The NZDUSD opens at 0.6535 (mid-rate) this morning.
The NZD softened on Friday along with commodity and equity markets with investors positioning their portfolios in anticipation of a Fed hike in December.
Friday’s Euro-zone economic confidence remained unchanged at 106.1 in November (its highest level since May 2011) but the EU went on to point out that the majority of the survey results were collected before the Nov 13th Paris attacks.
The highlight for the NZD today will be this afternoons business confidence report due out at 13:00, while Thursday’s ECB policy decision and Friday nights U.S. non-farm-payrolls release (should be the last piece of the Fed will they or wont they lift-off jigsaw) will be this week’s key drivers.
Global equity markets closed out the week slightly lower- Dow -0.08%, S&P 500 +0.06%, FTSE -0.28%, DAX -0.24%, CAC -0.32%, Nikkei -0.30%, Shanghai -5.48%.
Gold prices have fallen for the sixth consecutive week closing at $1056 an ounce, WTI Crude Oil closed out the week back below $42 finishing at $41.71 a barrel.
Current indicative rates:
NZDUSD 0.6535 -0.5%
NZDEUR 0.6170 -0.4%
NZDGBP 0.4345 -0.1%
NZDJPY 80.30 -0.3%
NZDAUD 0.9080 0.1%
NZDCAD 0.8730 0.0%
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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