The NZDUSD opens lower at 0.8381 this morning.
Yesterday the NZD seemed to have a delayed reaction to the previous evenings Fonterra Auction but traded through the 0.8405 support level during the Asia session.
The FOMC minutes report out at 6:00am this morning had a slightly bullish tone. The Fed officials’ wording that the U.S. labour situation continues to improve fell into the camp of monetary policy hawks, as it hinted the U.S. central bank could move to raise interest rates sooner than many expected.
Global equity markets were mostly higher on the day - Dow +0.5%, Nikkei -0.1%, Shanghai -0.2%, FTSE+1.1%, DAX +1.4%
Gold prices are lower closing at USD$1290 (down -$6.50). Oil prices are up by 1.68%.
The current indicative mid-rates are:
NZDUSD 0.8381
NZDEUR 0.6321
NZDGBP 0.5051
NZDJPY 86.96
NZDAUD 0.9022
NZDCAD 0.9191
There are only minor NZ data releases today with traders now focusing on Chinese Manufacturing data released at 3:00pm
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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