HiFX Morning Update, October 13 2016

HiFX Morning Update, October 13 2016

NZDUSD 0.7074 0.2%
NZDEUR 0.642 0.5%
NZDGBP 0.5797 -0.4%
NZDJPY 73.75 1.1%
NZDAUD 0.9344 -0.1%
NZDCAD 0.9365 0.2%

The NZDUSD opens at 0.7074 (mid-rate) this morning.
There were no surprises in this morning’s FOMC meeting minutes with the report confirming the decision to keep rates on hold in September was a “close call”. The Fed meet twice more this year, in November and December with most economists expecting the next rate hike to come at the December meeting. Below are the key points from this morning’s minutes.

FOMC minutes show officials in September expected to raise rates 'relatively soon'

FOMC minutes: 'reasonable argument' could be made for increase at September meeting

FOMC minutes highlight divisions fed faces determining timing of next interest-rate increase

FOMC minutes: many officials saw few signs of emerging inflationary pressures

FOMC minutes: some officials concerned rate increase delay could erode fed's credibility

FOMC minutes: substantial majority view risks to economic outlook as roughly balanced

FOMC minutes: some officials continued to see downside risks from abroad

FOMC minutes: staff 'slightly' lowered estimate for potential output growth in medium, long run
Euro-zone industrial production rebounded in August with the latest Eurostat report showing a 1.6% rise in August (exp +1.4%) from July when it fell by a revised 0.7%.
Global equity markets are mixed - Dow +0.19%, S&P 500 +0.19%, FTSE -0.66%, DAX -0.51%, CAC -0.44%, Nikkei -1.09%, Shanghai -0.22%.
Gold prices are a little changed currently trading at $1,251 an ounce, WTI Crude Oil continues to pull back down another 1.1% overnight but still holding just above $50 currently trading at $50.15 a barrel

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