HiFX Morning Update, November 24, 2016

HiFX Morning Update, November 24, 2016

NZDUSD 0.7014 -0.4%
NZDEUR 0.6641 0.0%
NZDGBP 0.5631 -0.3%
NZDJPY 78.88 0.7%
NZDAUD 0.9487 -1.0%
NZDCAD 0.9452 -0.1%

The NZDUSD opens at 0.7014 (mid-rate) this morning.

Broad USD strength on the back of stronger-than-expected US economic data releases, has seen the NZDUSD trade back below 0.7000 overnight.

The US data releases were mostly better than forecast with manufactured durable goods, US Weekly Jobless Claims, and consumer sentiment all ahead of economists’ estimates. The only data release to disappoint was the October new home sales report, which showed new home sales slid 1.9% to an annual rate of 563k in October from the revised September rate of 574k.

Both the Euro-zone Services PMI and Manufacturing PMI came in ahead of expectations, The services index climbed to 54.1 in November up from 52.8 in October economists had expected the index to edge up to 52.9, while the manufacturing index rose to 53.7in November up from 53.5 in October. Economists had expected the index slip to 53.2.

The markets are currently treading water as investors await this morning’s FOMC meeting minutes due for release at 08:00am.

Global equity markets are mixed - Dow +0.22%, S&P 500 -0.99%, FTSE -0.03%, DAX -0.48%, CAC -0.42%, Nikkei Closed, Shanghai -0.22%.

Gold prices have broken back below $1,200 currently trading at $1,191 an ounce WTI Crude Oil is pushing higher currently up 1.2% at $48.16 a barrel.

ends

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