The NZDUSD opens at 0.7194 (mid-rate) this morning.
The NZD is at a five week high against the USD with the USD continuing to struggle following Donald Trump's warning that an elevated domestic currency would dampen US competitiveness. The NZD received an added boost with last night’s GDT auction increasing by 0.6% following a 3.9% fall a fortnight ago.
The British Pound has been the strongest performing currency over the past 24hrs after UK Prime Minister Theresa May announced that the UK would seek a clean break from the European Union (hard Brexit) while confirming that the government would “put the final deal that's agreed between the U.K. and the EU to a vote in both Houses of Parliament before it comes into force,"
Consumer price inflation in the UK for the month of December printed ahead of expectations with the National Statistics report showing an increase of 1.6% following a 1.2% increase in November, economists had expected an increase of 1.4%.
Global equity markets with the Shanghai being the exception are lower - Dow -0.22%, S&P 500 -0.21%, FTSE -1.46%, DAX -0.13%, CAC -0.46%, Nikkei -1.48%, Shanghai +0.17%.
Gold prices have gained 1% over the past 24hrs currently up 0.4% at $1,214 an ounce, WTI Crude Oil has edged higher currently up 0.8% at $52.73 a barrel.
Current indicative rates:
NZDUSD 0.7194
NZDEUR 0.6721
NZDGBP 0.5809
NZDJPY 81.25
NZDAUD 0.9532
NZDCAD 0.9395
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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