The NZD/USD opens around 0.83 this morning after trading to interbank highs around 0.8330 overnight.
US stocks are trading slightly weaker this morning with the S&P 500 down 0.21%. Commodities are also weaker with oil down 1.33% and gold down 0.31%.
There wasn’t much overnight to move markets. Fonterra’s Dairy Trade auction this morning saw average prices down 1.8% which had limited impact on the Kiwi.
The RBA left interest rates unchanged in Australia yesterday at 2.5% and commented the AUD remains “uncomfortably high”.
The NZD opens at current indicative levels: 0.8750 AUD, 0.6167 EUR, 0.5178 GBP, 81.91 JPY, 0.8690 CAD.
From NZ we get Q3 Employment data at 10:45am. The unemployment rate is expected to come in at 6.2% and employment growth of 0.5%. From Australia we get Trade Balance numbers at 1:30pm.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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