The NZDUSD opens at .6638 (midrate) this morning
Friday’s CPI Inflation Data release from the U.S surprised the market – U.S Inflation rose by 2.2 percent annually, the most in January for 4½ years
This initially saw the USD rally and the markets increasing the likelihood of a Federal Reserve interest rate hike in 2016 from 25 percent to 40 percent.
The GBP strengthened after UK retail sales data came in better than expected but that move has reversed after London mayor Boris Johnson confirms he will campaign to take Britain out of the EU.
While it’s a relatively light data week in NZ, watch for plenty of speeches from US Federal reserve members as well as U.S GDP Data out on Friday night.
The WTI Crude Oil price is down to $29.64 a barrel.
Global equity markets closed lower on Friday - Dow -0.13%, S&P 500 -0.05%, FTSE -0.36%, DAX -.80%, CAC -.39%, Nikkei -1.42%, Shanghai -0.10%.
Gold prices are down .40%, trading at $1225 an ounce.
Current indicative rates:
NZDUSD 0.6638 0.1%
NZDEUR 0.5970 0.0%
NZDGBP 0.4657 0.6%
NZDJPY 74.6 -0.9%
NZDAUD 0.9292 0.2%
NZDCAD 0.9141 0.4%
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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