The USD remained flat on Friday night as the main data printed close on expectations and other markets remained quiet
The GBP second estimate of GDP came in at 0.8%, the USD PPI at 0.1%, Industrial Production at 0.4% all on expectations.
The preliminary University of Michigan Consumer Sentiment at 79.2 was down on expectation of 82.7, and lower than last time at 81.8
Global equity markets were mostly flat on the day – Dow -0.3%, Nikkei +0.0%, Shanghai -0.1%, FTSE+0.1%,
Gold prices decreased 1.8% to USD$1,302. Oil prices fell -2.2%.
The current indicative mid-rates are:
NZDUSD 0.8490
NZDEUR 0.6335
NZDGBP 0.5075
NZDJPY 86.95
NZDAUD 0.9110
NZDCAD 0.9245
Locally there is no data on the calendar for today. New Motor Vehicle Sales for Australia this morning and overnight there is the Trade Balance for Euro and German Buba Monthly Report which contains relevant speeches, statistical tables and detailed analysis of current and future economic conditions from Deutsche Bundesbank.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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