The NZDUSD opens at 0.6523 (mid-rate) this morning.
The NZDUSD continues to trade between 0.65 and 0.66 as the market awaits local data releases for further direction.
Friday’s Euro-zone Q3 GDP printed just shy of economists estimates of 0.4% with a final reading of 0.3% placing more pressure on the ECB to ease further.
The U.S data releases were once again a mixed bag with the Retail sales and PPI m/m for October coming up short of economists estimates while consumer sentiment and business inventories were better than anticipated.
The Retail sales inched up by 0.1% vs. exp 0.3% in October while the Michigan consumer sentiment index for November came in at 93.1 vs. exp 92.0 compared to the final October reading of 90.0.
The main driver for the NZD today will be this morning’s Retail sales Report while Tuesdays Inflation Expectations quarterly report and Wednesday mornings Global Dairy Trade Auction will also be key drivers.
Global equity markets finished the week broadly lower - Dow -1.16%, S&P 500 -1.12%, FTSE -0.98%, DAX -0.69%, CAC -1.31%, Nikkei -0.51%, Shanghai -1.43%.
Gold prices fell for the fourth consecutive week closing out the week at $1080.90 an ounce (a new 5yr low). WTI Crude Oil closed out the week at $40.74 a barrel on Friday a level last seen in August.
Indicative mid-rate pricing:
NZDUSD 0.6523 0.0%
NZDEUR 0.6081 0.4%
NZDGBP 0.4287 0.0%
NZDJPY 79.85 -0.3%
NZDAUD 0.9182 0.2%
NZDCAD 0.8699 0.3%
Upcoming Data releases (NZST):
- 10:45 - Retail Sales q/q
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