HiFX Morning Update, March 3 2016

HiFX Morning Update, March 3 2016

NZDUSD 0.6640 0.2%
NZDEUR 0.6113 0.2%
NZDGBP 0.4718 -0.6%
NZDJPY 75.40 -0.4%
NZDAUD 0.9110 -1.3%
NZDCAD 0.8930 0.6%

The NZDUSD opens at 0.6640 (mid-rate) this morning.

The NZD continues to trade the range against the majority of its trading partners with the AUD the exception following their stronger than expected Q4 GDP data release. The NZDAUD is currently trading at 0.9110 down almost 1.5 cents from yesterday's high.

Overnight another strong employment number out of the U.S. has added to optimism over the strength of the U.S. economy as well as adding to expectations for the Federal reserve to hike interest rates again this year. The U.S. private sector employment increased by 214k jobs in February following an increase of 193k jobs in January. Economists had predicted employment to rise by about 185k jobs.

Global equity markets are mixed - Dow -0.1%, S&P 500 -0.2%, FTSE -0.09%, DAX +0.61%, CAC +0.41%, Nikkei +4.11%, Shanghai +4.26%.

Gold prices are up $10 trading at $1240 an ounce, WTI Crude Oil has continued to edge higher currently up 0.7% at $34.63 a barrel.

Domestic Data
13:30 - ANZ Commodity Prices m/m

Upcoming Data releases (NZST):
13:30 - ANZ Commodity Prices m/m

ends

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