The NZDUSD opens at 0.6529 (mid-rate) this morning.
Risk-linked currencies remain under pressure with both the NZD and AUD edging lower against the majors.
European and US equity markets have bounced off their respective lows partially offsetting steep losses suffered over
the past 2 days on the back of the coronavirus outbreak. It appears investors are taking solace that so far the reported
106 deaths have been isolated in China and of the reported 4,565 confirmed cases only 70 are outside the Republic.
In economic data both the US consumer confidence and durable goods orders came in ahead of expectations. The US
Conference Board reported its confidence index increased to131.6 in January following on from an upwardly revised 128.2
reading in December. New orders for U.S. manufactured durable goods rocketed up 2.4% partially reversing November’s 3.1%
fall. Confidence had been expected to increase to 128.2 while durable goods orders were expected to rise by 1.2%.
Today’s Australian inflation report will be the key driver for the NZDAUD and is the final piece of the jigsaw ahead of
next week’s RBA monetary policy statement.
Global equity markets are mixed, - Dow +0.9%, S 500 +1.1%, FTSE +0.9%, DAX +0.9%, CAC +0.4%, Nikkei -0.5%, Shanghai -2.8%
Gold prices are marginally lower, down 0.6% trading at $1,569 an ounce. WTI Crude Oil prices are edging higher, up 1.2% trading at 53.13 a barrel.