The NZDUSD opens higher at 0.7560 this morning.
The NZD was one of the better performing currencies overnight. The Global Dairy Trade price index finished up +1.1% from the previous auction with Whole Milk Powder finishing -1% at USD 3,241.
The RBA also help in the rally with yesterday’s decision to leave cash rates on hold at 2.25%. The accompanying RBA statement had clear easing bias and the NZD/AUD remains at elevated levels.
Overnight:
German Retail turnover in January 2015: +5.3% in real terms on January 2014.
Spanish employment numbers beat expectations: The number of unemployed registered at the offices of the Public Employment Services has dropped in February by 13,538 people. This is the best performance of unemployment in this month since 2001.
Global equity markets mainly down – Dow -0.5%, Nikkei -0.1%, SHCOMP -2.2% FTSE-0.7%, DAX -1.1%.
Gold prices finished -0.3 % at USD$1,205. Oil finished at +1.31%.
The current indicative mid-rates are:
NZDUSD 0.7560
NZDEUR 0.6755
NZDGBP 0.4915
NZDJPY 90.40
NZDAUD 0.9650
NZDCAD 0.9430
On The Day:
AUD GBP at 1:30pm
Fed Chair Yellen Speaking 2:15pm
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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