The NZDUSD opens at 0.7959 this morning.
After trading up through 0.8000 on the back of yesterdays better than expected Chinese data releases, the NZDUSD now finds itself back within its current trading range (0.7750-0.7980).
US Existing home sales increased by more than anticipated in the month of September to rebound to its highest level in a year.
The European Central bank began its asset purchase program last night. It was reported the Bank had bought Italian covered bonds. Reports also suggested the ECB is considering purchasing corporate bonds.
Global equity markets are mixed - Dow +1.09%, Nikkei -2.03%, Shanghai -0.72%, FTSE +1.68% DAX +1.94%, CAC +2.25%.
Gold continues to rise up $4 to $1250, Oil prices are trading at $82.99 a barrel.
The current indicative mid-rates are:
NZDUSD 0.7959
NZDEUR 0.6241
NZDGBP 0.4934
NZDJPY 85.07
NZDAUD 0.9058
NZDCAD 0.8942
Data Releases:
Nothing for NZ, today out of Australia at 1:30 we have their CPI q/q.
Overnight we have the US CPI data release and the BOC Monetary Policy Report and Statement.
Out of the UK we have both the MPC Asset Purchase Facility Votes and the MPC Official Bank Rate Votes.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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