HiFX Morning Update - September 15 2016

HiFX Morning Update - September 15 2016

NZDUSD 0.7283 0.5%
NZDEUR 0.6473 0.2%
NZDGBP 0.5500 0.2%
NZDJPY 74.56 0.3%
NZDAUD 0.9744 0.4%
NZDCAD 0.9610 0.7%

It was a mixed night last night, the NZD pushing back above 0.73 only to give up these gains and open this morning at 0.7283. Keep on eye out for our GDP figures at 10:45 this morning.

The USD traded slightly lower in comparison to all of its major rivals, the market is holding its cautious mood before the Fed announces interest rates next week. Currently 20% of a rate rise is priced in for the USD.

In the UK, average earnings continued to improve up 2.3%, however the claimant count was worse than expected. This lagging indicator has economists growing a sense that a dovish statement might be coming out of the Bank of England tonight, and possibly signal monetary accommodation for the GBP.

Advisers to the Bank of Japan believe there is plenty of room to loosen monetary policy and should act to counter the “speculative” rise in the yen. This could come in the form of deepening negative rates or expanding government bond purchases.

Oil continued down another -2.7% to 44.14, Gold held its weight, up slightly at $1322.
Global equity markets lower : - Dow -0.18%, S&P 500 -0.18%, FTSE +0.12%, DAX -0.08%, CAC -0.39%, Nikkei -0.69%, Shanghai -0.68%.

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