HiFX Morning Update, September 15 2016

HiFX Morning Update, September 15 2016

NZDUSD 0.7215 0.1%
NZDEUR 0.6774 -0.1%
NZDGBP 0.5685 0.0%
NZDJPY 83.14 0.1%
NZDAUD 0.9615 0.0%
NZDCAD 0.9491 0.4%

The NZDUSD opens at 0.7215 (mid-rate) this morning.

This morning markets are in a holding pattern as investors await the much anticipated FOMC statement. The USD has edged lower against the majority of its rivals following a disappointing retail sales report. The report showed retail sales for the month of November grew by 0.1% after rising 0.6% in October, economists had been expecting a rise of 0.4%.

At 8:00am the Federal Reserve release their December statement with a 25 basis point hike not only expected but also fully priced in. Following the statement release Fed Chair Janet Yellen will hold press conference at 8:30 where she is sure to be questioned on interest rate trajectory for 2017, the market has currently priced in 2 further 25 basis point hikes in 2017.

Overnight and in line with expectations the UK unemployment rate remained at 4.8% in the three months to October, its lowest level since the July to September 2005 report.

Global equity markets are mixed - Dow -0.02%, S&P 500 -0.08%, FTSE -0.28%, DAX -0.35%, CAC -0.72%, Nikkei +0.02%, Shanghai -0.46%.

Gold prices have edged higher currently up 0.5% at $1,162 an ounce WTI Crude Oil is currently trading down 2% from yesterday at $52.01 a barrel.

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