HiFX Morning Update, November 14 2016

HiFX Morning Update, November 14 2016

NZDUSD 0.7085 -1.8%
NZDEUR 0.6542 -1.2%
NZDGBP 0.5625 -2.2%
NZDJPY 75.55 -1.9%
NZDAUD 0.9425 -0.4%
NZDCAD 0.9585 -1.2%

The NZDUSD opens at 0.7085 (mid-rate) this morning.

The NZD is under pressure this morning as the fallout from last night’s earthquakes unravels. People in both Christchurch Wellington have been asked not to go into the CBD this morning while emergency services assess the damage.

On what was a quiet Friday, with the US closed for the Veteran’s day holiday markets traded in an orderly fashion with the GBP the standout performer as it continues to rally from its post Brexit lows.

US consumer sentiment index spiked to 91.6 in November after falling to a 12mth low of 87.2 in October, the result was well ahead of an expected 87.5 result. Inflation expectations also came in stronger than anticipated with both one year and five year expectations rising to 2.7% in November up from 2.4% on October.

Global equity markets closed out the week mixed - Dow +0.21%, S&P 500 -0.14%, FTSE -1.43%, DAX +0.36%, CAC -0.92%, Nikkei +0.18%, Shanghai +0.78%.

Gold prices fell 6% over the course of the week closing on Friday at $1,225 an ounce WTI Crude Oil fell 1.5% over the course of the week closing on Friday at $43.41 a barrel.

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