HiFX Morning Update, May 29

HiFX Morning Update

The NZDUSD opens at 0.7180 (mid-rate) this morning.

The NZDUSD is down 0.6% from yesterday’s open, with Pending Home Sales in the U.S. increased by much more than expected in the month of April, according to a report overnight, with pending sales jumping to their highest level in nearly nine years, up 3.4 percent to 112.4 in April.

US Unemployment Claims were slightly worse at 282,000 - an increase of 7,000 from the previous week's revised level of 275,000 and ahead of 271,000 expectation.

Eurozone economic confidence remained unchanged at its second highest level in nearly four years in May despite the ongoing Greek crisis, survey results from the European Commission showed overnight. The economic sentiment index held steady at 103.8 in May, while it was forecast to fall to 103.5. This was the second highest score since July 2011.

Global equity markets are mostly lower - Dow -0.23%, Nikkei +0.39%, Shanghai +6.50%, Hang Seng -2.19% FTSE +0.11%, DAX -0.79%, CAC -0.86%,

Gold prices are up 2 to $1189 an ounce, Oil (WTI) is steady trading at 57.50 a barrel.

The current indicative mid-rates are:

NZDUSD 0.7180
NZDEUR 0.6560
NZDGBP 0.4690
NZDJPY 89.05
NZDAUD 0.9385
NZDCAD 0.8920

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