HiFX Morning Update, November 16 2016

HiFX Morning Update, November 16 2016

NZDUSD 0.7093 -0.1%
NZDEUR 0.6610 0.0%
NZDGBP 0.5703 0.4%
NZDJPY 77.23 0.5%
NZDAUD 0.9401 -0.1%
NZDCAD 0.9550 -0.8%

The NZDUSD opens at 0.7093 (mid-rate) this morning.

The NZD put in a mixed performance against all the majors overnight. There have been more than 1400 aftershocks and earthquakes in the last 48 hours and the Kiwi was helped by a rise in the Global Dairy Trade prices at 3:35am

The Global Dairy Trade price auction prices rose by 4.5% to an average price of $3,519. The estimate was for a 5-7% increase

Sales at U.S. retailers rose more than forecast last month in a broad advance after an even stronger September than initially estimated, showing consumers continue to pump up the economy. A 0.8% rise in October followed an upwardly revised 1% jump in the prior month, marking the biggest back-to-back increase since 2014.

Business activity stabilized in New York State, according to firms responding to the November 2016 Empire State Manufacturing Survey. The headline general business conditions index climbed out of negative territory for the first time in four months, rising eight points to 1.5.

Seasonally adjusted GDP rose by 0.3% in the euro area (EA19) and by 0.4% in the EU28 during the third quarter of 2016, compared with the previous quarter, according to a flash estimate

Global equity markets are moderately higher - Dow -0.16%, S&P 500 +0.26%, FTSE +0.59%, DAX +0.39%, CAC +0.62%, Nikkei +0.03%, Shanghai -0.11%.

Gold prices have risen 0.3% overnight currently trading at $1,225 an ounce WTI Crude Oil has rebounded 5.4% overnight currently trading at $45.40 a barrel.

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