The Opening Bell: Where currencies start on Thursday, November 23, 2017

By Dan Bell

The NZDUSD opens higher at 0.6884 this morning.

The NZDUSD moved higher this morning after the release of the latest US Federal Reserve Monetary Policy Meeting Minutes. Many Fed officials saw a rate increase near-term, however many were concerned about weakening inflation and when it would rebound. Nearly all officials supported a gradual approach to raising interest rate – the market is almost universally expecting the Fed to raise interest rates again on 14th December (NZ time).

The USD weakened a little overnight after the release of weaker than expected US economic data – US Durable Goods Orders came in well short of forecasts, long-term Inflation expectations declined, however Consumer Sentiment was a little better than anticipated.

NZ Retail Sales numbers hit the tapes at 10:45am today.

It is US Thanksgiving holiday today – consequently, there are no settlements possible today.

Global equity markets were mixed on the day – Dow -0.3%, S&P500 -0.1%, FTSE +0.1%, DAX -1.2%, CAC -0.3%, Nikkei +0.5%, Shanghai +0.6%.

Gold prices are higher at USD$1,293.90 an ounce. Oil prices (WTI) increased to USD$58.03 per barrel.

Current indicative rates:

NZDUSD    0.6884      0.8%
NZDEUR    0.5822      0.0%
NZDGBP    0.5168      0.1%
NZDJPY      76.55      -0.4%
NZDAUD    0.9042      0.3%
NZDCAD    0.8745      0.3%
GBPNZD    1.9350     -0.1%

Upcoming Data releases (NZST):

  • 10:45am NZ Retail Sales

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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »

Daily exchange rates

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USD 
NZD
End of day NY time
Source: CoinDesk

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