HiFX Morning Update - August 11

HiFX Morning Update - August 11

NZDUSD 0.6612 0.1%
NZDEUR 0.6004 -0.3%
NZDGBP 0.4241 -0.5%
NZDJPY 82.40 0.4%
NZDAUD 0.8928 0.1%
NZDCAD 0.8605 -0.7%

The NZDUSD opens at 0.6612 (mid-rate) this morning.

In the absence of any notable data releases the NZDUSD has had a relatively quiet night, firstly drifting down to trade as low as 0.6558 before retracing back above 0.6600 on the back of strengthening commodity prices.

There were mixed messages from Atlanta Fed Governor Dennis Lockhart after he stated that policy makers are “close to hiking rates” but fell short of mentioning “September”, with some economists now believing December is the more likely time for the first rate hike.

Global equity markets have had a strong start to the week - Dow +1.37%, S&P 500 +1.25%, FTSE +0.26%, DAX +0.99%, CAC +1.63%, Nikkei -0.16%, Shanghai +4.92%.

Gold prices are currently trading back above $1100 an ounce, up $11 to $1102.50, WTI Crude Oil has also had a strong start to the week up 2.1% to $44.79 a barrel.

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