Scoop has an Ethical Paywall
HiFX Morning Update, October 25 2016
HiFX Morning Update, October 25 2016
NZDUSD 0.7132 -1.0%
NZDEUR
0.6553 -0.5%
NZDGBP 0.5834 -0.7%
NZDJPY 74.25 -0.8%
NZDAUD 0.9382 -0.6%
NZDCAD 0.9539 0.3%
The NZDUSD opens at 0.7132 (mid-rate) this morning.
Broad USD strength has helped push the NZDUSD back into the low 71 cent region. The USD has continued to rally as investors position their books for a December US rate hike. Markets have so far priced in a 67% chance of the Fed raising the interest rates in December.
This morning’s US Flash Manufacturing Purchasing Managers’ Index exceeded economists estimates rebounding to 53.2 in October, from a three-month low of 51.5 in September. The number was well above the forecast 51.6 result and the rate of improvement was the fasted since October 2015.
The pace of economic growth in the Euro-zone for the month of October rose to its highest level this year. With Germany leading the way, the Composite Output Index, Services PMI Activity Index, Manufacturing PMI Output Index, and Manufacturing PMI all printed ahead of expectations.
The week ahead offers little in the way of domestic data releases with Thursday’s trade balance the only noticeable announcement.
Global equity markets with the FTSE the only exception are edging higher - Dow +0.41%, S&P 500 +0.38%, FTSE -0.49%, DAX Closed CAC +0.27%, Nikkei +0.29%, Shanghai +1.42%.
Gold prices are little changed, currently trading at $1,263 an ounce, WTI Crude Oil which gained 2.2% on Friday is currently down 1.6% at $50.62 a barrel.
ends
HiFX
International Payments Expertly Done
HiFX is one of the largest foreign exchange and international payment specialists in the world, managing over $30 billion on behalf of over 100,000 clients worldwide every year.
Large enough to undertake the biggest transactions, yet small enough to care about each and every one – send and receive overseas payments and manage your account anytime, anywhere. HiFX gives you the flexibility you need to transfer money quickly and easily via a secure online platform 24 hours a day, seven days a week - making moving money as easy as 1,2,3.
HiFX Ltd ABN 54 106 779 953/ AFSL No 240914
Fix & Fogg: NASA Hand-picks Kiwi Nut Butter Brand To Travel To Space In NZ First
Citizens of the Sea: Sailors To Revolutionise Our Understanding Of Pacific Biodiversity
Netsafe: Making A Splash With Online Safety: Netsafe Launches New Flagship Programme For Kids
NZGBC: Flood Resilience PhD Student Widi Auliagisni Named Future Thinker Of The Year 2024
Business Canterbury: European Free Trade Agreement A Game-changer For Canterbury
Business Canterbury: Urges Council To Cut Costs, Not Ambition For City
