HiFX Morning Update, March 24 2017

HiFX Morning Update, March 24 2017

The NZDUSD opens at 0.7032 (mid-rate) this morning.

The NZD has been the worst performing currency of the majors overnight (with the exception of the AUD) as risk currencies were sold.

Filings for U.S. unemployment benefits rose to a seven-week high, representing a departure from other data showing a solid labor market. Jobless claims increased by 15,000 to 258,000 in the week ended March 18. The median forecast in a Bloomberg survey called for 240,000.

The GBP strengthened as estimates of the quantity bought in retail sales for the UK increased by 3.7% compared with February 2016 and increased by 1.4% compared with January 2017. The consensus was for a 0.4% increase.

U.S. New Home Sales increased in February to a seven-month high, indicating the effects of the recent rise in borrowing costs on the U.S. residential real estate market have been modest. Sales rose 6.1% to a 592,000 annualized pace, Commerce Department data showed overnight.

Tonight’s data releases include Flash Manufacturing PMI, and Flash Services PMI for France, Germany, the Eurozone, and the U.S.; BBA Mortgage Approvals for the UK, FOMC Member Evans speaks, and U.S. Core Durable Goods Orders.

Global equity markets are a sea of green = all higher: Dow +0.28%, S&P -+0.20%, FTSE +0.22%, DAX +1.14%, CAC -+0.76%, Nikkei +0.23%, Shanghai +0.10%.

Gold prices are down $5 or 0.4% at $1,245 an ounce, WTI Crude Oil have fallen 0.7% at $47.80 a barrel.

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