The Opening Bell: Where currencies start on Thursday, November 30, 2017

By Dan Bell

The NZDUSD opens at 0.6891 (mid-rate) this morning.

The NZD  drifted lower following the release of the RBNZ financial stability report, those hoping for a road map outlining the full removal of the LVR’s were left disappointed after RBNZ announced a modest easing of the LVR restrictions, from 1 January 2018, with the bank to monitor the impact of these changes before making further adjustments.

The British pound is again the strongest performing G10 currency after rumours that a preliminary agreement on a divorce settlement were confirmed. The financial settlement is the first of three areas which need to be agreed, with the rights of EU citizens in the UK after Brexit, and how to avoid a hard border between Northern Ireland and the Irish Republic, the other two key matters to be negotiated.

The USD received a boost after the Commerce Department reported Q3 gross domestic product surged up by an upwardly revised 3.3% from the previously reported 3.0% rise. The final reading had been forecast to increase to 3.2%.

Euro-zone economic confidence continues to improve, with the index reading for the month of November reaching a 17 year high of 114.6 following a 114.1 result in October.

Global equity markets are mixed - Dow +0.22%, S&P 500 -0.24%, FTSE -0.90%, DAX +0.02%, CAC +0.14%, Nikkei +0.49%, Shanghai +0.13%.

Gold prices are down 0.8% currently trading at $1,295 an ounce. WTI Crude Oil prices continue to slide, down 0.8%, trading at $57.37 a barrel.

Current indicative rates:

NZDUSD    0.6891     -0.4%
NZDEUR    0.5807     -0.4%
NZDGBP    0.5132     -1.1%
NZDJPY      77.05       0.1%
NZDAUD    0.9095      0.0%
NZDCAD    0.8855     -0.1%
GBPNZD    1.9486      1.1%

Upcoming Data releases (NZST):

  • 10:45 - Building Consents
  • 13:00 - ANZ business Confidence

To subscribe to our free daily Currency Rate Sheet and News email, enter your email address here.

Email:  

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

Daily exchange rates

Select chart tabs »
The 'US$' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The 'AU$' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The 'TWI' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The '¥en' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The '¥uan' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The '€uro' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The 'GBP' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The 'Bitcoin' chart will be drawn here.
Loading...
USD 
NZD
End of day UTC
Source: CoinDesk

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

We welcome your comments below. If you are not already registered, please register to comment or click on the "Register" link below a comment.

Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current Comment policy is here.