HiFX Morning Update June 15 2016

HiFX Morning Update June 15 2016

NZDUSD 0.7001 -0.7%
NZDEUR 0.6248 -0.3%
NZDGBP 0.4965 0.3%
NZDJPY 74.30 -1.4%
NZDAUD 0.9515 -0.5%
NZDCAD 0.8995 - 0.3%

The NZDUSD opens at 0.7001 (mid-rate) this morning.

The USD has been the standout performer over the past 24hrs, on the back of better-than-expected economic data and growing concerns over a potential “Brexit”.

Overnight the U.S. retails sales for the month of May increased by 0.5% (exp 0.4%) while both U.S. import and export prices also exceeded economists estimates. Import prices increased by 1.4% in May with April upwardly revised to 0.7%, while export prices also spiked, up 1.1% in May (exp 0.2%) following a 0.5% increase in April.

Investor sentiment continues to be rocked, as more and more polls show the U.K. are poised to leave the European Union. Two ICM polls one online and one telephone have the Leave Campaign with a slender lead while last night’s TNS poll has the Leave Campaign with a 7 point lead (leave 47% Remain 40% undecided 13%).

Global equity markets fall further - Dow -0.62%, S&P 500 -0.53%, FTSE -2.01%, DAX -1.43%, CAC -2.29%, Nikkei -1.00%, Shanghai +0.32%.

Gold prices are still rising up 0.9% overnight trading at $1,285 an ounce, WTI Crude Oil has continued its fall currently down 1.3% at $48.44 a barrel.

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