HiFX Morning Update, November 25 2015

NZDUSD 0.6541 0.4%
NZDEUR 0.6145 0.2%
NZDGBP 0.4341 0.8%
NZDJPY 80.11 0.1%
NZDAUD 0.9037 -0.1%
NZDCAD 0.8702 0.0%

The NZDUSD opens at 0.6541 (mid-rate) this morning.

The NZD has made headway against all its major trading partners (AUD being the only exception) following last night’s Global data releases.

The U.S. Q3 Prelim GDP rose by 2.1% (in-line with economists’ estimates) from the previously reported 1.5% increase, but still reflects a slowdown when compared to the 3.9% increase reported for Q2.

The USD fall was brought about by an unexpected sharp fall in the U.S. consumer confidence for November. The report showed the index fell from 99.1 in October to 90.4 for November, economists had been expecting the index to rise to 99.3.

Overnight German business confidence for November exceeded economists’ expectations rising to 109 from 108.2 in October (exp to remain flat) and now sits at its highest level since June 2014.

Comments from Bank of England Governor Mark Carney signalling that U.K. interest rates are likely to remain low for some time has seen the British Pound under-perform.

Global equity markets remain week mixed - Dow +0.05%, S&P 500 -0.07%, FTSE -0.45%, DAX -1.43%, CAC -1.41%, Nikkei +0.23%, Shanghai +0.16%.

Gold prices have retraced yesterdays fall currently trading at $1075 an ounce (+$6), WTI Crude Oil has continued to out-perform currently up 3.4% trading at $43.20 a barrel.
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