The NZDUSD opens at 0.7891 this morning.
After trading as low as 0.7795 on Friday the NZDUSD has rallied back to sit just below 0.7900 with investors regaining their risk appetite after Wall Street closed out its best week in nearly two years.
The U.S. Pending Home Sales rebounded In September from a notable pull back in the month of August. The figures released showed the pending home sales index inched up by 0.3 percent to 105.0 in September after falling by 1.0 percent to 104.7 in August.
German business confidence deteriorated for the sixth consecutive month and now sits at its lowest level since December 2012. The business confidence index fell to 103.2 in October, down from 104.7 in September. The market was expecting a fall back to 104.5.
Global equity markets with the Nikkei being the exception are lower - Dow -0.09%, Nikkei +0.63%, Shanghai -0.51%, FTSE -0.40% DAX -0.95%, CAC -0.78%
Gold prices dipped overnight currently trading down $2 to $1229, Oil prices are trading at $80.63 a barrel down $1.85
The current indicative mid-rates are:
NZDUSD 0.7891
NZDEUR 0.6210
NZDGBP 0.4893
NZDJPY 85.01
NZDAUD 0.8962
NZDCAD 0.8873
There are no domestic data Releases today.
Thursday we have the Fed rate announcement.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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