NZDUSD opens at 0.7530 (mid-rate)

The NZDUSD opens at 0.7530 (mid-rate) this morning.

The NZD continued to lose ground against the U.S. despite a disappointing U.S. ISM Manufacturing Report, after the Fed’s Mester and Williams indicated that a June rate hike has not been ruled out. The ISM said its purchasing managers index came in at 51.5 in April below the market expectations of 52.0.

We have a busy week ahead with data releases starting this afternoon with China manufacturing PMI, the RBA rate Statement tomorrow, Wednesday’s Fonterra auction followed by NZ employment data, and the all important U.S. non-farm-payrolls printing at the end of the week.

The FTSE and Dow closed higher on Friday - Dow +1.03%, Nikkei+0.06%, Shanghai -0.78%, FTSE +0.36% DAX CLOSED CAC Closed

Gold prices closed out the week down $6 at $1178 Oil (WTI) lost 0.8% on Friday closing at $59.15

The current indicative mid-rates are:
NZDUSD 0.7530
NZDEUR 0.6725
NZDGBP 0.4975
NZDJPY 90.40
NZDAUD 0.9510
NZDCAD 0.9150

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