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HiFX Morning Update, September 30 2016

Published: Fri 30 Sep 2016 09:04 AM
HiFX Morning Update, September 30 2016
NZDUSD 0.7252 -0.4%
NZDEUR 0.6465 -0.3%
NZDGBP 0.5591 0.1%
NZDJPY 73.25 -0.1%
NZDAUD 0.9495 0.3%
NZDCAD 0.9535 -0.1
The NZDUSD opens at 0.7252 (mid-rate) this morning.
The big winner over the past 24hrs has been the USD on the back of better-than-expected economic data and risk aversion.
An upward revision to the US second quarter GDP and stronger than expected weekly jobs claims has seen the USD outperform all its major rivals. Q2 GDP rose 1.4% up 0.3% from the previously reported 1.1% increase. Weekly jobless claims rose by less than expected in the week ended September 24th, with economists expecting jobless claims to rise to 260k from 251k during the previous week, the actual 254k print helped push the USD higher.
Risk aversion is back on mounting concerns surrounding Deutsche Bank, with the German lender’s share pricing trading at record lows. Since it was announced 2 weeks ago that the US Justice Department is seeking a $14bn settlement Deutsche Bank’s share price has plummeted down another 6% over the past 24hrs.
Oil prices are higher after OPEC agreed to scale back production by between 700k and 750k barrels a day
Global equity markets remain mixed - Dow -1.11%, S 500 -0.81%, FTSE +1.64%, DAX +0.43%, CAC +1.03%, Nikkei +1.39%, Shanghai +0.36%.
Gold prices are little changed currently trading at $1,323 an ounce, WTI Crude Oil surged higher overnight currently up 4.4% trading at $47.83 a barrel
ends
HiFX
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HiFX is one of the largest foreign exchange and international payment specialists in the world, managing over $30 billion on behalf of over 100,000 clients worldwide every year.
Large enough to undertake the biggest transactions, yet small enough to care about each and every one – send and receive overseas payments and manage your account anytime, anywhere. HiFX gives you the flexibility you need to transfer money quickly and easily via a secure online platform 24 hours a day, seven days a week - making moving money as easy as 1,2,3.
HiFX Ltd ABN 54 106 779 953/ AFSL No 240914
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