The NZDUSD opens lower at 0.7755 this morning.
The NZD slipped lower in yesterday’s session after the release of China inflation data. USD strength saw this move continue with the NZD giving up the majority of its weekend’s gains.
Minor European data out last night in the form of the monthly Italian Industrial Production which came in at -0.9% vs market expectation +0.2% and Sentix Investor Confidence -11.9 vs market expectation of -6.9
Continued confidence in the US rate hike story fuelled by improving labour numbers is likely to keep downward pressure on recent NZD support
Global equity markets were mainly up on the day – Dow +0.1%, Nikkei -0.6%, Shanghai +0.8%, FTSE+0.7%, DAX +0.7%
Gold prices dropped 0.9% to USD$1,158. Oil prices plunged 1.4% on the day.
The current indicative mid-rates are:
NZDUSD 0.7755
NZDEUR 0.6240
NZDGBP 0.4890
NZDJPY 89.00
NZDAUD 0.8990
NZDCAD 0.8810
On the day - NAB Business Confidence 1:30pm
----------------------------------------------------------
To subscribe to our free daily Currency Rate Sheet and News email, enter your email address here.
----------------------------------------------------------
Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.