The NZDUSD opens at 0.7430 this morning.
The NZD benefited against a weaker Greenback following the release of poor US retail sales and higher than expected US unemployment insurance claims. These were released in the early hours of the morning and saw the Kiwi trade to 0.7480 before settling at current levels.
Overnight US Retail sales fell more than forecast in January. This followed a 0.9% drop in the prior month and was the first back to back decline since 2012 indicating consumer spending in the US might be cooling a little.
US unemployment insurance claims were higher than expected in the week ending 7th Feb increasing 25,000 to 304,000.
Global equity markets up on the day – Dow +0.45%, Nikkei +1.85%, Shanghai +0.5% FTSE+0.15%, DAX +1.56%.
Gold prices finished +0.9 % at USD$1,223. Oil finished +2.0% at $50.86.
The current indicative mid-rates are:
NZDUSD 0.7430
NZDEUR 0.6520
NZDGBP 0.4830
NZDJPY 88.40
NZDAUD 0.9600
NZDCAD 0.9280
Today we have RBA Gov Stevens speaking at 11:30
---------------------------------------------------------
To subscribe to our free daily Currency Rate Sheet and News email, enter your email address here.
----------------------------------------------------------
Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.