The NZDUSD opens at 0.8073 this morning.
The NZD$ is little changed, with yesterdays Fonterra announcement having minimal impact on the currency.
Overnight a combination of strong US housing data (new home sales 504k vs. 432k) and Draghi’s comments that Euro stimulus will remain for an extended period, has seen the US dollar index rise 0.43% to a four year high of 85.09. EURUSD has now broken down through its 1.2800 support level trading at 1.2775 as I type.
Draghi’s comments have also had a positive effect on global equity markets with both the US and European markets trading higher.
Global equity markets - Dow +0.70%, Nikkei -0.24%, Shanghai +1.47%, FTSE +0.45% DAX +0.70%
Gold prices are down $6.00 trading at USD$1216 (+$3.40), Oil price $93.21 (+$1.65)
The current indicative mid-rates are:
NZDUSD 0.8073
NZDEUR 0.6314
NZDGBP 0.4940
NZDJPY 87.99
NZDAUD 0.9098
NZDCAD 0.8927
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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