HiFX Morning Update, November 25 2016

HiFX Morning Update

NZDUSD 0.6994 -0.3%
NZDEUR 0.6625 -0.2%
NZDGBP 0.5612 -0.3%
NZDJPY 79.29 0.5%
NZDAUD 0.9444 -0.5%
NZDCAD 0.9434 -0.2%

The NZDUSD opens at 0.6994 (mid-rate) this morning.

The NZD traded a narrow range overnight as the markets were quiet due to the U.S. Thanksgiving Holiday.

Policymakers at the US Federal Reserve acknowledged that the case to hike interest rates continued to strengthen. Despite a split vote, many members were of the opinion that a rate hike should happen “relatively soon,” reaffirming that the central bank will hike rates in their December meeting.

The U.S. Federal Funds Rate announcement is Thursday 15th December 8am NZ time with the FOMC Press Conference at 8:30am NZ time

German business morale was unchanged in November, a survey of 7000 firms showed overnight, suggesting company executives are still optimistic about the growth prospects for Europe's largest economy despite growing political uncertainties.

Global equity markets are higher - Dow +0.31%, S&P 500 +0.08%, FTSE +0.17%, DAX +0.25%, CAC +0.29%, Nikkei +0.94%, Shanghai +0.02%.

Gold prices are down $7 or 0.6% currently trading at $1,184 an ounce WTI Crude Oil is down 0.4% at $47.98 a barrel.

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