The NZDUSD opens at 0.6859 (mid-rate) this morning.
The NZDUSD has benefited overnight from weaker than expected US data and is currently trading up 89 points or 1.3% from yesterday’s open.
First-time claims for U.S. unemployment benefits unexpectedly decreased in the week ended October 10th, with claims matching their lowest level in over forty years!
The report said initial jobless claims fell to 255,000, a decrease of 7,000 from the previous week's revised level of 262,000. The drop surprised economists, who had expected jobless claims to climb to 270,000 from the 263,000 originally reported for the previous week.
Consumer prices in the U.S. fell in line with estimates in the month of September, CPI index falling 0.2% after being down 0.1% in August.
The Federal Reserve Bank of New York said its reading on regional manufacturing activity increased in the month of October.
General business conditions index rose to a negative 11.4 in October from a negative 14.7 in September, but a negative reading continues to indicate a contraction in manufacturing activity. Economists had expected the index to climb to a negative 7.0.
Germany's manufacturing employment and earnings increased in August. In local manufacturing units, nearly 5.4 million people worked in August. Employment increased by about 52,000 or 1% from same period of last year.
Japan's industrial output declined more than estimated and tertiary industry activity grew only marginally in August falling 1.2% in August from July which was bigger than the 0.5% fall estimated.
Global equity markets are up across the board : Dow +1.09%, S&P 500 +1.26%, FTSE +1.10%, DAX +1.50%, CAC +1.44%, Nikkei -+1.15%, Shanghai +2.32%.
Gold prices are lower down $2 to $1185 an ounce, WTI Crude Oil is up currently trading at $47.17 a barrel.
Indicative mid-rate pricing:
NZDUSD 0.6859 1.3%
NZDEUR 0.6026 2.0%
NZDGBP 0.4429 1.2%
NZDJPY 81.50 1.2%
NZDAUD 0.9338 0.3%
NZDCAD 0.8810 0.5%
To subscribe to our free daily Currency Rate Sheet and News email, enter your email address here.
Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.