The NZDUSD opens at 0.7303 (mid-rate) this morning

The NZDUSD opens at 0.7303 (mid-rate) this morning.

A lack of direction as we await economic data releases has seen all markets trade sideways over the past 24hrs.

At 9:00am this morning the first RBNZ monetary policy statement of the New Year will take centre stage. Reserve Bank Gov Graham Wheeler who earlier this week announced that he would not seek another term, is widely tipped to leave the OCR unchanged at 1.75%. Investors will be hoping the accompanying statement will provide a forecast of where the Reserve Bank sees rates heading over the course of this year. A press conference including a Q&A session will be held at 10:00am with Gov Wheeler also due to testify on the monetary policy statement before the Finance and Expenditure Select Committee, in Wellington at 13:10 this afternoon.

Global equity markets continue to remain mixed- Dow -0.25%, S&P 500 -0.05%, FTSE +0.04%, DAX -0.05%, CAC +0.299%, Nikkei +0.51%, Shanghai +0.44%.

Gold prices have continued to edge higher overnight currently up 0.6% at $1,242 an ounce, WTI Crude Oil has clawed back some of yesterday’s fall currently up 0.7% at $52.33 a barrel.

NZDUSD 0.7303 - -0.2%
NZDEUR 0.6838 - 0.0%
NZDGBP 0.5835 - -0.2%
NZDJPY 81.89 - -0.1%
NZDAUD 0.9569 - -0.1%
NZDCAD 0.9619 - -0.1%

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