The NZDUSD opens at 0.6650, 0.9% lower than Friday’s open.
With 60% of the vote in of the Greek Referendum there is a clear majority (61%) for “NO” as the Greek people have rejected the austerity measures proposed by their creditors.
There is a call by the Greek Finance Minister Yanis Varoufakis for the partners to find “common ground,” after earlier accusing Athens’ creditors of “terrorising” Greece.
The services sector in China continued to expand in June, but at a slower pace, the latest PMI from HSBC Bank showedon Friday, with a PMI score of 51.8. That's down from 53.5 in May, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. The composite index came in at 50.6, down from 51.2 in the previous month and touching a 13-month low.
The services sector in Japan continued to expand in June, and at a faster rate, the latest Nikkei Services PMI showed on Friday, with an eight-month high score of 51.8. The composite index came in at 51.5, easing from 51.6 in the previous month.
The total value of Retail Sales in Australia gained a seasonally adjusted 0.3% in May, the Australian Bureau of Statistics said on Friday - coming in at A$24.154 billion. That was shy of forecasts for an increase of 0.5% following the downwardly revised 0.1% decline in April (originally flat). Sales were up 0.2% in March.
NZDUSD 0.6650 -0.9%
NZDEUR 0.6045 -0.2%
NZDGBP 0.4275 -0.7%
NZDJPY 81.05 -1.9%
NZDAUD 0.8920 +1.3%
NZDCAD 0.8370 -0.7%
Global equity markets were steady or down overnight Friday. Dow -0.16%, S&P 500 -0.03%, FTSE -0.00%, DAX -0.37%, CAC -0.57%, Nikkei +0.08%, Shanghai -5.77%, Hang Seng -0.84%.
Gold price is up at $1168.26 an ounce, Oil (WTI) is down 0.05% at $56.93 a barrel.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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