HIFX Morning Update, May 22

HIFX Morning Update, May 22

The NZDUSD opens at 0.7320 this morning.

The NZD opens at similar levels to where we closed yesterday. The budget caused little movement reiterating more of the same to come. Net migration numbers were slightly more interesting showing just over 4,700 new Kiwis arrived at our shores during the month of April. Immediate support now sits around 0.73 the figure which was again tested in the early hours of this morning.

GBP was the main mover overnight on the back of better than expected retail sales data. It gained over a cent against the USD and also had strong gains against the NZD

Elsewhere weekly unemployment claims out of the US came in at 274k vs 270 forecasted which saw minor pressure on the Greenback.

Global equity markets largely unchanged on the day + Dow 0.0%, Nikkei +0.0%, Hang Seng -0.2% FTSE+0.1%, DAX +0.1%

Gold prices currently 0.1% at USD$1,205. Oil sitting up 0.1% at $60.77

The current indicative mid-rates are:

NZDUSD 0.7320
NZDEUR 0.6590
NZDGBP 0.4680
NZDJPY 88.65
NZDAUD 0.9290
NZDCAD 0.8945

ends

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