The NZDUSD opens at 0.8359 this morning.
The NZD$ continues to struggle falling 0.3% on Friday after the ANZ business survey came in below market expectations (+24.4 v +39.7).
In what was typically, light holiday weekend trading, the USD closed the week higher boosted after data showed that U.S. consumer sentiment rebounded in August, with the final reading of the University of Michigan’s consumer confidence index rising to 82.5 from 81.8 in June.
The big loser for the week was the EURO. The single currency remained under pressure after Fridays annual rate of inflation slowed to a five year low of 0.3% in August from 0.4% in July.
Global equity markets - Dow +0.11%, Nikkei -0.23%, Shanghai +0.97%, FTSE +0.2% DAX +0.08%
Gold prices are marginally lower at USD$1287, oil prices are up +1.49%.
The current indicative mid-rates are:
NZDUSD 0.8359
NZDEUR 0.6368
NZDGBP 0.5049
NZDJPY 87.02
NZDAUD 0.8961
NZDCAD 0.9089
Domestic data releases today:
10:45 - Overseas Trade Index q/q
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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