The NZDUSD opens at 0.6910.
The Kiwi found some reprieve in yesterday’s session managing to pop up through 0.6900 but remained very much range bound overnight as the market still waits for signs of progress in the Greek situation.
This kept US equities on the back foot and better than expected minor US data failed to have any impact on currency markets.
US Personal Spending Rose 0.9% in May beating the 0.7% consensus estimate.
This morning we have NZ May Trade balance at 10:45am which is a potential market mover. Elsewhere, only minor data which shouldn’t trouble markets.
Global equity markets broadly down on the session with the exception of the DAX. Dow -0.42%, Nikkei -0.46 Hang Seng -0.95% FTSE-0.54%, DAX +0.02%
Gold prices currently +0.04% at USD$1,172. Oil sitting down -0.10% at $59.64.
The current indicative mid-rates are:
NZDUSD 0.6910
NZDEUR 0.6165
NZDGBP 0.4385
NZDJPY 85.40
NZDAUD 0.8925
NZDCAD 0.8515
On the session we have NZ Trade Balance at 10:45am.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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