HiFX Morning Update, March 14 2017

HiFX Morning Update, March 14 2017

The NZDUSD opens at 0.6927 (mid-rate) this morning.

After trading a narrow 36 point or 0.5% range against the USD in the last 24 hours, the NZD opens the same as yesterday morning.

A light night on the calendar was negated by Scotland's First Minister Nicola Sturgeon who says conditions have been met for a new independence vote, which could be held in late 2018 or early 2019, so that Scotland could exit the UK.

It was an unplanned distraction for the UK Prime Minister Theresa May who now it looks like will not trigger Article 50 and initiate Britain's formal departure from the European Union until the final few days of March. The prime minister had been expected to trigger Article 50 — the two year process by which Britain will leave the EU — as early as tonight, after the Brexit bill passed both Houses of Parliaments.

ECB President Draghi spoke at a joint ECB-MIT conference overnight promoting innovation and entrepreneurship.

China is pouring money into Greece's infrastructure sector, viewing the cash-strapped country as a strategic gateway to Europe.

Gold volatility has fallen to the lowest level since 2014 ahead of the Fed Rate decision this Thursday morning.

Global equity markets are higher except for North America: Dow -0.13%, S&P -0.06%, FTSE +0.33%, DAX +0.22%, CAC +0.13%, Nikkei +0.15%, Shanghai +0.76%.

Gold prices are down $1 currently trading at $1,203 an ounce, WTI Crude Oil is down 0.3% currently trading at $48.35 a barrel

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