The NZDUSD opens lower at 0.7810 this morning.
The NZDUSD fell to a 2 ½ week low of 0.7767, before bouncing on the release of disappointing US new home sales.
The USD was sold as new home sales, hurt by the rise in US mortgage rates, slid to their lowest reading in 9 months. The market rachetted back expectations that the US Fed will reduce its bond-buying program next month as a consequence.
The EURUSD approached a 6-month high on signs on improvement the euro-zone economy. German GDP grew by 0.7% in Q2.
Global equity markets were mostly higher the day – Dow +0.3%, Nikkei +2.2%, Shanghai -0.7%, FTSE +0.7%, DAX +0.2%
The Gold Price jumped 1.5% to USD$1,396 an ounce. Oil rose 1.0%, and base metal prices climbed on the day.
The NZD opens at 0.7810 USD, 0.8640 AUD, 0.5835 EUR, 0.5015 GBP, & 76.95 JPY.
NZ Trade Balance will be released at 10:45am today.
US Durable Goods Orders will 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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