The NZDUSD opens lower at 0.8480 this morning.
The NZDUSD made a fresh 11-week low of 0.8455, while the NZDAUD dipped to 0.9116 - level last seen 6-months ago.
The AUD jumped higher across the board on data showing business investment spending plans for 2014/2015 were a lot higher than previously estimated. This was despite a recent fall in capital expenditure in the first quarter of this year.
GDP data showed the US economy contracted in the first quarter for the first time in 3 years.
Economists blamed severe winter weather, and the markets largely discounted this GDP release.
In other US data, the Weekly Jobless Claims figures showed improvement, while Pending Home Sales disappointed.
The USD was a little weaker against a basket of currencies; however theNZDUSD bucked this trend.
Global equity markets were higher on the day - Dow +0.3%, Nikkei +0.1%, Shanghai -0.7%, FTSE +0.3%, DAX +0.0%
Gold prices fell 0.2% to USD$1255 overnight, and has plunged 3.2% this week. Oil prices rose 0.3%.
The current indicative mid-rates are:
NZDUSD 0.8480
NZDEUR 0.6235
NZDGBP 0.5070
NZDJPY 86.30
NZDAUD 0.9120
NZDCAD 0.9190
NZ Building Consents will be released at 10:45am today.
Australian Private Sector Credit figures hit the tapes at 1:30pm. From the US tonight we get some manufacturing data, consumer sentiment, along with some Fed-speak.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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