HiFX Morning Update, June 1 2016

HiFX Morning Update, June 1 2016

NZDUSD 0.6763 1.0%
NZDEUR 0.6073 1.0%
NZDGBP 0.4670 2.0%
NZDJPY 74.86 0.6%
NZDAUD 0.9354 0.4%
NZDCAD 0.8865 1.4%

The NZDUSD opens at 0.6763 (mid-rate) this morning.

Following better than expected data releases, with both NZ business confidence and building consents exceeding expectations the NZD out-performed all of its major trading partners during our trading day.

Overnight U.S. data releases delivered a mixed bag with Personal spending in the U.S. increasing by more than expected in April, while both consumer confidence and the Chicago PMI numbers disappointed.

The Canadian dollar and the British pound have both fallen sharply after Canada’s GDP fell further than expected unexpectedly (-0.2 vs. expected-0.1) while the British pound was punished after the latest Brexit phone poll revealed a 52% - 48% split in favour of exiting the Euro-zone.

European and U.S. equity markets are broadly lower- Dow -0.74%, S&P 500 -0.41%, FTSE -0.64%, DAX -0.68%, CAC -0.53%, Nikkei +0.98%, Shanghai +3.34%%.

Gold prices have retraced yesterdays fall currently up 0.9% trading at $1216 an ounce, WTI Crude Oil has slipped lower currently down 1% trading at $49.10 a barrel.

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