).
Global equity markets made moderate gains on the day.
The Gold Price ended little changed at USD$1284 an ounce. Oil edged higher while base metals prices were generally slightly lower.
The NZD opens at 0.7810 USD, 0.8585 AUD, 0.5980 EUR, 0.5175GBP, & 77.95 JPY.
NZ inflation data will hit the tapes at 10:45am.
The minutes of the Reserve Bank of Australia monetary policy meeting will be released at 11:30am.
German economic sentiment, Euro-zone CPI, & US CPI, amongst other will all be released tonight.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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