HiFX Morning Update

HiFX Morning Update

The NZDUSD opens at 0.7720 (mid-rate) this morning.

The USD has lost ground against all of its major competitors on the back of another disappointing night of US data releases and uncertainty ahead of tomorrow mornings FOMC interest rate meeting.

On the local front uncertainty ahead of tomorrow mornings RBNZ has seen the NZDAUD cross rate trade down to 0.9620.

The U.S. Consumer Confidence fell sharply in the month of April after its strong showing in March. The index dropped to 95.2 in April from an upwardly revised 101.4 in March.

The UK economy expanded at its slowest pace since Q4 2012. The GDP was expected to slow to 0.5% marginally lower than the Q4 2014 0.6% result, but yesterdays data release showed the UK economy grew at just 0.3% in Q1 2014.

Global equity markets are mixed- Dow +0.06%, Nikkei +0.38%, Shanghai -1.13%, FTSE -1.03% DAX -1.89%, CAC -1.81%

Gold prices continue to rally up $11 to $1213 Oil (WTI) is holding steady at $56.95 a barrel

The current indicative mid-rates are:

NZDUSD 0.7720
NZDEUR 0.7032
NZDGBP 0.5035
NZDJPY 91.75
NZDAUD 0.9635
NZDCAD 0.9285

ends

© Scoop Media