The NZDUSD opens at 0.7312 (mid-rate) this morning.
The NZD lost ground early in the European trading session weighed down by falling commodity prices and with the latest Fonterra GDT Price Index dipping 8.8% the NZDUSD has settled just above 0.7300.
Overnight US housing starts data suffered its sharpest drop in activity in a year (due mainly to February’s big Freeze) but with investors awaiting tomorrow mornings FOMC the dollar has had a relatively subdued night.
Global equity markets are mixed - Dow -0.55%, Nikkei +0.99%, Shanghai +1.55%, FTSE +0.49% DAX -1.54%, CAC -0.64%.
Gold prices are down $5 currently trading at $1148, Oil (WTI) plunged 4% trading below $43.00 for the first time in 6 years.
The current indicative mid-rates are:
NZDUSD 0.7312
NZDEUR 0.6901
NZDGBP 0.4955
NZDJPY 88.75
NZDAUD 0.9601
NZDCAD 0.9335
Domestic data releases today:
10:45 – Current Account
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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