The NZDUSD opens at 0.6870 this morning.
After staging a weak rally late in yesterday’s local session the NZD came under pressure in the London and New York sessions underperforming its peers amongst modest USD strength.
US Existing Home Sales came in better than expected for the month of May at 5.1% bringing the annual rate to 5.35 million.
Investors are also looking forward to a number of important reports later in the week including GDP on Wednesday.
The Greek saga continues to play out with no firm agreement yet to be in place however there are hopes after Athens submitted a revised economic reform proposal to which the Euro Group have responded with optimism.
Global equity markets had a strong session all finishing up +Dow +0.61%, Nikkei +1.26%, Hang Seng +1.2% FTSE+1.72%, DAX +3.81%
Gold prices currently -0.04% at USD$1,183. Oil sitting down +0.67% at $60.01
The current indicative mid-rates are:
NZDUSD 0.6870
NZDEUR 0.6055
NZDGBP 0.4340
NZDJPY 84.75
NZDAUD 0.8885
NZDCAD 0.8465
On the session we have China PMI release at 1:45pm
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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