HiFX Morning Update, January 27 2016

HiFX Morning Update, January 27 2016

NZDUSD 0.6500 0.4%
NZDEUR 0.5995 0.2%
NZDGBP 0.4530 -0.4%
NZDJPY 77.07 0.2%
NZDAUD 0.9270 -0.2%
NZDCAD 0.9145 -0.8%

The NZDUSD opens at 0.6500 (mid-rate) this morning.

The NZDUSD has rallied back above 0.6500 as investors regained their risk appetite on the back of rising oil prices.

Oil remains the key driver, and following comments from Iraq’s oil minister that Saudi Arabia and Russia may now consider reducing output, oil rebounded strongly taking equity markets and commodity based currencies with it.

Overnight U.S. consumer confidence unexpectedly improved in January climbing to 98.1 from downwardly revised 96.3 in December, economists had expected the index to fall to 96.0 from Decembers previously reported 96.5.

Tomorrow morning we have monetary policy statements out of the FOMC and the RBNZ, with neither expected to change rates.

Global equity markets remain mixed - Dow +1.8%, S&P 500 +1.45%, FTSE +0.59%, DAX +0.89%, CAC +1.05%, Nikkei -2.35%, Shanghai -6.42%.

Gold prices are up $13 trading at $1118 an ounce, WTI Crude Oil has reversed yesterdays fall currently up 5% at $31.90 a barrel .

ends

© Scoop Media