The NZD/USD opens lower at 0.7930, after a night that saw better US data hurt equity markets and lift the USD.
US New Home Sales came in at 497K v 482K, and Manufacturing PMI was also slightly better than expected.
Stock markets currently: Dow Jones -0.16%, S&P -0.38%, FTSE +0.35%.
The NZD opens the crosses - 0.8660 AUD, 0.6015 EUR, 0.5185 GBP, 79.60 JPY, 0.8185 CAD.
RBNZ rate announcement at 9.00am - the key points in RBNZ’s accompanying statement are:
- Says expects to keep OCR unchanged through to the end of the year
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Policy to depend on housing market and construction sector
- Inflation low but expected to turn
- NZD remains high and in a headwind
- Global outlook remains mixed
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The NZD is higher in immediate response.
Current indicative levels are:
NZD-USD 0.7950 / 0.7970
NZD-AUD 0.8670 / 0.8700
NZD-EUR 0.6020 / 0.6040
NZD-GBP 0.5180 / 0.5210
NZD-JPY 79.60 / 79.90
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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