The NZD/USD opens this morning around 0.8290 after trading another tight range on Friday night.
US fiscal concerns remain the focus of global markets. The government remains in a partial shutdown and the Senate failed to progress discussions to raise the debt ceiling.
US equities finished the week on a positive note with the S&P 500 up 0.63%. Gold and oil prices were weaker down 1.2% and 1.87% respectively.
Trade data from China over the weekend was much worse than expected with exports dropping 0.3% in September well below expectations for a rise of 6%, the worst performance in 3 months.
The NZD opens at current indicative levels: 0.8796 AUD, 0.5186 GBP, 81.37 JPY, 0.6110 EUR, 0.8590 CAD.
Not much to report from NZ today. Nothing to report from Australia. Chinese CPI at 2:30pm NZT will the focus with the market expecting 2.8% inflation rate. Holiday in Japan & US.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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