The NZDUSD opens at 0.7212 (mid-rate) this morning only 5 points from where we began the week at 0.7207
The Kiwi has traded an 85 point or 1.2% range in the last 24 hours against the USD to finish 0.5% lower.
Australian Labour Force figures for May released yesterday were better than expected. Employment was up 42k, the
unemployment rate dropped to 5.5% from 5.7%, and the participation rate was up to 64.9% from 64.8%.
The Swiss National Bank (SNB) is maintaining its expansionary monetary policy, with the aim of stabilising price
developments and supporting economic activity. Interest on sight deposits at the SNB is to remain at negative 0.75% and
the target range for the three-month Libor is unchanged at between –1.25% and –0.25%.
The Euro Area recorded a €17.9bn surplus in trade in goods with the rest of the world in April 2017, compared with
+€26.6 bn in April 2016.
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way
that helps to sustain growth and employment. At its meeting ending on 14 June 2017, the MPC voted by a majority of 5-3
to maintain Bank Rate at 0.25%. The Committee voted unanimously to maintain the stock of corporate bond purchases and
the stock of UK government bond purchases at £10 billion and £435 billion respectively.
UK Retails Sales was estimated to have fallen by 1.2% in May following strong growth in April 2017.
The U.S. job market continues to show signs of strength, as the number of Americans filing for unemployment benefits
last week fell to a three-week low. U.S. Initial jobless claims fell by 8k to 237k (forecast was 241k), close to
43-year-low of 227k.
Business activity rebounded strongly in New York State, according to firms responding to the June 2017 Empire State
Manufacturing Survey. The headline general business conditions index shot up twenty-one points to 19.8, its highest
level in more than two years.
Global equity markets are lower - Dow -0.06%, S 500 -0.21%, FTSE -0.74%, DAX -0.89%, CAC -0.50%, Nikkei -0.26%, Shanghai +0.06%.
Gold prices are down $6 or 0.5% at $1,255 an ounce from yesterday’s open. WTI Crude Oil prices are down 0.8% at $44.39 a
barrel.
ends