The NZDUSD opens at 0.7575 (mid-rate) this morning.
Yesterday the release of NZ CPI coming in at -0.2% q/q vs consensus expectation of 0.0%, saw the kiwi was lower initially.
Then the NZD was sharply lower on the crosses overnight as the Bank of Canada surprised the market with a rate cut. The new year has seen several surprises for the market which will keep everyone on their toes.
Overnight sees the much anticipated ECB Press Conference – with initial reports suggesting they are looking for EUR50 billion a month bond purchases – quantitative easing measures.
Global equity markets were mixed. - Dow -0.62%, Nikkei -0.49%, Shanghai +0.18%, FTSE +1.63% DAX +0.41%, CAC +0.87%
Gold prices are up $1 at USD1293 , Oil prices are again lower to $46.39
The current indicative mid-rates are:
NZDUSD 0.7575
NZDEUR 0.6540
NZDGBP 0.5005
NZDJPY 89.20
NZDAUD 0.9350
NZDCAD 0.9350
Domestic data releases today:
10:45am - NZ Business NZ Manufacturing Index
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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