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HiFX Morning Update, May 30 2016
HiFX Morning Update, May 30 2016
NZDUSD
0.6690 -0.7%
NZDEUR 0.6017
-0.2%
NZDGBP 0.4580 -0.5%
NZDJPY
73.90 -0.1%
NZDAUD 0.9320
-0.3%
NZDCAD 0.8730 -0.5%
The NZDUSD opens at 0.6690 (mid-rate) this morning.
The NZD continued to trade the ranges on Friday, all be it with a bias to the downside and this morning the NZDUSD has fallen below 0.6700 for the first time since late March.
The USD has strengthened against all its major trading partners after Federal Reserve Chair Janet Yellen signalled it would be appropriate for the Federal Reserve to raise interest this summer if the economy continues to improve, “I think for the Fed to gradually and cautiously increase our overnight interest rate over time, and probably in the coming months, would be appropriate,” Yellen said.
Domestically Thursday’s GDT auction will be the main driver for the NZD, while global manufacturing data releases and the latest U.S. employment data reports will carry more weight.
Global equity markets closed out the week broadly higher - Dow +0.25%, S&P 500 +043%, FTSE +0.08%, DAX +0.13%, CAC +0.05%, Nikkei +0.37%, Shanghai -0.05%.
Gold prices slipped to a 3 month low on Friday closing out the week at $1212 an ounce, WTI Crude Oil traded sideways on Friday closing out the week at $49.33 a barrel.
ends
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