The Kiwi has fallen against the majors except the Japanese Yen which is up 0.2% overnight. The NZDUSD has traded a 102 point or 1.42% range in this shortened week, and will remain soft going into the long weekend as traders square their positions.
Oil prices pared some of their earlier losses after the U.S. Energy Information Administration said crude supplies rose by 1.6 million barrels for the week ended March 23. Analysts surveyed by S&P Global Platts had forecast a climb of 1 million barrels, while the American Petroleum Institute on Tuesdayreported a jump of 5.3 million barrels, according to sources.
The U.S. economy grew in the fourth quarter at a faster pace than last estimated, helped by an upward revision to household spending on services and a smaller drag from inventories, according to Commerce Department data released overnight.Gross domestic product grew at a 2.9% annualized rate, (est. 2.7%) revised from 2.5%.
U.S. Consumer spending, biggest part of the economy, grew 4% (est. 3.8%) revised from 3.8%.
The U.S. international trade deficit was $75.4 billion in February, up $0.1 billion from $75.3 billion in January. Exports of goods for February were $136.5 billion, $2.9 billion more than January exports.
U.S. Wholesale inventories for February, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $626.7 billion, up 1.1% from January 2018, and were up 5.7% from February 2017.
U.S. Retail inventories for February, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $628.1 billion, up 0.4% from January 2018.
Global equity markets are higher mixed: Dow +0.34%, S&P 500 +0.15%, FTSE +0.64%, DAX -0.25%, CAC +0.29%, Nikkei -1.34%, Shanghai -1.40%.
Gold prices have plummeted 1.4% or $19 trading at $1,325 an ounce. WTI Crude Oil prices have also plummeted 1.4% over the past 24 hours, trading at $64.38 a barrel.
Current indicative rates:
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