HiFX Morning Update - June 15

HiFX Morning Update - June 15

The NZDUSD opens at 0.6985 (mid-rate) this morning.

Producer prices in the U.S. rose by slightly more than anticipated in the month of May, with the price growth largely reflecting a substantial rebound in energy prices. The Producer Price Index rose by 0.5% in May following a 0.4% drop in April. Economists had expected prices to increase by 0.4%.

University of Michigan Consumer sentiment in the U.S. has improved by much more than anticipated in the month of June, coming in at 94.6 compared to the final May reading of 90.7. Expectation was at 91.2

Investors are eagerly anticipating any clues from the FOMC this Thursday morning at 6am. The Fed may provide regarding the timing of a hike in interest rates. The stronger than expected employment report for May recently triggered speculation that an increase can't be too far off. A June hike appears unlikely, while a September hike appears possible...

Food prices in New Zealand climbed 0.4% in the month of May, Statistics New Zealand said on Friday - following the 0.3% decline in April.

Eurozone industrial production growth eased sharply in April to its slowest pace in 3 months. Industrial production grew 0.8% following 2.1% growth in March, which was revised up from 1.8%. Economists had forecast 1.1% increase. The latest growth was the smallest since January's 0.6% gain.

US and UK equity markets are moderately lower, Europe sharply lower, and Asian equity markets moderately higher: Dow -0.78%, S&P 500 -0.70%, FTSE -0.91%, DAX -1.20%, CAC -1.41%, Nikkei +0.12%, Shanghai +0.87%, Hang Seng +1.37%,

Gold price is down $2 trading at $1180 an ounce, Oil (WTI) is down 2.4% at $59.96 a barrel.

The current indicative mid-rates are:

NZDUSD 0.6985 -0.4%
NZDEUR 0.6220 -0.0%
NZDGBP 0.4490 -0.5%
NZDJPY 86.10 -0.5%
NZDAUD 0.9030 -0.1%
NZDCAD 0.8605 -0.0%

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