The NZDUSD opens lower at 0.7777 this morning.
Australia’s Trade Balance came out yesterday afternoon was a deficit of $1,547m in October 2014, a decrease of $82m (5%) on the deficit in September 2014. However in seasonally adjusted terms, the balance on goods and services was a deficit of $1,323m in October 2014, a decrease of $912m (41%) on the deficit in September 2014. Australian Retail Trade rose 0.4% in October 2014.
The Bank of England kept interest rates at a record low overnight as policymakers gave more weight to the risks from low inflation and a weak global economic outlook than to a strong recovery at home.
The European Central Bank’s Governing Council expects to consider a proposal for Quantative Easing / asset purchases including sovereign debt in January.
Global equity markets mixed on the day – Dow +0.03%, Nikkei +0.94%, Shanghai +4.3% FTSE-0.55%, DAX +1.2%.
Gold prices finished +0.9 % at USD$1,207. Oil finished at -0.7% at 66.86
The current indicative mid-rates are:
NZDUSD 0.7777
NZDEUR 0.6290
NZDGBP 0.4960
NZDJPY 93.20
NZDAUD 0.9280
NZDCAD 0.8850
There is no local data today.
Overnight:
- US Trade Balance, Unemployment Rate and Non Farm Payrolls
- Canadian Trade Balance, Unemployment Rate and Employment change
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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