HiFX Morning Update, July 10

HiFX Morning Update, July 10

NZDUSD 0.6730 +0.0%
NZDEUR 0.6100 +0.3%
NZDGBP 0.4375 -0.1%
NZDJPY 81.65 +0.7%
NZDAUD 0.9035 -0.3%
NZDCAD 0.8555 -0.2%

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The NZDUSD opens the same as yesterday at 0.6730.

The Australian Unemployment Rate was 6.0% in June. The Australian economy added 7,300 jobs to 11,768,600 exceeding expectations of a flat reading in June.

Global economic concerns eased overnight after the Chinese stock market staged a strong comeback and investors remain optimistic that a Greek solution can be found.

Greece has promised to implement pension and tax reforms to win fresh aid from sceptical creditors. Greek Prime Minister Alexi Tsipras told European parliament that he would submit a detailed reform plan to the Eurozone today aimed at resolving the country's debt crisis.

Germany's exports grew unexpectedly in May, taking the trade surplus to a record high. It was the fastest growth since December, when it grew 2.9%. In April, exports had climbed 1.6%.

The Bank of England kept its record low, key interest rate, and the size of the quantitative easing unchanged as policymakers examine risks emanating from the Greek crisis.

Core machine orders in Japan advanced 0.6% in May. The headline figure easily beat forecasts for a decline of 0.5% following the 3.8% increase in April.

Global equity markets were up overnight. Dow +0.54%, S&P 500 +0.56%, FTSE +1.40%, DAX +2.32%, CAC +2.55%, Nikkei +0.60%, Shanghai +5.76%, Hang Seng +3.73%.

The Gold price is flat at $1161.38 an ounce, Oil (WTI) is up to $53.01 a barrel.
Upcoming Data releases:
AUD Home Loans m/m - 1:30pm
USD Fed Chair Yellen speaks - 4:30am
CAD Employment Change - 12:30am
CAD Unemployment Rate - 12:30am

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