The NZDUSD opens slightly higher 0.8605 this morning after what can only be described as a quite night for currency markets.
In contrast a lively night for equity traders saw Global equity markets fall sharply with the S&P 500 on track for its biggest three-day drop in two months.
S&P -1.08% Dow -1.02%, Nikkei -1.69%, Shanghai 0.74%, FTSE -1.09%, DAX -1.91%.
Gold prices fell overnight as investors took profit after Fridays 1% rise (the biggest one day jump in three weeks).
Oil prices are also lower overnight with Brent Crude trading at $105.30 down $1.42.
Today we await the NZIER Business Confidence Data release (10:00am) for direction. Last release for Q4, 52.
The current indicative mid-rates are:
NZDUSD 0.8605
NZDEUR 0.6261
NZDGBP 0.5182
NZDJPY 88.80
NZDAUD 0.9280
NZDCAD 0.9441
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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