HiFX Morning Update, March 10 2016

HiFX Morning Update, March 10 2016

NZDUSD 0.6790 0.5%
NZDEUR 0.6151 0.2%
NZDGBP 0.4773 0.4%
NZDJPY 76.80 0.9%
NZDAUD 0.9040 -0.2%
NZDCAD 0.8995 -0.7%

The NZDUSD opens at 0.6790 (mid-rate) this morning.

Increased risk appetite and a rebound in commodity prices, led by crude oil, has seen the NZD out-perform ahead of this morning’s RBNZ rate statement.

Last night U.K. industrial production increased for the first time in three months, in January, but the monthly increase of 0.3% fell short of economists estimates of a 0.6% increase from Decembers -1.1% decline.

Overnight the European Central bank is expected to cut its deposit rate by 10 basis points to minus 0.4% in an effort to boost inflation and stimulate economic growth.

Gold prices have given back some of their recent gains currently down $8 trading at $1257 an ounce, WTI Crude Oil has rebounded overnight currently up 4% trading at $37.95 a barrel.

Upcoming Data releases (NZST):
09:00 - RBNZ Rate Statement
09:05 - RBNZ Rate Statement
12:10 - RBNZ Gov Wheeler Speaks
14:30 - CNY CPI y/y

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