HiFX Morning Update

HiFX Morning Update

The NZDUSD opens at 0.7568 (mid-rate) this morning.

The NZDUSD traded as high as 0.7600 prior to the release of this morning’s Fed Minutes

The Fed minutes showed Federal Reserve officials are divided over when to begin raising interest rates, while some members still believe that the economic data and outlook were likely to warrant beginning the process of raising rates in June, others stated it would not be appropriate to begin raising rates until later in the year due to the effects lower energy prices and the dollar's appreciation have on inflation.

Euro-zone retail sales declined in February for the first time in five months, the decline was in line with economists' expectations.

German factory orders unexpectedly dropped for a second straight month in February. Factory orders declined by 0.9% from January vs. expectations of a 1.5% gain.

Global equity markets are mixed - Dow +0.03%, Nikkei +0.76%, Shanghai +0.84%, FTSE -0.35% DAX -0.72%, CAC -0.28%.

Gold prices are down $7 currently trading at $1202, Oil (WTI) is sharply lower down 6% currently trading at $50.65.

The current indicative mid-rates are:

NZDUSD 0.7568
NZDEUR 0.7008
NZDGBP 0.5085
NZDJPY 90.82
NZDAUD 0.9825
NZDCAD 0.9488

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