The NZDUSD opens at a mid rate of 0.7701 this morning.
With no significant data releases we saw a quiet session for the NZD overnight.
The Fonterra payout yesterday was revised down to $4.70 which was largely on market expectations and caused little disruption.
Oil and equity markets remain under pressure and RBNZ OCR release this morning will dominate news on the day for the Kiwi.
Global equity markets mixed on the day – Dow -0.8%, Nikkei -2.2%, Shanghai +2.9% FTSE-0.5%, DAX +0.1%.
Gold prices finished -0.3 % at USD$1,228. Oil hammered again finishing -4.4%.
The current indicative mid-rates are:
NZDUSD 0.7701
NZDEUR 0.6195
NZDGBP 0.4900
NZDJPY 91.30
NZDAUD 0.9285
NZDCAD 0.8840
On the day:
- NZ OCR 9:00 am
- Australian Unemployment Rate 1:30pm today
- US Core Retail Sales and Unemployment Claims overnight in the NY session
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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