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The NZDUSD opens at 0.7314 (mid-rate) this morning
The NZDUSD opens at 0.7314 (mid-rate) this morning.
The NZD has made small gains against all its rivals over the past 24hrs, following yesterday’s better than expected inflation report and a surprise increase in this morning’s GDT index.
The Reserve Bank survey showed an increase in one yearinflation expectations from 1.29% to 1.56% while the two year figure also increased rising to 1.92% up from 1.68% at the previous survey.
With the futures suggesting the latest GDT index was likely fall, this morning’s 1.3% increase came as a surprise. The main contributor to the rise was whole milk powder (WMP) which increased by 1% to US$ 3,314 a tonne. Volumes were once again down with 21,273 tonnes selling under the hammer compared with 22,030 tonnes at the previous auction.
Overnight the US Commerce Department reported the trade deficit narrowed to $44.3 billion in December from an upwardly revised $45.7 billion in November. Economists had expected the deficit to narrow to $45.0 billion from the previously reported $45.2 billion.
With very little in the way of economic data releases today investors will look to tomorrows RBNZ statement for further direction.
Global equity markets remain mixed- Dow +0.15%, S&P 500 +0.06%, FTSE +0.20%, DAX +0.34%, CAC -0.49%, Nikkei -0.35%, Shanghai -0.12.
Gold prices have continued to edge higher overnight currently up 1.3% at $1,234 an ounce, WTI Crude Oil has fallen sharply currently down 3.2% at $51.96 a barrel.
NZDUSD -
0.7314 - 0.0%
NZDEUR - 0.6841 - 0.5%
NZDGBP - 0.5845 -
-0.3%
NZDJPY - 81.97 - 0.2%
NZDAUD - 0.9581 -
0.3%
NZDCAD - 0.9632 -
0.5%
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