The NZDUSD opens at 0.6801 (mid-rate) this morning.
A lack of tier one economic data has seen the NZD trade tight ranges against the majority of its trading partners.
The USD has lost ground against the majors as investors position their books for what is widely expected to be a dovish
FOMC statement.
Although the Federal Reserve are expected to hike rates on Thursday morning recent comments from several Fed Governors
suggest the Fed are about to signal a slower pace of hikes in 2019.
Markets are also weary of a potential US government shutdown on Friday as Congress struggles to agree on a spending plan
amid clashes about the Mexican border wall issue. Parts of the federal government will shut down at midnight on Friday
should Congress fail to reach an agreement on the spending plan.
Crude oil prices fell sharply overnight after inventories at the storage hub of Cushing, Oklahoma rose by more than 1
million barrels between Dec. 11 and Dec. 14. Prices are expected to remain under pressure with increasing concerns about
weakening growth outweighing the agreed OPEC output cuts.
Global equity markets are mixed, Dow -0.36%, S 500 -0.15%, FTSE -1.05%, DAX -0.86%, CAC -1.11%, Nikkei +0.62%, Shanghai +0.16%.
Gold prices are marginally higher up 0.5% trading at $1,244 an ounce. WTI Crude Oil prices have tumbled, down 2.0%
trading at $50.46 a barrel.
ends