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The Opening Bell: Where currencies start on Thursday, March 5, 2015

Currencies
The Opening Bell: Where currencies start on Thursday, March 5, 2015

By Dan Bell

The NZDUSD opens higher at 0.7580 this morning.

The NZD again outperformed most of its trading pairs overnight topping out just above 0.7600 against the main resistance level before settling at current levels.

The NZD/AUD is again peppering all time highs and the NZD/EUR was also a noteworthy mover as the EUR sold off ahead of the ECB meeting

Overnight

  • Bank of Canada maintains overnight rate target at 0.75%. The bank rate is correspondingly 1 per cent with the deposit rate at 0.5%
  • Fed Member Evans says the low inflation environment calls for patience in normalising monetary policy

Global equity markets down – Dow -0.5%, Nikkei -0.6%, HANG SENG -1.0% FTSE-0.4%, DAX -1.0%

Gold prices finished -0.3 % at USD$1,201. Oil finished at -0.1%

The current indicative mid-rates are:

NZDUSD           0.7580
NZDEUR           0.6850
NZDGBP           0.4970
NZDJPY               90.80
NZDAUD           0.9705
NZDCAD           0.9420

On the session:
Australian Retail Sales m/m        1:30pm
Australian Trade Balance            1:30pm
 
Tomorrow:
ECB Press Conference
US Unemployment Figures
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »

Daily exchange rates

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Source: RBNZ
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End of day UTC
Source: CoinDesk

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