NZDUSD proved unable to hold onto earlier gains overnight, current spot 0.7795.
Spanish unemployment remained at 4.7 million for August, or 26.3%. Only Greece sits higher than Spain at 27.6%. Incidentally, the lowest unemployment rate in the Eurozone is still Austria, at 4.5%.
UK manufacturing data printed much better than expected, and anecdotal reports suggest orders and output are growing at the fastest rates for 20 years.
US Secretary of State John Kerry faced questions from the Senate over the potential scope of any military operation in Syria. President Obama has decided to seek the approval of Congress on any action against Syria. The Democrat Senate majority leader is reported to have claimed that he has the 60 votes necessary to authorize a military strike.
US stocks finished the session relatively flat, after having posted good gains earlier in the day.
Current indicative rates:
NZDUSD 0.7795
NZDGBP 0.5011
NZDEUR 0.5918
NZDJPY 77.62
NZDAUD 0.8605
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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