HiFX Morning Update, July 11 2016

HiFX Morning Update, July 11 2016

NZDUSD 0.7294 0.9%
NZDEUR 0.6598 1.0%
NZDGBP 0.5629 0.5%
NZDJPY 73.40 0.8%
NZDAUD 0.9628 -0.3%
NZDCAD 0.9513 1.2%

The NZDUSD opens at .7294 this morning after touching 0.7300 at the end of last week.

After digesting the RBNZ’s housing speech on Thursday the NZD gradually pushed higher throughout Friday.

Late on Friday night the US Non Farm Payrolls came in exceeding market expectations with 287k jobs created for the month of June vs economists estimates of 175k. This better than expected result was countered by the unemployment rate going from 4.8% to 4.9%.

The week ahead has very little in the way of domestic data releases. With future direction for the NZD to be determined by international data releases.

With the exception of Asia, global equity markets closed out the week in positive territory - Dow +1.4%, S&P 500 +1.5%, FTSE 0.9%, DAX 2.2%, CAC 0.6%, Nikkei -1.1%, Shanghai -1.0%.

Gold prices closed out the week up 0.4% trading at $1,366 an ounce, WTI Crude Oil also closed out the week slightly higher up 0.5% to 45.41.

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