The NZDUSD opens lower at 0.7530 this morning.
The recent positive local data kept the NZD elevated overnight amongst broader USD strength. Fonterra maintained is $4.70 pay out forecast and both net migration and the NZ Trade Balance beat expectations.
Overnight
- US Consumer Price Index - January 2015 - the Consumer Price Index for All Urban Consumers (CPI-U) declined 0.7 percent in January on a seasonally adjusted basis
- US Unemployment Insurance Weekly Claims In the week ending February 21, the advance figure for seasonally adjusted initial claims was 313,000, an increase of 31,000 from the previous week's revised level.
Global equity markets mainly up on the day – Dow -0.1%, Nikkei +1.86%, Shanghai +3.54% FTSE+0.2%, DAX +1.0%.
Gold prices finished -0.1 % at USD$1,209. Oil finished at -4.41%.
The current indicative mid-rates are:
NZDUSD 0.7532
NZDEUR 0.6724
NZDGBP 0.4886
NZDJPY 89.90
NZDAUD 0.9640
NZDCAD 0.9425
USD Prelim GDP q/q release over night.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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