HiFX Morning Update

HiFX Morning Update

NZDUSD 0.6692 -0.3%
NZDEUR 0.6080 0.5%
NZDGBP 0.4321 -0.2%
NZDJPY 82.61 0.6%
NZDAUD 0.9032 -0.1%
NZDCAD 0.8525 0.0%

The NZDUSD opens -0.3% lower this morning at 0.6692.

On the back of Greece reaching a deal the market is still digesting the details of a third bailout package for Greece. It requires the Greek government to make more profound changes to pensions, energy, labor, product markets and the privatization program.

Demands met, the euro started to fall and the USD emerged as the King as the NZD gave up yesterdays gains. The worlds stock markets have also been boosted from this.

GBP was the best performer among European currencies and is holding strong against the NZD.

Food prices in New Zealand advanced 0.5% on month in June.

World equity markets are in positive territory with Shanghai leading the way Dow +1.26%, S&P 500 -1.03%, FTSE +0.97%, DAX +1.49%, CAC +1.94%, Nikkei +1.57%, Shanghai +2.39%, Hang Seng +1.30%.

Gold is flat at $1157.63 an ounce, Oil (WTI) is down slightly at $52.09 a barrel.

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