HiFX Morning Update, September 2 2016

HiFX Morning Update

NZDUSD 0.7279 0.3%
NZDEUR 0.6499 -0.1%
NZDGBP 0.5485 -0.7%
NZDJPY 75.19 0.2%
NZDAUD 0.9637 -0.2%
NZDCAD 0.9530 0.1%

The NZDUSD opens at 0.7279 (mid-rate) this morning.

The NZD put in a mixed performance overnight compared with its major trading partners. A brief look at the Kiwi says it has gone up 23 points from yesterday’s open, however it traded a 60 point range, testing support at 0.7225 and resistance just short of 0.7300

Fewer Americans than forecast filed applications for unemployment benefits last week, further evidence of a healthy labour market. Jobless claims rose by 2,000 to 263,000 in the week ended August 27.

Economic activity in the manufacturing sector contracted in August following five consecutive months of expansion, while the overall economy grew for the 87th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business. The August PMI registered 49.4%, a decrease of 3.2% from the July reading of 52.6%.

Tonight there is a myriad of data out for the U.S. including Trade Balance, Factory Orders, Average Hourly Earnings, Non-Farm Employment Change, Unemployment rate. There are G20 Meetings all day Sunday

Global equity markets are lower with Japan & Hong Kong the exception which are higher: Dow -0.10%, S&P 500 -0.22%, FTSE -1.10%, DAX -1.16%, CAC -0.40%, Nikkei +0.23%, Shanghai +0.72%.

Gold prices are up 0.4% currently trading at $1,313 an ounce, WTI Crude Oil is sharply lower again, marking 3 straight days of -3.0% or more, currently down 3.2% at $43.28 a barrel

Upcoming Data releases (NZST):
no local data today

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