HiFX Morning Update, February 28 2017

HiFX Morning Update, February 28 2017

NZDUSD 0.7201 0.1%
NZDEUR 0.6797 -0.2%
NZDGBP 0.5785 0.3%
NZDJPY 81.12 0.5%
NZDAUD 0.9378 0.0%
NZDCAD 0.9462 0.4%

The NZDUSD opens at 0.7201 (mid-rate) this morning.

Markets have once again been very subdued overnight, with very little in the way of economic data until later in the week.

Overnight the US Commerce Department released their durable goods orders report for January with orders bouncing back 1.8% from a December 0.5% fall. Economists had expected the order book to grow by 1.6%.

This morning’s trade balance which is expected to print -3m for the month of January is the only notable data release in our time zone while overnight, tonight the US Prelim GDP q/q followed by their consumer confidence data releases should signal USD direction.

Global equity markets remain mixed- Dow +0.03%, S&P 500 +0.00%, FTSE +0.13%, DAX +0.16%, CAC +0.00%, Nikkei -0.91%, Shanghai -0.76%.

Gold prices are unchanged at $1,256 an ounce, WTI Crude Oil has edged higher, up 0.3% to 54.13 a barrel.

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