The NZDUSD opens at 0.7715 (mid-rate) this morning.
The NZDUSD has traded to a new 2014 low overnight traders reportedly hitting bids just below 0.7700 taking out option barriers.
Overnight the USD continued strengthen after an unexpected acceleration in the pace of growth in U.S. manufacturing activity. The U.S. Manufacturing Index climbed to 59.0 in October from 56.6 in September, with a reading above 50 indicating growth in the sector.
The GBP also performed well overnight driven higher by stronger than expected manufacturing data. The seasonally adjusted Manufacturing Purchasing Managers' Index rose to a three month high of 53.2 in October from a seventeen month low of 51.5 in September.
European equity markets are lower - Dow +0.02%, Nikkei -closed Shanghai +0.41%, FTSE -0.89%, DAX -0.81%, CAC -0.92%
Gold prices continue to fall down $4 to $1,169 Oil prices were also lower trading at $80.40 (-0.07%)
The current indicative mid-rates are:
NZDUSD 0.7715
NZDEUR 0.6184
NZDGBP 0.4828
NZDJPY 87.95
NZDAUD 0.8881
NZDCAD 0.8763
Data Releases:
1:00 - ANZ Commodity Prices m/m
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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