HiFX Morning Update, February 4 2016
The NZDUSD opens at 0.6685 (mid-rate) this morning.
The NZD has been the strongest performing currency over the past 24hrs, following yesterday’s better-than-expected
employment report. The NZD is currently trading at 4-week highs against the USD.
The U.S. data releases sent mixed messages to the market with the US ADP employment data release printing slightly
better than expected at 205k vs.193k, while the US ISM non-manufacturing index fell to 53.5, vs. 55.1, the weakest in
nearly two years. The driver for the USD fall followed comments from Fed Gov Dudley warning that the deteriorating
outlook about the global growth and the dollar strength would hurt the U.S. economy.
Overnight, tonight the BOE, in their first meeting of the new year release their monetary policy statement and inflation
report.
Global equity markets are broadly lower- Dow -0.02%, S 500 -0.08%, FTSE -1.43%, DAX -1.53%, CAC -1.33%, Nikkei -3.15%, Shanghai -0.38%.
Gold prices are up 1.5% currently trading at $1140 an ounce, WTI Crude Oil has reversed yesterday’s fall currently up 5%
at $31.75 a barrel.
ends