The NZDUSD opens at 0.6576 (mid-rate) this morning.
In what has been a quiet start to the trading week the NZD has outperformed all of its major trading partners and opens this morning having made average gains of 0.7%.
Continuing the recent trend, the overnight U.S. data releases were once again mixed, with the U.S.
Housing Market Index inching up from 60 in July to 61 in August its highest level since Nov 2005.
In contrast the New York Manufacturing Index Tumbled to a six year low in August, falling from + 3.9 in July to a -14.9 in August.
The sharp drop can be attributed to the falling new orders index which slumped from +3.5 in July to -15.7 in August.
Overnight we have the latest GDT auction which will be the main focus for NZD traders.
Global equity markets remain mixed - Dow +0.36%, S&P 500 +0.47%, FTSE -0.01%, DAX -0.41%, CAC +0.57%, Nikkei +0.49%, Shanghai +0.71%.
Gold prices continue to rise, currently up $3 to $1116.25 an ounce, WTI Crude Oil is still falling down 1.4% to $41.85 a barrel.
NZDUSD 0.6576 0.6%
NZDEUR 0.5935 0.8%
NZDGBP 0.4216 0.9%
NZDJPY 81.82 0.6%
NZDAUD 0.8912 0.5%
NZDCAD 0.8605 0.5%
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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