The NZDUSD opens at 0.7331 (mid-rate) this morning.
The NZDUSD is lower on the open this morning with the USD gaining ground against all of its major competitors after the stronger than expected January employment report.
Non-farm payroll employment rose by 257k jobs in January (expected 230k), the revised data also came in strong with November and December jumping by 423,000 jobs and 329,000 jobs, respectively, reflecting a net upward revision of 147,000.
The U.K. trade deficit widened to the highest in four years in 2014 with both exports and imports for the year declining (exports were down by GBP 14.6 billion, imports were down by GBP 7.3 billion.
Yesterday saw the release of Chinese trade data which came in well below market expectations. Imports plunged by 19.9% y/y (a 3.2% fall exp.), while exports dropped by 3.3% (a 5.9% gain exp.).
Global equity markets with the Nikkei being the exception closed lower on Friday - Dow -0.35%, Nikkei +0.82%, Shanghai -1.93%, FTSE -0.18% DAX -0.54%, CAC -0.26%.
Gold prices closed out the week sharply lower at $1233 (-$28), Oil prices strengthened throughout the week closing up 3% at $51.69 a barrel on Friday (up 8.8% on the week).
The current indicative mid-rates are:
NZDUSD 0.7331
NZDEUR 0.6478
NZDGBP 0.4811
NZDJPY 87.25
NZDAUD 0.9438
NZDCAD 0.9198
There are no NZ data releases today
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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