HiFX Morning Update - June 20 2016

HiFX Morning Update - June 20 2016

The NZDUSD opens at 0.7070 (mid-rate) this morning.

The NZD traded sideways against the majority of its trading partners on Friday, with the British Pound proving to be the standout performer as the latest polls suggest the “Remain Campaign” has regained the lead.

There was very little in the way of economic data on Friday, with U.S housing starts dipping by 0.3% to an annual rate of 1.164mio in May from a downwardly revised 1.167mio in April, economists had expected the number to dip to 1.150mio from the previously reported 1.172mio in April.

The week ahead is very light on domestic data with markets focusing on “Brexit” polls and Friday’s vote for direction.

Global equity markets closed out the week mixed - Dow -0.33%, S&P 500 -0.33%, FTSE +1.19%, DAX +0.85%, CAC +0.98%, Nikkei +1.07%, Shanghai +0.43%.

Gold prices gained another 1% on Friday closing out the week at $1,298 an ounce, WTI Crude Oil surged higher on Friday closing out the week at $47.98 a barrel.

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