The NZD opens pretty flat at 0.6512.
There has been reasonably little movement in the currencies overnight, with no major news leading to the market trading sideways.
Stocks have rebounded quite strongly off their recent lows, and are still going through a period of heightened volatility. If the respite is only temporary and they continue to sell off, it does not bode well for risk currencies like the NZD and AUD.
The Pound continues to weaken. Raab, the UK Brexit secretary said the risk of a no-deal Brexit is real if the EU engages in intransigent approach. As always these days, no positive news is a negative for the Pound.
Advanced GDP out of the States tonight is expected to come in lower at 3.3%, still strong, but lower than the 4.2% achieved last quarter.
Global Equity markets have bounced back, - Dow +1.55%, S&P 500 +2.01%, FTSE +0.59%, DAX +1.03%, CAC +1.60%, Nikkei -3.72%, Shanghai +0.02%.
Gold prices are up a touch at $1,232 an ounce, with WTI Crude Oil prices flat trading at $67.50 a barrel.
Current indicative rates:
Upcoming Data releases (NZST):
- 01:30- US Advanced GDP q/q
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