HiFX Morning Update October 11 2016

HiFX Morning Update October 11 2016

NZDUSD 0.7132 -0.5%
NZDEUR 0.6405 -0.1%
NZDGBP 0.5771 0.1%
NZDJPY 73.99 -0.1%
NZDAUD 0.9373 -0.7%
NZDCAD 0.9395 -1.1%

The NZDUSD opens at 0.7132 (mid-rate) this morning.

The NZD has underperformed when compared to other commodity-linked-currencies edging lower against the majority of its rivals.

It’s been a quiet start to the week with both the US and Japan enjoying a long weekend and investors in this part of the world focusing on the second US Presidential debate. Most economists agree that as polls swing in Clinton’s favour the USD should strengthen.

Overnight Russian President Vladimir Putin’s comments that Russia is ready to “join common efforts to limit oil production and urges others to as well” send oil prices rocketing higher.

Global equity markets are broadly higher - Dow +0.59%, S&P 500 +0.61%, FTSE +0.75%, DAX +1.27%, CAC +1.06%, Nikkei CLOSED, Shanghai +1.45%.

Gold prices are up 0.8% from yesterday currently trading at $1,259 an ounce, WTI Crude Oil has surged 4% overnight currently trading at $51.32 a barrel.

ends

© Scoop Media