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HiFX Morning Update
HiFX Morning Update
April 17
The NZDUSD opens
sharply higher at 0.7665 this morning.
The USD fell across the board, pushing up the NZDUSD sharply in the process, as the markets interpreted recent weak US data as likely to cause the US Federal Reserve delay its first long-awaited interest rate hike.
Overnight, US housing starts rose less than expected in March, while there was a surprise increase in the number of people seeking unemployment aid last week. This placed downwards pressure on the USD. It wasn't all bad news however as factory activity in the mid-Atlantic region accelerated.
Yesterday’s Business NZ Manufacturing Index indicated continued expansion in the sector, while there was surprisingly good employment data from Australia.
Global equity markets were flat to lower on the day – Dow -0.0%, Nikkei +0.8%, Shanghai +3.0%, FTSE -0.5%, DAX -1.9%
Gold prices dipped to USD$1,199. Oil prices (WTI) rose slightly to USD$56.59 per barrel.
The current indicative mid-rates are:
NZDUSD 0.7665
NZDEUR
0.7120
NZDGBP 0.5135
NZDJPY
91.25
NZDAUD 0.9840
NZDCAD
0.9345
ends
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