HiFX Morning Update

June 25

HiFX Morning Update

The NZDUSD opens at 0.6890 this morning.

NZD has been one of the stronger performers overnight with the USD edging lower, after investors turned their focus from Greece’s fate to US interest rates.

NZD has also bounced back against the AUD and GBP. Currently sitting at highs for the week against both currencies at 0.8930 & 0.4385

The US data was solid overnight as Q1 GDP came in as expected at -0.2%, revised from -0.7% and consumer spending was revised upward from 1.8% to 2.1%

The latest proposal from Greece has been rejected by the creditors and a counterproposal has been handed back. Greece has indicated it cannot make the EUR 1.5billion payment, due 30th June, without further aid.

Global equity markets were mixed on the day; Dow -0.7%, Nikkei +0.3%, FTSE +0.1% and DAX -0.6%.

Gold prices fell 0.3% to USD$1,172.80 and Oil prices dropped 1.2% to USD$60.10.

The current indicative mid-rates are:

NZDUSD 0.6890
NZDEUR 0.6150
NZDGBP 0.4385
NZDJPY 85.35
NZDAUD 0.8940
NZDCAD 0.8535

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