HiFX Morning Update, July 18 2016

HiFX Morning Update, July 18 2016

NZDUSD 0.7130 -0.9%
NZDEUR 0.6452 -0.3%
NZDGBP 0.5400 0.1%
NZDJPY 75.12 -1.0%
NZDAUD 0.9385 -0.5%
NZDCAD 0.9240 -0.4%

The NZDUSD opens at 0.7130 (mid-rate) this morning.

The NZD continued to slip lower throughout the trading day on Friday after the RBNZ announced they would release an unscheduled economic forecast on the 21st of July. Direction for the NZD ahead of this announcement will be dictated by this morning’s Q2 inflation data release.

The USD had a strong close to the trading week on the back of some stronger than expected data releases, although not all the reports exceeded expectations investors appeared to focus on the retail sales, consumer prices and industrial production reports which were all positive.

Euro-zone inflation reports were in line with expectations on Friday with both final CPI y/y and final core CPI y/y in positive territory for the month of June.

Global equity markets closed out the week mixed - Dow +0.05%, S&P 500 -0.09%, FTSE -0.01%, DAX -0.30%, CAC +0.86%, Nikkei +0.68%, Shanghai +0.01%.

Gold prices were little changed on Friday closing out the week at $1,337 an ounce, WTI Crude Oil edged higher on Friday up 0.8% closing out the week at $45.95 a barrel.

Upcoming Data releases (NZST):
10:45 - CPI q/q

ends

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