The NZDUSD opens lower at 0.8420 this morning.
The NZD is once again under pressure following a Fonterra Auction, the pay index dipped -0.6% with volumes also down -8.4%.
The USD made gains against a basket of major currencies overnight boosted by stronger than expected housing data suggesting the Federal Reserve may look to hike earlier than expected.
Euro zone current account surplus narrowed from € 19.8bn in May to €13.1bn in June putting further pressure on the EUR.
Global equity markets were again higher on the day, .- Dow +.048%, Nikkei +0.08%, Shanghai +0.30%, FTSE+0.56%, DAX +0.96%
Gold prices fell 0.1% to USD$1296. Oil prices are down -1.75%.
The current indicative mid-rates are:
NZDUSD 0.8420
NZDEUR 0.6325
NZDGBP 0.5068
NZDJPY 86.68
NZDAUD 0.9055
NZDCAD 0.9219
There are no domestic data releases today.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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