HiFX Morning Update, July 24

HiFX Morning Update, July 24

NZDUSD 0.6620 0.5%
NZDEUR 0.6015 -0.3%
NZDGBP 0.4260 0.9%
NZDJPY 81.90 0.2%
NZDAUD 0.8990 0.6%
NZDCAD 0.8620 0.5%

The NZDUSD opens this morning at .6620

Market positioning saw the NZD rally after yesterday’s decision from the RBNZ to cut the OCR by 25 bps. After settling down in the local session the Kiwi had another surge during London trading but failed to break through 0.6700.

U.S weekly Jobless claims fell to the lowest levels in four decades during the week ending July 18th. Claims fell by 26,000 to 255,000 which saw broad USD strength and the NZD trade off its highs to current levels.

UK monthly retail sales data declined in June on a wide range of goods including food, jewellery and auto fuel. This saw the NZD/GBP push slightly higher for a period before giving up the majority of its gains.

Gold prices currently trading at $1,088 down 0.58%

WTI Crude Oil remains below $50 after a small move higher overnight currently at $48.73

World equity markets had mixed performances. Both the European and US markets broadly lower with China and Japan higher:

Dow -0.63%, S&P 500 -0.57%, FTSE -0.18%, DAX -0.07%, CAC -0.08%%, Nikkei -+0.44%, Shanghai +2.43%.

ends

© Scoop Media