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HiFX Morning Update, September 12 2016
HiFX Morning Update, September 12 2016
NZDUSD 0.7139 -0.5%
NZDEUR
0.6761 0.0%
NZDGBP 0.5675 -0.5%
NZDJPY 82.25 0.4%
NZDAUD 0.9567 -0.6%
NZDCAD 0.9369 -1.2%
The NZDUSD opens at 0.7139 (mid-rate) this morning.
Broad USD strength returned on Friday as investors turned their attention to this Thursday’s Federal Reserve monetary policy meeting. Supported by robust economic data of late the Fed are widely expected to hike rates at this week’s meeting.
On Friday the University of Michigan consumer sentiment preliminary reading printed well ahead of economists estimates, with the index for the month of December spiking to 98.0 up from 93.8 in November and well ahead of the expected 94.1 reading.
The week ahead offers very little in the way of domestic data releases with tomorrow's manufacturing sales, and Thursday’s business NZ manufacturing index announcements likely to have little effect on the currency.
Global equity markets edged higher on Friday - Dow +0.72%, S&P 500 +0.59%, FTSE +0.33%, DAX +0.22%, CAC +0.60%, Nikkei +1.23%, Shanghai +0.54%.
Gold prices fell 1.1% on Friday to close out the week at a new 9-month low of $1,157 an ounce WTI Crude Oil broke up through $51 a barrel on Friday to close out the week at $51.50 a barrel.
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