The NZDUSD opens at 0.8379 this morning.
The NZD$ traded to a high of 0.8405 yesterday afternoon helped higher by a very strong Australian CAPEX number (+1.1 v -0.9)
The overnight US data releases exceeded market expectations (US Q2 GDP 4.2% v 3.9%, US July Pending Home Sales 3.3% v 0.5%) which in turn helped the USD Index back up to 82.50 after it had fallen to a low of 82.35.
Equity markets are lower across the board as geopolitical tensions between Russia and the Ukraine escalate with satellite images appearing to show Russian tanks and troops crossing the border and entering the Ukraine.
Global equity markets - Dow -0.19%, Nikkei -0.48%, Shanghai -0.58%, FTSE -0.36% DAX -1.12%
Gold prices are higher at USD$1,289, oil prices are up +0.75%.
The current indicative mid-rates are:
NZDUSD 0.8379
NZDEUR 0.6356
NZDGBP 0.5052
NZDJPY 86.91
NZDAUD 0.8958
NZDCAD 0.9092
Domestic data releases today:
10:45 Building Consents m/m
13:00 ANZ Business Confidence
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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