The Opening Bell: Where currencies start on Thursday, December 14, 2017

By Dan Bell

The NZDUSD opens at 0.6991 (mid-rate) this morning.

The NZD has put in another strong performance ahead of this morning’s long awaited FOMC statement.

Earlier this morning the USD came under pressure after the US Labour Department CPI data report showed core consumer prices missed economists’ forecasts in November. Core prices which exclude food and energy edged up by 0.1% in November following a 0.2% rise in October and just shy of the 0.2% forecast. This softening of core inflation will cast doubts on the Fed’s ability to hike rates early in 2018.

The UK Office for National Statistics employment report showed unemployment remained at its lowest level since the March to May quarter of 1975. The unemployment rate has spent the last two quarters from May through to October at 4.3%. The reading was in line with expectations.

Direction will obviously be driven by this morning’s announcement, with a hike fully priced in it will be the Fed’s forecast on future hikes that will dictate USD direction.

Global equity markets remain mixed - Dow +0.56%, S&P 500 +0.28%, FTSE -0.05%, DAX -0.44%, CAC -0.51%, Nikkei -0.47%, Shanghai +0.68%.

Gold prices have retraced yesterday’s fall up 0.6% to $1,245 an ounce. WTI Crude Oil prices have slipped lower, down 1.2% trading at $56.71 a barrel.

Current indicative rates:

NZDUSD    0.6991      0.9%
NZDEUR    0.5941      0.6%
NZDGBP    0.5235      0.6%
NZDJPY      79.07       0.5%
NZDAUD    0.9192      0.2%
NZDCAD    0.8995      0.8%
GBPNZD    1.9101     -0.6%

Upcoming Data releases (NZST):

  • 08:00 - FOMC Statement
  • 08:30 - FOMC Press Conference
  • 13:30 - Australian Employment Report

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 'Bitcoin' chart will be drawn here.
Loading...
USD 
NZD
Daily benchmark rate
Source: CoinDesk
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...
End of day NY time
Source: RBNZ

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.