HiFX Morning Update, November 28 2016

HiFX Morning Update, November 28 2016

NZDUSD 0.7035 0.6%
NZDEUR 0.6632 0.1%
NZDGBP 0.5638 0.5%
NZDJPY 79.55 0.3%
NZDAUD 0.9455 0.1%
NZDCAD 0.9515 0.9%

The NZDUSD opens at 0.7035 (mid-rate) this morning.

The NZD posted modest gains against the majority of its rivals on Friday, with very light flows being reported as traders and investors remained in holiday mode following Thursday’s Thanksgiving celebrations.

There was very little in the way of economic data releases on Friday with the second estimate of UK GDP, which was unrevised at 0.5% for the period between Q2 and Q3 the only release of any note.

Domestically Wednesday’s RBNZ financial stability report followed by Governor Wheeler’s testimony should dictate direction for the NZD ahead of Friday night’s US monthly employment report.

Uncertainty around whether the members of OPEC will be able to agree on a cut in production at this week’s meeting saw oil prices plummet on Friday afternoon.

Global equity markets slipped lower on Friday - Dow -0.19%, S&P 500 -0.24%, FTSE -0.28%, DAX -0.20%, CAC -0.52%, Nikkei +0.59%, Shanghai -0.49%.

Gold prices slipped a little lower on Friday down 0.2% to close out the week at $1,182 an ounce WTI Crude Oil fell sharply on Friday down 4% closing at $46.06 a barrel.

ends

© Scoop Media