HiFX Morning Update, March 23 2016

HiFX Morning Update, March 23 2016

NZDUSD 0.6740 -0.4%
NZDEUR 0.6006 -0.1%
NZDGBP 0.4743 0.9%
NZDJPY 75.75 0.1%
NZDAUD 0.8850 -0.7%
NZDCAD 0.8795 -0.5%

The NZDUSD opens at 0.6740 (mid-rate) this morning.

The NZD has continued to underperform losing ground against all its major trading partners with the GBP the only exception as investors sold risk following the Brussels terror attacks. The GBP has been the worst performing currency with the pound hit hard with investors believing this latest terror attack will boost the likelihood of a Brexit.

Overnight German business confidence for March improved for the first time in four months rising to 106.7 from February’s 105.7, economists had expecting the index to nudge up to 106.

Global equity markets are slightly higher - Dow +0.08%, S&P 500 +0.19%, FTSE +0.13%, DAX +0.42%, CAC +0.09%, Nikkei +1.94%, Shanghai -0.64%.

Gold prices are unchanged, at $1244 an ounce, WTI Crude Oil has gained 3.1% over the past 24hrs currently trading at $41.36.

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