HiFX Morning Update, September 8 2016

HiFX Morning Update, September 8 2016

NZDUSD 0.7447 0.4%
NZDEUR 0.6623 0.5%
NZDGBP 0.5583 1.1%
NZDJPY 75.75 0.2%
NZDAUD 0.9709 0.6%
NZDCAD 0.9607 0.9%

The NZD has continued to push higher after yesterday’s gains opening up 0.4% at 0.7447 getting close to all time highs against the CAD and GBP

Rating agency Moody’s has continued to back Australia with a AAA rating mentioning inherent and robust “economic strength” But to keep an eye on house hold debt and external financing. Despite this the NZD has continued higher against the AUD up 0.6%

Around the world the GBP has continued its Brexit wobbles with manufacturing falling -0.9%. The Bank of Canada has maintained its cash rate at 0.5% after their economy shrank in the second quarter, it is still projecting a substantial rebound in the second half of this year.

After a quiet news night for the USD the market is pricing in just over 20% chance a of a rate hike on the 21st Sept.

Global equity markets were mixed overnight, Europe fearing better than the US and Asia - Dow -0.13, S&P 500 -0.2%, FTSE +0.3%, DAX +0.62%, CAC +0.61%, Nikkei -0.41%, Shanghai +0.04%.
Gold prices are steady at $1345 an ounce, WTI Crude Oil is holding at $45.85 a barrel

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