The NZDUSD opens lower at 0.7802 this morning.
The kiwi opens lower against most of the crosses this morning sitting on support at 0.7800 after setting lows at 0.7765
Overnight the US Conference Board Consumer Confidence slumped to 88.7 from 94.1 in October.
The Present Situation Index declined from 94.4 to 91.3, while the Expectations Index decreased sharply to 87.0 from 93.8 in October.
US Prelim GDP q/q came in at 3.9% ahead of 3.3% expected.
Global equity markets mixed on the day – Dow +0.2%, Nikkei +0.3%, Shanghai +0.05% FTSE-0.02%, DAX +0.77%.
Gold price is trading +0.2 % at USD$1,197.91. WTI Crude Oil is trading at 74.34 -1.96%.
The current indicative mid-rates are:
NZDUSD 0.7802
NZDEUR 0.6254
NZDGBP 0.4965
NZDJPY 91.98
NZDAUD 0.9150
NZDCAD 0.8770
No data release due today.
Overnight:
- UK GDP and Total Business Investment
- Swiss UBS Consumption Indicator
- German GfK Consumer Confidence and 10yr Bond Auction
- US Core Durable Goods Orders, Unemployment claims and New Home Sales
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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