HiFX Morning Update, November 9 2016

HiFX Morning Update, November 9 2016

NZDUSD 0.7368 0.6%
NZDEUR 0.6691 0.9%
NZDGBP 0.5948 0.7%
NZDJPY 77.45 1.1%
NZDAUD 0.9518 0.3%
NZDCAD 0.9822 0.4%

The NZDUSD opens at 0.7368 (mid-rate) this morning.

As you would expect markets have been fairly quiet ahead of today’s election result. The NZD has edged higher as investors add to their risk portfolios in anticipation of a Clinton victory. The JPY which is viewed as a “safe-haven” has been the worst performing currency since the FBI announced that Clinton would not face charges over the use of a private email server. With the NZDJPY rate trading at its highest level since June. A Clinton victory should see the NZD consolidate ahead of tomorrow’s RBNZ interest rate announcement, while a Trump victory will result in a massive risk-off shift resulting in a sharply lower NZD.

Global equity markets have edged higher - Dow +0.64%, S&P 500 +0.57%, FTSE +0.53%, DAX +0.24%, CAC +0.35%, Nikkei -0.03%, Shanghai +0.46%.

Gold prices are little changed currently trading at $1,277 an ounce WTI Crude Oil continues to bounce back currently up 1.7% at $45.10 a barrel.

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