HiFX Morning Update, February 21, 2017

HiFX Morning Update, February 21, 2017

The NZDUSD opens at 0.7184 (mid-rate) this morning.

With the US enjoying a long weekend and with very little in the way of economic data releases both currency and equity markets have traded sideways over the past 24hrs.

Yesterday’s PPI data release which showed Producer price inputs rose 1% while outputs increased by 1.5% on the quarter had little effect on the currency. Overnight tonight the latest GDT auction will be the main driver for the NZD with futures currently pointing to another dip in prices.

This afternoon the NZDAUD cross rate direction should be dictated by the release of the RBA monetary policy meeting minutes from their last meeting.

Global equity markets remain mixed- Dow Closed, S&P Closed, FTSE +0.00%, DAX +0.60%, CAC -0.05%, Nikkei +0.09%, Shanghai +1.18%.

Gold prices nudged up 0.2% currently trading at $1,237 an ounce, WTI Crude Oil is up 0.5% overnight currently trading at $53.65 a barrel.

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