HiFX Morning Update, October 14 2015
NZDUSD 0.6674 -0.7%
NZDEUR 0.5862 -0.9%
NZDGBP 0.4374 -0.1%
NZDJPY 86.78 7.6%
NZDAUD 0.9178 0.5%
NZDCAD 0.8678 -0.7%
The NZDUSD opens at 0.6674 (mid-rate) this morning.
Yesterday’s disappointing China data has seen the NZD pull back from its recent high of 0.6740 . Although the trade
surplus printed ahead of economists estimates $60.34b vs. exp 48.2b, the continuing slide in exports down 3.7% in Sept
from a year ago and a sharp drop in imports down 20.4% has seen global equity markets as well as both the NZD and AUD
The overnight data releases will have only added to global risk with the U.K. once again entering into deflation (last
seen in April) and German economic confidence dropping to a one-year-low in October hampered by the Volkswagen exhaust
Today’s direction should be dictated by RBNZ Gov Wheelers speech at 9:10am followed by this afternoons CPI data release
out of China.
Overnight, tonight investors will look to the Euro-zone Industrial Production, and U.S. Retail Sales for further
Global equity markets are broadly lower - Dow +0.09%, S 500 -0.44%, FTSE -0.45%, DAX -0.86%, CAC -0.97%, Nikkei -1.11%, Shanghai +0.17%.
Gold prices are holding steady currently trading at $1164 an ounce, WTI Crude Oil has fallen back below $47 a barrel
currently trading at $46.80 (-0.5%)
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