The NZDUSD opens at 0.7238 (mid-rate) this morning.
The NZDUSD has gapped lower on the open this morning after closing at 0.7258 (NY close).
The release of China’s Manufacturing PMI (49.8 vs. 50.3 the first dip in the official PMI below the 50.0 level since September 2012) should continue to put downward pressure on the NZD ahead of Wednesday’s Fonterra Auction.
Global equity markets with the Nikkei being the exception closed lower on Friday - Dow -1.45%, Nikkei +0.39%, Shanghai -1.59%, FTSE -0.90% DAX -0.41%, CAC -0.59%.
Gold prices closed out the week sharply higher at $1,283 (+$25), Oil prices also had a strong finish to the week up 7.31% to $47.85 a barrel.
The current indicative mid-rates are:
NZDUSD 0.7238
NZDEUR 0.6412
NZDGBP 0.4798
NZDJPY 85.10
NZDAUD 0.9362
NZDCAD 0.9210
There are no NZ data releases today
14:45 – CNY HSBC Final Manufacturing PMI
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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