HiFX Morning Update, November 23 2016

HiFX Morning Update, November 23 2016

NZDUSD 0.7045 0.0%
NZDEUR 0.6637 -0.1%
NZDGBP 0.5682 0.6%
NZDJPY 78.33 0.0%
NZDAUD 0.9533 -0.5%
NZDCAD 0.9485 0.2%

The NZDUSD opens at 0.7045 (mid-rate) this morning.

The NZD is little changed over the past 24hrs with yesterday’s rally stalling after Donald Trump announced that he would withdraw the US from the Trans-Pacific Partnership (TPP) on his first day in office. The Japanese Prime Minister was quick to respond to the release stating that the “TPP would be meaningless without the United States.”

The JPY traded off yesterday in reaction to the news that a 7.3 magnitude earthquake off the coast of Fukushima had struck and that there was potential for an tsunami up to three meters high to strike Japan’s east coast. The USDJPY is currently trading at a 6mth high 111.25.

Overnight existing home sales in the U.S. unexpectedly increased in the month of October with the report showing existing home sales rose by 2% to an annual rate of 5.6m in October after jumping by 3.6% to a revised 5.49m in September. Economists had been expecting a fall of 0.9% to 5.4m in October from the 5.47m previously reported for September.

Global equity markets have continued to edged higher - Dow +0.13%, S&P 500 +0.09%, FTSE +0.62%, DAX +0.27%, CAC +0.41%, Nikkei +0.31%, Shanghai +0.94%.

Gold prices are unchanged at $1,212 an ounce WTI Crude Oil has held onto its recent gains currently trading at $47.47 a barrel.

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