The NZDUSD opens at 0.7447 (mid-rate) this morning.
The NZD is lower against all of its major trading partners with the AUD being the only exception, following the release of yesterdays disappointing trade data out of China. In immediate response to the release the NZD fell from 0.7540 to 0.7490 and has continued to slide overnight before finding support at 0.7425.
This morning’s Business Confidence release will be the focus for domestic traders, while tonight’s U.S. Retail Sales data will be the key driver for USD.
Global equity markets have started the week mixed - Dow -0.33%, Nikkei -0.01%, Shanghai +2.17%, FTSE -0.36% DAX -0.29%, CAC +0.26%
Gold prices are down $9 trading at $1198, Oil (WTI) is little changed at $51.96
The current indicative mid-rates are:
NZDUSD 0.7447
NZDEUR 0.7046
NZDGBP 0.5074
NZDJPY 89.41
NZDAUD 0.9817
NZDCAD 0.9382
Domestic data releases today
10:00 - NZIER Business Confidence
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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